Microeconomics

Course Content from McGraw-Hill
Course Number: ECON102
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Microeconomics continues the lessons begun with Macroeconomics by analyzing the manner in which markets resolve the problem posed by a scarcity of resources. This online course constructs a model of efficiency and analyzes it through the topics of demand, supply, production, distribution, consumer choice, behavior of the firm, and market structure. Considerations of market failures and the role of government in a market-driven society complete the analysis. Other topics in the microeconomics include international trade and finance.

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college credits
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Self Paced
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Economics
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154 Reviews
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  • 10/29/14 by cheema.d
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  • 10/29/14 by cheema.d
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  • 10/27/14 by millerdarrenj
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  • 10/27/14 by millerdarrenj
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  • 10/23/14 by dyoneal
    It not only cost effective, but you really can learn
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  • 10/23/14 by dyoneal
    It not only cost effective, but you really can learn
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  • 10/5/14 by tiffany.p
    This is a great course. There is a lot of information but there is also a lot of resources and support. I do not believe this course was intended to be completed within 30 days. There is way too much information.
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  • 10/2/14 by srinadh.v
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  • 9/25/14 by savaliya.h
    Straighterline provided a flexible way to complete my courses and that was great.
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  • 9/25/14 by savaliya.h
    Straighterline provided a flexible way to complete my courses and that was great.
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  • 9/21/14 by ajean013
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  • 9/21/14 by ajean013
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  • 9/17/14 by parul.p27
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  • 9/17/14 by parul.p27
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  • 9/7/14 by kt3193
    Some questions were worded poorly and hard to understand. Other than that you can do well if you have the textbook.
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  • 8/31/14 by martina.i88
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  • 8/31/14 by martina.i88
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  • 8/30/14 by jafoster
    This is an excellent course. Personally, I think it went into a lot more detail than required, but if you plan on taking other Economic classes like International Trade, then this will definitely help you out. Some of the exam questions were a little specific. For example, in the midterm and final exam, there were very specific questions, that I definitely couldn't recall.
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  • 8/30/14 by jafoster
    This is an excellent course. Personally, I think it went into a lot more detail than required, but if you plan on taking other Economic classes like International Trade, then this will definitely help you out. Some of the exam questions were a little specific. For example, in the midterm and final exam, there were very specific questions, that I definitely couldn't recall.
    Content Rating
    Overall Rating
  • 8/30/14 by pechase
    This course was very informative. The textbook was relatively easy to understand.
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  • 8/30/14 by pechase
    This course was very informative. The textbook was relatively easy to understand.
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  • 8/29/14 by dsykes
    This is
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  • 8/29/14 by dsykes
    This is
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  • 8/14/14 by johnnyc
    It was pretty cool being able to take this course on my own pace and time.
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  • 8/14/14 by johnnyc
    It was pretty cool being able to take this course on my own pace and time.
    Content Rating
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  • 8/8/14 by samdmante
    Very good
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  • 8/8/14 by samdmante
    Very good
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  • 8/3/14 by dashy.mg
    It was simply great.
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  • 8/3/14 by dashy.mg
    It was simply great.
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  • 8/2/14 by animesh.k
    very good course
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  • 8/2/14 by animesh.k
    very good course
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  • 7/30/14 by nicolaspendl
    took longer than ex
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  • 7/30/14 by nicolaspendl
    took longer than ex
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  • 7/16/14 by Vvanisheuskaya
    It was an okay course. You have to actually sit there and understand most of it if you want to pass.
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  • 7/16/14 by Vvanisheuskaya
    It was an okay course. You have to actually sit there and understand most of it if you want to pass.
    Content Rating
    Overall Rating
  • 7/11/14 by khushinderrandhawa
    The course was very knowledgeable . The practice exams were very informative. On the whole course provided me in depth knowledge of the subject.
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  • 7/11/14 by khushinderrandhawa
    The course was very knowledgeable . The practice exams were very informative. On the whole course provided me in depth knowledge of the subject.
    Content Rating
    Overall Rating
  • 7/9/14 by kt3193
    Some questions were worded poorly and hard to understand. Other than that you can do well if you have the textbook.
    Content Rating
    Overall Rating
  • 7/7/14 by mmstevens.545
    Very organized and thorough course on Microeconomics
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  • 7/7/14 by mmstevens.545
    Very organized and thorough course on Microeconomics
    Content Rating
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  • 7/5/14 by cebu2788
    Great course. Learned a lot about microeconomics.
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  • 7/5/14 by cebu2788
