|
via Udemy |
Go to Course: https://www.udemy.com/course/micro-econ-game-theory/
Certainly! Here's a comprehensive review and recommendation for the Coursera course "Economics: Competition, Elasticity, a little Game Theory": --- **Course Review: Economics: Competition, Elasticity, a Little Game Theory** **Overview:** "Economics: Competition, Elasticity, a Little Game Theory" offers a compelling and accessible deep dive into some of the fundamental concepts of microeconomics. Designed to bridge the gap between theory and real-world application, this course emphasizes the importance of understanding both the minutiae of economic graphs and the overarching principles that influence business and policy decisions. **Content & Highlights:** The course skillfully balances 'zooming in' on the details—such as the nuances of graphs, curves, and intersecting lines—and 'zooming out' to make sense of how simplified models can be applied broadly. This dual approach ensures learners develop both precision in understanding core concepts and the capacity to use these insights for practical decision-making. Key topics covered include: - **Game Theory:** Exploring strategic interactions like price wars, prisoner’s dilemma, and winner-takes-all scenarios, illustrating how strategic behaviour influences market outcomes. - **Competition Models:** Analyzing perfect competition, monopolies, and monopolistic competition, essential for understanding market structures. - **Firm Costs:** Unveiling the true meaning behind total costs, marginal costs, and the least-cost principle. - **Utility & Consumer Equilibrium:** Delving into indifference curves, price and value relationships, and deriving demand curves. - **Elasticity Applications:** Examining how elasticity influences taxation, agricultural economics, and minimum wage policies. - **Demand & Supply:** Demystifying the core concepts of demand and supply, including linear demand models and their practical implications. **Why I Recommend This Course:** If you're a student, business leader, policymaker, or simply someone interested in understanding how economic forces shape our world, this course is a valuable resource. Its focus on both detailed graphical understanding and broader application provides a well-rounded foundation. The course’s approach helps prevent common misconceptions in economic reasoning, empowering you to make better-informed decisions. **Final Thoughts:** This course is ideal for learners at the beginner to intermediate level who seek clarity on complex concepts and practical insights. Its engaging content makes microeconomic principles accessible without sacrificing depth, making it a worthwhile addition to any economics education journey. --- **Would I recommend this course? Absolutely.** It’s a well-rounded, insightful, and accessible exploration of critical microeconomic concepts that can significantly enhance your understanding of market mechanisms, strategic interaction, and economic decision-making. --- Let me know if you'd like a more tailored review or additional details!
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.