Economics: Competition, Elasticity, a little Game Theory

🎓 Course Title: Economics: Competition, Elasticity, & a Little Game Theory

Headline: Microeconomics is packed with applications to our everyday life - this course will help you connect the dots!

Dive Deep into the World of Microeconomics 🚀

This is a zoom-in, zoom-out, connect-the-dots tour ofGame Theory, Competition and the Elasticity of Demand and Supply.

Why Pars this Course? 🔍

• Connect the dots: Economics is a vast field, even the basics can have profound implications. This course ensures you grasp the fundamentals to avoid common mistakes in judgment.

• Zoom in: Delve into the intricate details of economics. Understanding the nitty-gritty of graphs and the behavior of curves will provide a solid foundation for analysis.

• Zoom out: See how seemingly simple economic models can offer profound insights applicable to real-world scenarios. This course bridges the gap between specific concepts and general applications.

What's Covered in the Course? 📚

Game Theory: Explore the strategies of discounting, understand the dynamics of the Prisoner's Dilemma, analyze nuclear arms races, and dissect winner-takes-all games to comprehend their commercial implications.

Competition: Learn about perfect competition, monopoly, and monopolistic competition, and how they shape market dynamics.

Firm Costs: Uncover the secrets behind total and marginal costs, and the least-cost principle, which are critical for understanding business operations.

Utility and Consumer Equilibrium: Visualize consumer preferences with indifference curves, understand the relationship between price and value, and explore income effects to derive Demand curves.

Applications of Elasticity: Model taxes, navigate the economics of agriculture, and evaluate the impact of minimum wages using elasticity concepts.

Elasticity, Demand and Supply: Master defining and using elasticity, decipher linear Demand Curves, and demystify the concepts of Demand and Supply.

By the end of this course, you'll have a robust understanding of microeconomic principles and their practical applications. You'll be equipped with the tools to analyze economic phenomena and make informed decisions. Whether you're an aspiring economist, a business professional, or simply curious about how economics affects our lives, this course will enlighten your understanding of the market forces that govern our world.

Join us on this journey through the fascinating landscape of microeconomics! 🌟