Last updated 4/2016
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: English | Size: 2.28 GB | Duration: 6h 1m
Microeconomics is packed with applications to our everyday life – this course will help you connect the dots
What you’ll learn
Apply Game Theory to decide whether to be adversarial or co-operative in real-life situations
Determine how best to price products or services that you are selling
Decide the kind of cost structure a firm or enterprise should have, relative to its competitive landscape
Model demand, supply and the effects of income, government regulations and technology
Requirements
This course assumes no prior knowledge of economics, finance or accounting
Description
This is a zoom-in, zoom-out, connect-the-dots tour of Game Theory, Competition and the Elasticity of Demand andSupply.
Let’s parse that
‘connect the dots’: Economics is deep – even the simplest concepts in Micro-Econ 101 are missed by leaders in business and politics, and commit basic errors in judgment. This course makes sure that won’t happen to you.’zoom in’: Getting the details is very important in economics – you really have to understand the nitty-gritty of graphs and intersecting curves and lines. There is a lot of meaning in those details’zoom out’: The real value of economics, particularly microeconomics, is in taking seemingly over-simplified models, and then applying insights from those over-simplified models to the world at large. This course makes sure you can go from the specific to the general.
What’s Covered
Game Theory: Discounting and price wars, Prisoner’s dilemma and nuclear arms races, Winner-takes-all games and the commercialization of sport.Competition: Perfect competition, monopoly and monopolistic competitionFirm Costs: The deep meaning underlying total and marginal costs, and the least-cost principleUtility and Consumer Equilibrium: Indifference curves, and relating price and value. Income effects, and deriving Demand curves from indifference curvesApplications of Elasticity: Modeling taxes, the troublesome economics of agriculture, minimum wages. Elasticity, Demand and Supply: Defining and using elasticity. Linear Demand Curves and a neat trick. Demand and Supply demystified.
Overview
Section 1: You, Us & This Course
Lecture 1 You, Us & This Course
Section 2: Demand
Lecture 2 The Law of Demand
Lecture 3 Examples of the Law of Demand
Lecture 4 Veblen Goods
Lecture 5 Giffen Goods
Lecture 6 Income Effects on Demand
Lecture 7 Complements and Substitutes
Section 3: Supply
Lecture 8 The Law of Supply
Lecture 9 Examples of the Law of Supply
Lecture 10 Inflation, Technology and Government
Lecture 11 Market Equilibrium
Section 4: Elasticity
Lecture 12 Elasticity and Price Sensitivity
Lecture 13 Horizontal and Vertical Demand Curves
Lecture 14 Revenue Maximisation
Lecture 15 Elasticity of Veblen and Giffen Goods
Lecture 16 Income and Cross-Elasticities
Lecture 17 Elasticity and Linear Demand Curves
Section 5: Applications of Elasticity
Lecture 18 Taxes
Lecture 19 Agriculture
Lecture 20 Minimum Wages
Lecture 21 Price Controls
Section 6: Utility
Lecture 22 Utility and Diminishing Marginal Utility
Lecture 23 The Paradox of Value
Lecture 24 Indifference Curves and Consumer Equilibrium
Lecture 25 Deriving Demand Curves and Income Effects from Indifference Curves
Lecture 26 Consumer Surplus
Section 7: Firms
Lecture 27 Factors of Production
Lecture 28 Total and Marginal Product
Lecture 29 The Least Cost Principle
Lecture 30 Returns to Scale
Section 8: Costs
Lecture 31 Total and Marginal Costs
Lecture 32 Average and Marginal Costs
Lecture 33 Types of Supply Curves
Section 9: Competition
Lecture 34 Long Run, Short Run
Lecture 35 Perfect Competition
Lecture 36 Profit Maximisation in Perfect Competition
Lecture 37 Monopoly
Lecture 38 Monopolistic Competition
Section 10: Game Theory
Lecture 39 Discounting & Loyalty
Lecture 40 The Rivalry Game
Lecture 41 Trust and Honor in Organized Crime
Lecture 42 Winner-Takes-All Games and Sports in Society
Yep! Business majors and aspiring MBAs,Yep! Finance professionals who are rusty on economics, and its role in how firms compete and operate,Yep! Strategy professionals looking for a theoretical grounding in concepts like game theory and elasticity,Yep! Aspiring entrepreneurs eager to understand how to react to competition
Homepage
https://www.udemy.com/course/micro-econ-game-theory/
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