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Economics: How Consumers Take Buying Decisions

Learn basics of economics and understand the consumer decision making process
4.6 (5 ratings)
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1,482 students enrolled
Created by Shubham Kalra
Last updated 5/2016
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  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What Will I Learn?
Understand basics of microeconomics
Understand how consumers make buying decisions
View Curriculum
  • A willingness to learn economics
  • This course starts from the basics and assumes you have no background in Economics

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
Expand All 13 Lectures Collapse All 13 Lectures 01:02:34
3 Lectures 06:49

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

Concept of Utility

Total Utility and Marginal Utility

Law of Diminishing Marginal Utility

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

Concept of Indifference set and Indifference curve

Properties of Indifference curve

Consumer's Budget : Budget set and Budget line

Consumer's Equilibrium
About the Instructor
4.5 Average rating
138 Reviews
6,974 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.

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