ECON201: Intermediate Microeconomics

Description

This course is designed to extend your knowledge of the basic microeconomic principles that will provide the foundation for your future work in economics and give you insight into how economic models can help us think about important real world phenomena. Topics include supply and demand interaction, utility maximization, profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, and game theory. Microeconomics is the study of rational choice behavior on the part of individual consumers and firms. In general, economists are interested in how market mechanisms solve extremely complex resource allocation problems. This course presents a logical and coherent framework in which to organize observed economic phenomena. Several economic “models” are developed and analyzed in order to help explain and predict a wide variety of economic (and sometimes, seemingly non-economic) phenomena. Microeconomic theory is based on the notion that individuals (and firms) have well defined objectives (e.g., maximizing utility or profits) and behave systematically according to the incentives and constraints of their economic environment. It is this framework which allows the economist to gain a fundamental understanding of the choices people make in an economic setting.



Have you tried this resource?

Help someone out by sharing your thoughts!

Write a review

Have questions about K-12 education?

Ask our community of thousands of teachers, homeschoolers, and parents! Or see recently-asked questions.

Ask a Question

More Ways to Learn Microeconomics

Free

ECON101: Principles of Microeconomics


College | Online class

Before we dive into the principles of microeconomics, we need to define some of the major ideas that lie at the heart of economics. What, for example, is the economic way of thinking? What do...

Free

Microeconomics: The Power of Markets


College | Online class

We make economics decisions every day: what to buy, whether to work or play, what to study. We respond to markets all the time: prices influence our decisions, markets signal where to put effort,...

Free

Microeconomics


9th - College | Online class

This tutorial (that only has one video) is an overview of what economics is. In particular it will tell you the difference between microeconomics (the subject you’re in right now) and...

Free
Paid add-ons

Microeconomics: When Markets Fail


High School - College | Online class

Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and...

Free

Principles of Microeconomics for AP Courses - 2nd Edition


High School | Kindle/ebook, Website, Worksheet/Printable

Principles of Microeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® microeconomics course and is listed on the College Board’s AP® example textbook...

Free

Principles of Microeconomics - 2nd Edition


High School - College | Book, Kindle/ebook, Website, Worksheet/Printable

Principles of Microeconomics 2e covers the scope and sequence of most introductory microeconomics courses. The text includes many current examples, which are handled in a politically equitable way....

Free

The Power of Microeconomics: Economic Principles in the Real World


College | Online class

In this course, you will learn all of the major principles of microeconomics normally taught in a quarter or semester course to college undergraduates or MBA students. Perhaps more importantly, you...

Free

Firm Level Economics: Consumer and Producer Behavior


College | Online class

All goods and services are subject to scarcity at some level. Scarcity means that society must develop some allocation mechanism – rules to determine who gets what. Over recorded history, these...

Free

Firm Level Economics: Markets and Allocations


College | Online class

In this class, we will derive equilibrium outcomes across a variety of market structures. We will begin by understanding equilibrium under a market structure called Perfect Competition, a benchmark...


See all resources for Microeconomics

Links to supporting retailers are recognized and built automatically, so we can provide you with truly unbiased listings.
We receive a small share of sales from those links to help us keep this service free for all learners. Thanks for your support!

Frequently Asked Questions

What is ECON201: Intermediate Microeconomics by Saylor Academy?

ECON201: Intermediate Microeconomics is a learning resource for Microeconomics. It is available in the following format(s): Online class. It is suited for College students.

What grade level is ECON201: Intermediate Microeconomics by Saylor Academy appropriate for?

It is designed for College students, but could be useful for students of other ages as well; please look at the description and images to determine suitability.

How much does ECON201: Intermediate Microeconomics by Saylor Academy cost?

It is free!