    Great course. Learned a lot about microeconomics.
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  • 7/3/14 by peytonmcgee
    It was decent. Pretty straightforward.
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  • 7/3/14 by peytonmcgee
    It was decent. Pretty straightforward.
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  • 5/10/14 by tiffany.p
    This is a great course. There is a lot of information but there is also a lot of resources and support. I do not believe this course was intended to be completed within 30 days. There is way too much information.
    Content Rating
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  • 2/10/14 by srinadh.v
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  • 9/19/13 by tcaro
    The lessons that are provided throughout the class cover a very very small percentage of what you need to know. Also, understand that it is important to stay dedicated to doing the class and not put it off
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  • 9/9/13 by williams
    ok
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  • 9/6/13 by jacobthegreat2008
    it was ok
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  • 8/26/13 by lil_ebb
    .
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  • 8/22/13 by ldub4455
    good course
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  • 8/20/13 by elizabeth.l
    Good - a lot of work, but good considering there were so many scores to help buffer any bad grades.
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  • 8/20/13 by livia.k
    good and true to the book
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  • 8/19/13 by philipp.h
    The course provided a nice and condensed overview over microeconomics for me. Well-structured and not too time-consuming course.
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  • 8/13/13 by gregashton90
    This course was very well put together! The lessons were easy to navigate and the information was very straight forward. I would recommend this course to anyone looking to take economics.
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  • 8/7/13 by michelle.rosewell
    This course is easy and can be completed very quickly. I loved taking this class.
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  • 8/5/13 by anh.s.dong
    The test material some how is missing or incorrect
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  • 8/5/13 by zjones3
    Very good
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  • 7/26/13 by tameemkhan
    A good compposite course
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  • 7/24/13 by jeffgrattan25
    Great when you have a busy schedule.
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  • 7/12/13 by Lawrence.IreneA
    I learned a ton and most of the concepts were presented in a straight-forward manner.
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  • 7/12/13 by chestermanj1
    This course was painless, quick and easy. I completed it in less than 2 weeks!
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  • 7/10/13 by cartera3
    Straightforward in regards to what is required. You really need to rely on the text though. The lesson slide show is informative, but you can't just use it for the tests. Overall it was awesome because I was able to complete courses within 3 weeks while working and enjoying my summer.
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  • 5/30/13 by motesc
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  • 5/10/13 by gbilas
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  • 5/10/13 by marshantonio64
    i was doing fairly well untill my last test and i got a 68.5 and that hurts bad
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  • 5/9/13 by bowlingalone
    It was good, I needed to read the book a lot.
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  • 4/26/13 by jenntalley69
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  • 2/16/13 by amerineni
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  • 1/6/13 by alawson
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  • 12/31/12 by bwwlhg
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  • 12/30/12 by mpb43055
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  • 12/28/12 by klawson007
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  • 11/16/12 by bradyehines
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  • 11/16/12 by bradyehines
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  • 10/18/12 by Bluesky_believe
    I like the fact that I could take these courses at my own pace.
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  • 8/15/12 by Bluesky_believe
    I like the fact that I could take these courses at my own pace.
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  • 8/10/12 by k1w169
    I liked that micro and macroeconomics had overlapping information. It made it easier and made me feel more confident
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  • 5/17/12 by gspatola
    I liked the practice tests
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  • 5/7/12 by schulmansm
    I liked the Review Presentations because I felt that they clearly explained the main concepts in the topic.
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  • 4/23/12 by ftinoke
    I liked the whole course setup becasue it was an easy way for me to learn with out a professor and it is online.
    Overall Rating
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  • 3/21/12 by pdesmay
    I thought it was a straight forward easy to use program.
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  • 3/7/12 by k1w169
    I liked that micro and macroeconomics had overlapping information. It made it easier and made me feel more confident
    Content Rating
    Overall Rating
  • 2/27/12 by kylehausam
    Loads of information. Great course
    Overall Rating
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  • 2/12/12 by karinitapl
    The aspect that I liked best from the course were the presentations since they helpful to understand better the concept of Microeconomics.
    Overall Rating
    Content Rating
  • 1/3/12 by mikeniday
    The tests were very fair. There were many small chapters with an exam at the end of each. This required less memorization at one time. The advisors were exemplary. Although there were several issues over the course of the class, the advisors were quick to resolve the issues.
    Overall Rating
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  • 8/19/11 by gspatola
    I liked the practice tests
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  • 7/25/11 by schulmansm
    I liked the Review Presentations because I felt that they clearly explained the main concepts in the topic.
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  • 7/4/11 by globalposition2
     
