Diploma in Economics: Microeconomics
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Economics is much more than just numbers and graphs. In fact, we can use economics to explain much of what we encounter in our daily lives. For instance, why is customer service at your local restaurant usually better than that of the cable company? If you want to know the answer to questions like this, then you are in the right place.
With this course “Diploma in Economics: Microeconomics”, learn about all aspects of economics. First, learn about supply, demand, and equilibrium. Understand what causes shifts in supply and demand, what creates surplus and how shortages occur. Then, learn about taxes and subsidies. Do subsidies improve social welfare?
How do we know when government intervention improves social welfare? Furthermore, learn all about how the price system evolves and develops as an effect of “the invisible hand”. Learn about price ceilings and price floors and how these price controls relate to communism. If it is trade you are interested in, then our module on trade will introduce you to the concept of comparative advantage and the most common arguments against trade.
Then, learn all about competition in the market and the effects of monopolies. Examine the monopolies that are created by patents in the pharmaceutical industry and how these patents affect research and development. Lastly, focus on the economics related to you, the consumer. What is price discrimination? Are you a free rider? How can you avoid moral hazard? Learn all this and much more.
This course will be ideal for students studying economics, as a resource for teachers, or for anyone who wants to gain a better understanding of how the economy works.
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