Economics Made Simple in One Hour

Economics Made Simple in One Hour, available at Free, has an average rating of 4.5, with 6 lectures, based on 43 reviews, and has 1217 subscribers.

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You will learn about To develop students critical thinking and analytical abilities around concepts of economics To make students understand key economic principles, theories and relate it to the world they live in. To make students understand how and why markets work and how prices are determined To understand and analyze how output and income are determined at an aggregated level and impact the (un)employment and inflation To help students hone skill sets of analyzing, interpreting economic variables through diagrams, and graphs This course is ideal for individuals who are Beginers who are curios about basic Economic Concepts It is particularly useful for Beginers who are curios about basic Economic Concepts.

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Summary

Title: Economics Made Simple in One Hour

Price: Free

Average Rating: 4.5

Number of Lectures: 6

Number of Published Lectures: 6

Number of Curriculum Items: 6

Number of Published Curriculum Objects: 6

Original Price: Free

Quality Status: approved

Status: Live

What You Will Learn

To develop students critical thinking and analytical abilities around concepts of economics

To make students understand key economic principles, theories and relate it to the world they live in.

To make students understand how and why markets work and how prices are determined

To understand and analyze how output and income are determined at an aggregated level and impact the (un)employment and inflation

To help students hone skill sets of analyzing, interpreting economic variables through diagrams, and graphs

Who Should Attend

Beginers who are curios about basic Economic Concepts

Target Audiences

Beginers who are curios about basic Economic Concepts

This introductory course primarily covers the core and fundamental aspects of microeconomics and macroeconomics. The goal of this course is to make students understand the key economic concepts, theories, and principles and how they relate to the world they live in. The emphasis is laid on building students critical thinking and analytical abilities in microeconomics and macroeconomics. The central focus of this course is how and why markets (one important mechanism for allocating scarce resources) operate, and why markets and pricing principles are fundamental in tradeoff and choice questions. Besides, how the key economic decisions are made by households and firms are discussed and exemplified. Production, costs, and market structures are analyzed at firm level. Key macro-economic issues such as output, income, and employment are discussed and their impact on inflation and other macroeconomic indicators are examined.

Introduction to economics – Basic concepts of Economics – Understanding the philosophy o of economics – Nature of economics: Is economics a science or an art? – Definitional pluralities and distinctions such as micro-versus macro, theories versus models – A brief history of ideas in economics – Techniques of economic analysis: theories, models and tools

Demand, supply, and market equilibrium – Demand and supply applications – Consumer surplus and producer’s surplus – Market efficiency and their applications – Elasticity: its various forms and estimation methods, elasticity, and total revenue – Elasticity applications in the field of energy and environment – Utility, Preferences and Choice – Budget constraints, determination of optimal choices using indifference curve analysis and its applications – Behavioral economics as an alternative framework of consumer choice

Production and Cost – Production Theory – Production function and different forms – Short-run and long-run production function, Isoquants, MRTS – Total, average, and marginal products Economies of scale and scope – Theory of cost – Short-run and long run costs, cost minimization – Total, average and marginal costs – Applications of production and costs theory

Market structure and regulation – Market equilibrium and price determination under different market structure – Perfect and Imperfect market structure, welfare costs of monopoly – Market structure, efficiency, and regulation – Regulation of public monopolies – Application in case of infrastructure industries such as energy and water

National Income Accounting – Measuring national income, output, and employment – different approaches – Determination of aggregate output, price level and interest rate – classical, Keynesian, and modern theories and approaches – GDP estimation

Macro-economic policies – Policy effects: monetary and fiscal policy – Indian monetary and fiscal policies: evidence from its evolving dynamics – Open economy macro-economic: balance of payment, exchange rate, international trade

Course Curriculum

Chapter 1: Introduction

Lecture 1: Introduction to economics

Lecture 2: Understanding the philosophy o of economics

Lecture 3: Four factors of production

Lecture 4: Techniques of economic analysis: theories, models and tools

Lecture 5: Command and Market Economies

Lecture 6: Lesson summary: Introduction to Economics

Instructors

Kelvin Mudita
Economics and Business Instructor at Udemy

Rating Distribution

1 stars: 0 votes

2 stars: 0 votes

3 stars: 3 votes

4 stars: 13 votes

5 stars: 27 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!