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  • 6/27/11 by mistrey00
     
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  • 6/27/11 by mwong320
     
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  • 6/23/11 by zfalbo1544
     
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  • 6/23/11 by ftinoke
    I liked the whole course setup becasue it was an easy way for me to learn with out a professor and it is online.
    Content Rating
    Overall Rating
  • 4/6/11 by pdesmay
    I thought it was a straight forward easy to use program.
    Content Rating
    Overall Rating
  • 2/12/11 by kylehausam
    Loads of information. Great course
    Content Rating
    Overall Rating
  • 1/7/11 by karinitapl
    The aspect that I liked best from the course were the presentations since they helpful to understand better the concept of Microeconomics.
    Content Rating
    Overall Rating
  • 10/3/10 by mikeniday
    The tests were very fair. There were many small chapters with an exam at the end of each. This required less memorization at one time. The advisors were exemplary. Although there were several issues over the course of the class, the advisors were quick to resolve the issues.
    Content Rating
    Overall Rating
  • 7/29/09 by globalposition2
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  • 7/28/09 by amyartiga
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  • 7/27/09 by bdstaub
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  • 7/26/09 by brandon.jemison7
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  • 7/25/09 by brandon.jemison7
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  • 7/24/09 by chrislane125
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  • 7/23/09 by damian.k.baker
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  • 7/22/09 by FLOYDDELL.WILSON3
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  • 7/20/09 by jeff.miko
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  • 7/14/09 by MichaelNojlander
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  • 7/9/09 by reginald.g.lee
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Course Objectives

After completing this course, students will be able to:

