About this Course

Economics and economic theory is fundamental to decision making in business, policy, and everyday life. If you\'re interested in a career in business, law, accounting, or investment then studying economics is a great foundation of knowledge. In this first course of a three course Specialization adapted from my ECON 100 course taught at Rice University, we\'ll cover the introduction to the basic concepts of microeconomics and macroeconomics. Microeconomics component includes analysis of supply and demand, consumer and producer behavior, and competitive and noncompetitive market equilibria, with applications to current policy issues. Macroeconomics component provides an overview of the determination of national output, employment, interest rates, and inflation, and analyzes monetary fiscal policies and international trade. More specifically here\'s some things you should be able to do by the end of the course: 1. Identify how Opportunity Costs affect economic decisions. 2. Discover the basics of the study of economics 3. Compare the long and short of economic theory 4. Link trade and national production 5. Discuss what tradeoffs nations face in production 6. Determine how market supply relates to prices 7. Compare the relationships between the price elasticity of demand and revenue 8. Discover how taxes affect supply and demand Lastly there is a book that I\'ve written that coincides with this and the other two courses in the Specialization. You can purchase it here:

Created by: Rice University