About this course
This course is part of the new MITx MicroMasters program in Data, Economics, and Development Policy (DEDP). To enroll in the MicroMasters track or to learn more about this program and how it integrates with MIT’s new blended Master’s degree, please visit the MicroMasters portal.
What is produced in an economy? How is it produced? Who gets the product? Microeconomics seeks to answer these fundamental questions about markets.
In this course, we’ll introduce you to microeconomic theory, together with some empirical results and policy implications. You’ll analyze mathematical models that describe the real-world behavior of consumers and firms, and you’ll see how prices make the world go ‘round.
You’ll join the ranks of business executives, policymakers, entrepreneurs, and global leaders who rely on the insights they derive from a working knowledge of microeconomics. Nobel memorial prize-winner Paul Samuelson invented the modern microeconomics curriculum at MIT. Now is your chance to learn the field from the intellectual tradition he began.
- Consumer theory
- Supply and demand
- Market equilibrium
- Producer theory
- Capital markets
- Welfare economics
- Public goods
Our course previews are meant to give prospective learners the opportunity to get a taste of the content and exercises that will be covered in each course. If you are new to these subjects, or eager to refresh your memory, each course preview also includes some available resources. These resources may also be useful to refer to over the course of the semester.
A score of 60% or above in the course previews indicates that you are ready to take the course, while a score below 60% indicates that you should further review the concepts covered before beginning the course.
Please use the this link to access the course preview.
What you'll learn
- microeconomic concepts and analysis
- supply and demand analysis
- theories of the firm and individual behavior, competition and monopoly, and welfare economics.
Week One: Introduction & Supply and Demand
Week Two: Consumer Choice
Week Three: Applying Consumer Theory
Week Four: Firms and Production; Costs
Week Five: Competitive Firms and Markets
Week Six: Applying the Competitive Model; Monopoly
Week Seven: Oligopoly and Monopolistic Competition
Week Eight: International Trade; Uncertainty
Week Nine: Capital Markets
Week Ten: Equity
Week Eleven: Behavioral Economics; Health Economics