  • Identify and apply relevant terminology and concepts to economic issues and problems.
  • Compare and contrast the market system of economics with other systems.
  • Analyze and synthesize the public and private sectors of the U.S. economy.
  • Use demand and supply models in the analysis of real-world issues.
  • Use the theory of consumer choice to explain and to predict consumer behavior.
  • Use market structure models to explain and to predict business firm behavior.
  • Explain the basis for and the benefits of trade.
Topic Lesson Topic Subtopics Objectives
1 Limits, Alternatives, and Choices
  • The Economic Perspective
  • Theories, Principles, and Models
  • Macroeconomics and Microeconomics
  • The Economizing Problem
  • Production Possibilities Curve
  • Graphs
  • Identify and describe three interrelated features of how economists think about the world.
  • Define opportunity cost and provide an example.
  • Differentiate between a theory, a principle, and a model.
  • Explain the usefulness of the "other-things-equal" assumption in economics analysis.
  • State the difference between Macroeconomics and Microeconomics.
  • Explain the difference between positive and normative economics.
  • Explain the Economizing Problem as it relates to the individual and to society.
  • Explain the message of the basic production possibilities curve.
  • Represent a relationship between two variables with a graph.
2 The Market System and Circular Flow
  • Economic Systems
  • Characteristics of the Market System
  • Five Fundamental Questions
  • The Circular Flow Model
  • Define economic system and explain the function of systems.
  • Identify two major economic systems.
  • Identify and explain the characteristics of the market system.
  • Identify and explain the five questions all economic systems must address.
  • Analyze the Circular Flow Model.
  • Explain why Adam Smith believed the "invisible hand" would promote the public or social interest.
  • Analyze the Circular Flow Model in terms of its various components.
3 Demand, Supply, and Market Equilibrium
  • Markets
  • Demand
  • Supply
  • Market Equilibrium
  • Describe markets and their function.
  • Explain the inverse relationship between price and quantity demanded under the "all else equal" assumption.
  • Identify the determinants of demand.
  • Explain and graphically illustrate the difference between a change in quantity demanded and a change in demand.
  • Explain the positive relationship between price and quantity supplied under the "all else equal" assumption.
  • Identify the determinants of supply.
  • Explain and graphically illustrate the difference between a change in quantity supplied and a change in supply.
  • Explain and graphically illustrate market equilibrium.
  • Explain the difference between production efficiency and allocation efficiency.
  • Apply demand and supply analysis to real-world issues and problems.
4 The U.S. Economy: Private and Public Sectors
  • U.S. Households
  • U.S. Businesses and Business Organization
  • The Public Sector and Role of Government
  • The Circular Flow Model With Government
  • Government Budget Outlays and Receipts
  • Describe the functional distribution of U.S. income.
  • Describe the personal distribution of U.S. household income.
  • Describe the disposition of U.S. household income.
  • State the difference between the various legal forms of business.
  • Identify the economic functions of governments.
  • Analyze the Circular Flow Model that includes the government sector.
5 The United States in the Global Economy
  • International Trade
  • Specialization and Comparative Advantage
  • The Foreign Exchange Market
  • Government and Trade
  • Trade Organizations and Agreements
  • Analyze the economic flows that link the U.S. and the economies of other nations.
  • Describe U.S. export and import data as a percent of GDP over time.
  • Define comparative advantage and use a table to illustrate the concept.
  • Construct a table illustrating the gains from specialization.
  • Use a demand and supply model to show how exchange rates are determined.
  • Use a demand and supply model to illustrate currency appreciation and depreciation.
  • Identify common trade barriers imposed by governments and explain why governments interfere with trade.
  • Compare and contrast the notable trade organizations and agreements.
  • Analyze global competition.
6 Extension of Demand and Supply Analysis
  • Price Elasticity of Demand
  • Price Elasticity of Supply
  • Cross Elasticity of Demand
  • Income Elasticity of Demand
  • Consumer and Producer Surplus
  • Deadweight Loss
  • Calculate price elasticity of demand using the mid-point and the percentage formulas.
  • Interpret the price elasticity demand coefficient.
  • Explain and illustrate the total revenue test.
  • Compare and contrast inelastic and elastic demands.
  • Explain what determines price elasticity of demand.
  • Apply price elasticity of demand to real-world issues.
  • Contrast the short-run and the long-run with respect to price elasticity of supply.
  • Apply price elasticity of supply to real-world issues.
  • Use cross-price elasticity of demand to define substitute goods, complementary goods, and independent goods.
  • Compare and contrast consumer and producer surplus.
  • Illustrate deadweight losses due to over- or under-production of an economic good.
7 Consumer Behavior and Utility Maximization
  • Consumer Choice and Budget Constraint
  • Utility Maximization and the Demand Curve
  • Explain and illustrate The Law of Diminishing Marginal Utility.
  • Use The Law of Diminishing Marginal Utility to explain the shape of a typical demand curve.
  • Use the utility-maximizing rule to determine how a consumer will allocate a fixed income in the purchase of two goods.
