Overview

Welcome to Economics 1A: Basics of Microeconomics & Market Choices - your comprehensive introduction to the core principles of microeconomics. This course is designed for beginners and will give you a strong foundation in understanding how individuals, households, and firms make decisions, and how these decisions influence the economy.You'll begin by exploring the basic economic problem of scarcity and how societies respond through various economic systems. From there, you'll learn how supply and demand interact to determine prices and how resources are allocated efficiently-or inefficiently-under different market conditions.Key topics include:Opportunity cost and trade-offsConsumer and producer decision-makingMarket equilibrium and price mechanismsPerfect and imperfect competitionGovernment intervention and market outcomesThroughout the course, you'll be introduced to real-world applications and simplified models to help you apply, analyze, and interpret microeconomic concepts. You'll also develop critical thinking skills that are useful in academic, business, and everyday decision-making.This course is ideal for first-year university students, non-economics majors, and anyone curious about how the economy functions at the micro level. No prior knowledge of economics is needed-just a willingness to learn and explore new ideas.Join us now and gain valuable insights into how markets work and how economic decisions are made!

Skills

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