Economics: How Consumers Take Buying Decisions
4.5 (4 ratings)
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Economics: How Consumers Take Buying Decisions

Learn basics of economics and understand the consumer decision making process
4.5 (4 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1,487 students enrolled
Created by Shubham Kalra
Last updated 5/2016
English
Current price: $10 Original price: $25 Discount: 60% off
1 day left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand basics of microeconomics
  • Understand how consumers make buying decisions
View Curriculum
Requirements
  • A willingness to learn economics
  • This course starts from the basics and assumes you have no background in Economics
Description

Welcome to my course - Basics of microeconomics : Theory of Consumer Behavior.

In this course, you will understand the theory of how consumers make buying decisions.

There are two approaches to study Consumer's Equilibrium - Utility approach and Indifference curve approach.

In this course, we will discuss the following :
What is economics?
How different and related are microeconomics and macroeconomics?
Who is a consumer, are all human beings consumers?
How can we measure consumer satisfaction?
Which approach is more realistic - Utility approach or Indifference curve approach?
If a consumer is making buying decision then how is his income affecting his decisions?
How does a consumer reach equilibrium?

Some concepts that we will use while discussing the topics mentioned above -

Rational Consumer, Total Utility, Marginal Utility, Law of Diminishing Marginal Utility, Budget Set, Budget Line, Indifference Map and Indifference curve.

This course has 12 video lectures and 1 hour of content.

How will this course benefit you?

If you are an economics student - This will help you in gaining better clarity of concepts.

If you are someone who has a desire to learn economics - This course is the first step that you need to take to fulfill your desire, it starts from the scratch and assumes you have no knowledge of economics.

All that said, if you would like to discuss something while you are learning, please feel free to start a discussion or PM me.

Lets get started..!

Who is the target audience?
  • Students pursuing CS / Bachelor of Commerce / BA (Economics)
  • Complete beginner who has a desire to learn economics
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Curriculum For This Course
13 Lectures
01:02:34
+
Introduction
3 Lectures 06:49


Difference and relation between microeconomics and macroeconomics
02:44
+
Consumer's Equilibrium - Utility Analysis
5 Lectures 25:37

Concept of Utility
02:39

Total Utility and Marginal Utility
04:36

Law of Diminishing Marginal Utility
03:46

Consumer's Equilibrium
08:18
+
Consumer's Equilibrium - Indifference Curve Analysis
5 Lectures 30:08

Concept of Indifference set and Indifference curve
05:25

Properties of Indifference curve
05:32

Consumer's Budget : Budget set and Budget line
10:21

Consumer's Equilibrium
06:36
About the Instructor
Shubham Kalra
4.4 Average rating
182 Reviews
7,896 Students
7 Courses
Business Analyst,M.A. Economics ,Certified Financial Planner

M.A. Economics, Business Analyst, Certified Financial Planner (CFP)

Shubham Kalra has a Masters in Economics from Delhi School of Economics and has worked as a Business Analyst in one of the largest banking and financial services organizations in the world.

He has done research projects in Education and Infrastructure Sector in India involving field work and analysis of data. He holds a diploma in Financial Planning and has good understanding of Risk Management concepts and Financial Instruments as well.

He loves teaching and has been teaching since his college days in  one way or another. It was in 2015, when he started teaching full time and is now teaching Economics and Statistics to many students online.His areas of specialization include Economics, Statistics, Finance and Game theory.