  • Use the utility-maximization rule to derive the demand for a product.
  • Explain the income and substitution effects.
  • Use the theory of consumer behavior to explain real-world phenomena.
8 The Costs of Production
  • The Meaning of Cost in Economics
  • The Meaning of Profit in Economics
  • The Short Run and Long Run
  • The Law of Diminishing Returns
  • Short- and Long-Run Production Costs
  • Scale Economics
  • Analyze a firm's response to a change in demand in both the shortand long run.
  • Explain how the Law of Diminishing Returns impacts a firm's short-run costs.
  • Compare and contrast Economies and Diseconomies of scale.
9 Pure Competition
  • Characteristics of Pure Competition
  • Short-run Profit Maximization
  • Long-Run Profit Maximization
  • Pure Competition and Efficiency
  • Identify the characteristics of the representative firm operating under the conditions of pure competition.
  • Analyze the demand faced by the purely competitive firm.
  • Calculate the purely competitive firm's level of production and profit (or loss) in the short run using two methods.
  • Explain the condition under which the purely competitive firm will shut down in the short run.
  • Derive the competitive firm's short-run supply curve.
  • Analyze the purely competitive firm's long-run equilibrium.
  • Compare and contrast constant-cost, increasing-cost, and decreasing-cost industries.
  • Explain the efficiency implications of pure competition.
10 Pure Monopoly
  • Characteristics of Pure Monopoly
  • Monopoly Demand
  • Monopoly Output and Price Determination
  • Efficiency Implications of Pure Monopoly
  • Price Discrimination
  • The Regulated Monopoly
  • Compare and contrast the characteristics of pure monopoly with those of pure competition.
  • Compare and contrast the demand curve and marginal revenue curve of the monopolist with that of the purely competitive firm.
  • Use the MR=MC rule to determine the monopolist's profit maximizing price and output.
  • Analyze the economic effects of monopoly.
  • Define price discrimination.
  • Identify real-world examples of price discrimination.
  • Analyze the various ways monopoly is regulated.
11 Monopolistic Competition and Oligopoly
  • Characteristics of Monopolistic Competition
  • Price and Output Determination in Monopolistic Competition
  • Monopolistic Competition and Efficiency
  • Characteristics of Oligopoly
  • Game Theory
  • Models of Oligopoly
  • Oligopoly and Efficiency
  • Compare and contrast the characteristics of monopolistic competition with those of pure competition.
  • Use the MR=MC rule to determine the monopolistically competitive firm's output and price in the short and long run.
  • Analyze the efficiency implications of the monopolistically competitive market.
  • Identify the conditions that lead to oligopoly.
  • Analyze concentration ratios across industries.
  • Use Game Theory to explain pricing behavior in oligopolistic markets.
  • Analyze three models of Oligopoly.
  • Analyze the efficiency implications of oligopoly.
12 Technology, R&D, and Efficiency
  • Invention, Innovation, and Diffusion
  • Research and Development
  • Imitation and R&D Incentives
  • Market Structure and Technological Advance
  • Compare and contrast Invention, Innovation, and Diffusion.
  • Explain the modern view of technological advance.
  • Use marginal analysis to determine the firm's optimal amount of R&D.
  • Explain how dominant firms use the fast-second strategy to maximize profit.
  • Identify the strengths and weaknesses of each market structure with respect to technological advance.
  • Present a real-world example of creative destruction.
13 The Demand for Resources
  • Marginal Productivity Theory
  • Resource Demand Under Imperfect Product Market Competition
  • Determinants of Resource Demand
  • Elasticity of Resource Demand
  • Optimal Combination of Resources
  • Marginal Productivity Theory of Income Distribution
  • Derive the demand for resources in perfectly competitive and imperfectly competitive markets.
  • Explain how changes in the determinants of resource demand impact the demand for resources.
  • Analyze current trends in employment.
  • Explain the main determinants of resource demand elasticity.
  • Determine the optimal combination of resources using two methods.
  • List criticisms of The Marginal Productivity Theory of Income Distribution.
14 Wage Determination
  • Labor, Wages, and Earnings
  • Perfect Competition in the Labor Market
  • Imperfect Competition in the Labor Market
  • The Minimum Wage Debate
  • Wage Differentials
  • Compare and contrast Invention, Innovation, and Diffusion.
  • Distinguish between nominal wages and real wages.
  • Describe the relationship between real wages and productivity.
  • Analyze wage determination in a purely competitive labor market.
  • Compare and contrast the monopsony model of wage determination with that of the purely competitive model.
  • Use the bilateral monopoly model to explain wage and employment determination.
  • State a case for and against the minimum wage.
15 Rent, Interest, and Profit
  • Economic Rent
  • Interest
  • Economic Profit
  • Explain the existence of economic rent.
  • Use a Loanable Funds Model to explain how interest rates are determined.
  • Analyze the sources of economic profit.
  • Explain the economic function of profit.
16 Government and Market Failure
  • Public Goods
  • Externalities
  • Compare and contrast private goods and public goods.
  • Use the MB=MC rule to determine the optimal quantity of public goods.
  • Define positive and negative externalities.
  • Use the Coase Theorem to analyze a real-world individual bargaining example.
  • Explain various ways in which government can bring about efficiency in the face of externalities.
