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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..!
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Certificate of completion.
|Section 1: Introduction|
Introduction to the course and the instructorPreview
Introduction to EconomicsPreview
Difference and relation between microeconomics and macroeconomics
|Section 2: Consumer's Equilibrium - Utility Analysis|
Some basics - Consumer, Rational Consumer and EquilibriumPreview
Concept of Utility
Total Utility and Marginal Utility
Law of Diminishing Marginal Utility
|Section 3: Consumer's Equilibrium - Indifference Curve Analysis|
Introducton : Cardinal and Ordinal Concepts of UtilityPreview
Concept of Indifference set and Indifference curve
Properties of Indifference curve
Consumer's Budget : Budget set and Budget line
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.