17 Public Choice Theory and the Economics of Taxation
  • Revealed Preferences
  • Government Failure
  • Apportioning Tax Burdens
  • Tax Incidence and Efficiency Loss
  • Explain how majority voting may produce inefficiencies.
  • Explain how majority voting may bring on results that violate voter preferences.
  • Explain why rent seeking occurs.
  • Contrast progressive, proportional, and regressive taxes.
  • Analyze the relationship between elasticity and tax incidence.
  • Illustrate the efficiency loss of a tax.
18 Antitrust Policy and Regulation
  • The Antitrust Laws and Policy
  • Effectiveness of Antitrust Laws
  • Natural Monopoly
  • Deregulation
  • Social Regulation
  • Describe the most important of the antitrust laws of the U.S. and the historical events leading to the passing of these laws.
  • Describe inconsistencies in antitrust policy.
  • Calculate a Herfindahl Index from data provided.
  • Analyze the conditions that result in the existence of natural monopoly.
  • Explain the economic argument for deregulation.
  • Use the MB=MC rule to determine the optimal level of social regulation.
  • State the main criticisms of social regulation.
19 Agriculture: Economics and Policy
  • The Economics of Agriculture
  • Economics of Farm Policy
  • Criticisms and Politics
  • Recent Reform
  • Present the economics behind the volatility of price and income in the agriculture sector.
  • Present the economics behind the belief that agriculture is a declining industry in the long run.
  • Present an economic argument for farm subsidies.
  • Define parity and give a real-world example.
  • Use a demand and supply model to show the impact of an effective commodity price support program.
  • Use public choice theory to explain why agriculture continues to receive favorable support from government in spite of the strong arguments against doing this.
20 Income Inequality and Poverty
  • Facts About Income Inequality
  • Causes of Income Inequality
  • Income Inequality Over Time
  • Equality versus Efficiency
  • Poverty
  • U.S. Income Maintenance System
  • Construct a Lorenz Curve and calculate Gini Coefficients and interpret both.
  • Analyze the causes of income inequality.
  • Present historical data on income inequality.
  • State the trade-off between equality and efficiency.
  • Define poverty and delineate the incidence of poverty.
  • Analyze the U.S. Income-Maintenance System
21 The Economics of Health Care
  • Costs and Access
  • High and Rising Health Care Costs
  • Why Costs Are Rising So Rapidly
  • Health Care Reform
  • Present current statistics relative to the health care industry.
  • Analyze the health care industry and explain why costs are rising so rapidly in that industry.
  • Use a demand and supply diagram to show why health care costs are rising so rapidly.
  • Use a demand and supply diagram to show that resources are over-allocated to health care when insurance is available.
  • List various options to health care reform.
22 Labor Market Institutions and Issues
  • Unionism in America
  • Economic Effects of Unions
  • Labor Market Discrimination
  • Economic Analysis of Discrimination
  • Immigration
  • Present current statistics relative to unionism in America and abroad.
  • Define important terms relative to unionism.
  • State ways in which unions may decrease economic efficiency.
  • State ways in which unions may increase economic efficiency.
  • Define labor market discrimination and identify the types of discrimination that may occur.
  • Use a demand model to show that if immigration increases from Mexico to the U.S. then world production increases and business income is enhanced.
23 International Trade
  • Some current statistics
  • The Economic Basis for Trade
  • Comparative Advantage
  • Supply and Demand Analysis of Exports and Imports
  • Trade Barriers
  • The Case for Protection
  • Offshoring
  • Present current statistics regarding U.S. international trade.
  • Present the economic basis for trade.
  • Determine comparative advantage from information implicit in two PPCs.
  • Determine terms of trade from information implicit in two PPCs.
  • Determine gains from trade from information implicit in two PPCs.
  • Delineate a case for free trade.
  • Use a demand and supply diagram to show that as world prices increase relative to domestic prices, U.S. exports rise.
  • Use a demand and supply diagram to show that as world prices decrease relative to domestic prices, U.S. imports rise.
  • Analyze the economic impact of trade barriers.
24 Exchange Rates, the Balance of Payments, and Trade Deficits
  • The Balance of Payments
  • Flexible Exchange Rates
  • Fixed Exchange Rates
  • International Exchange Rate Systems
  • Recent U.S. Trade Deficits
  • Explain the Balance of Payments in terms of each of its accounts.
  • Analyze the offsetting transactions that cause the Balance of Payments to always sum to zero.
  • Use demand and supply diagrams to illustrate currency appreciation and depreciation.
  • List the determinants of exchange rates.
  • State the case for flexible exchange rates and potential problems with this case.
  • State the case for fixed exchange rates and potential problems with this case.
  • Compare and contrast the various international exchange rate systems.
  • Analyze recent U.S. trade deficits.
25 Review
  • Supply and Demand
  • Elasticity of Supply and Demand
  • Pure Competition and Monopolies
  • The Cost of Production
  • International Trade Policy
  • Wage Determination
  • Monopolistic Competition and Oligopoly
  • Government and Market Failures
  • Antitrust Policy and Regulation
  • Taxation
  • Agricultural Economics and Politics
  • Income Inequity and Poverty
  • Rent, Interest, and Profit
None

There are no prerequisites to take Microeconomics.

Required Textbook: This course has assigned reading.

Title: Microeconomics eTextbook

ISBN: 9780077800246

Our Price: $82.06

Assigned reading material as part of taking this online course.
bookshelfWith every purchase of an eTextbook through StraighterLine, students have access to their texts via the Bookshelf App which syncs to their course, provides offline access for studying on the go, and more.
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McConnell and Brue's Microeconomics: Principles, Problems, and Policies is the leading Principles of Economics textbook because it is innovative and teaches students in a clear, unbiased way. The 17th Edition builds upon the tradition of leadership by sticking to 3 main goals: help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy.

Microeconomics, 17th Edition Campbell R McConnell, University of Nebraska---Lincoln Stanley L Brue, Pacific Lutheran University, 2008. ISBN 9780073273099

One of the world's leading experts on economic education, William Walstad of the University of Nebraska-Lincoln, has prepared the seventeenth edition of the Study Guide. Many students find the Study Guide indispensable. Each chapter contains an introductory statement, a checklist of behavioral objectives, an outline, a list of important terms, fill-in questions, problems and projects, objective questions, and discussion questions. The answers to Economics' end-of-chapter Key Questions appear at the end of the Study Guide, along with the text's glossary. The Guide comprises a superb "portable tutor" for the principles student. Separate Study Guides are available for the macro and micro paperback editions of the text.

Study Guide: Study Guide to Accompany Economics, 17th Edition Campbell R McConnell, University of Nebraska---Lincoln Stanley L Brue, Pacific Lutheran University, 2008. ISBN 9780073273129

StraighterLine provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.

There are a total of 1000 points in this course:

Topic Assessment Points Available
1 Graded Exam: Limits, Alternatives, and Choices 30
2 Graded Exam: The Market System and the Circular Flow 30
3 Graded Exam: Demand, Supply, and Market Equilibrium 30
4 Graded Exam: The U.S. Economy: Private and Public Sectors 30
5 Graded Exam: The United States in the Global Economy 30
6 Graded Exam: Extensions of Demand and Supply Analysis 30
7 Graded Exam: Consumer Behavior and Utility Maximization 30
8 Graded Exam: The Costs of Production 30
9 Graded Exam: Pure Competition 30
10 Graded Exam: Pure Monopoly 30
11 Graded Exam: Monopolistic Competition and Oligopoly 30
12 Graded Exam: Technology, R&D, and Efficiency 30
12 Midterm Exam 140
13 Graded Exam: The Demand for Resources 30
14 Graded Exam: Wage Determination 30
15 Graded Exam: Rent, Interest, and Profit 30
16 Graded Exam: Government and Market Failures 30
17 Graded Exam: Public Choice Theory and the Economics of Taxation 30
18 Graded Exam: Antitrust Policy and Regulation 30
19 Graded Exam: Agriculture: Economics and Policies 30
20 Graded Exam: Income Inequality and Poverty 30
21 Graded Exam: The Economics of Health Care 30
22 Graded Exam: Labor Market Institutions and Issues: Unionism, Discrimination, and Immigration 30
23 Graded Exam: International Trade 30
24 Graded Exam: Exchange Rates, the Balance of Payments, and Trade Deficits 30
24 Final Exam 140

Final Proctored Exam

The final exam is developed to assess the knowledge you learned taking this course. All students are required to take an online proctored final exam in order complete the course and be eligible for transfer credit.

Learn more about Proctored Exams

Microeconomics continues the lessons begun with Macroeconomics by analyzing the manner in which markets resolve the problem posed by a scarcity of resources. This online course constructs a model of efficiency and analyzes it through the topics of demand, supply, production, distribution, consumer choice, behavior of the firm, and market structure. Considerations of market failures and the role of government in a market-driven society complete the analysis. Other topics in the microeconomics include international trade and finance.

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