Microeconomics - 1: Finding Demand
4.3 (47 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
5,003 students enrolled

Microeconomics - 1: Finding Demand

Theory of Demand through plots and figures
4.3 (47 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
5,003 students enrolled
Created by Amit Goyal
Last updated 6/2016
English
English [Auto-generated]
Price: Free
This course includes
  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What you'll learn
  • choose the right approach to understand and model individual behavior.
Requirements
  • It is recommended that a student should have good exposure to calculus (as is typically covered in high school). You should be comfortable with algebraic and functional notation for variables, sets, and functions.
Description

In this course, you will learn about modelling consumer behavior. You will learn how to create a simple model of consumer who wishes to choose the best affordable consumption plan. This course introduces a unique graphical approach for solving the optimization problems. The methods that you will learn in this course are useful for developing an understanding of how to create simple models in Economics.

Course is drawn from the lectures on problem solving approach that I have been teaching to undergraduate Economics students in Delhi for the past 10 years. This course is meant for students who are interested in learning key ideas in Microeconomics through a problem solving approach. No prior knowledge of Microeconomics is needed, but the student must possess liking for Mathematics and have an interest in problem solving. It is recommended that the student should have good exposure to calculus (as is typically covered in high school). Student must be comfortable with algebraic and functional notation for variables, sets, and functions.

Course consists of mostly videos and small quizzes to test your understanding of the content taught in videos.

Topics: Demand Function, Hicksian Demand, Substitution Effect, Income Effect.

Enjoy learning.

Who this course is for:
  • This course is meant for students who are interested in learning key ideas in Microeconomics through a graphical and problem solving approach. No prior knowledge of Microeconomics is needed, but the student must possess liking for Mathematics and have an interest in problem solving.
Course content
Expand all 18 lectures 01:09:06
+ Introduction
4 lectures 12:22
Introduction
03:16
Budget Line
02:45
Budget Line - Exercise
2 questions
Indifference Curves
02:22
Marginal Rate of Substitution
03:59
Indifference curve - Exercise
1 question
+ Utility Maximization
7 lectures 35:05
Perfect Substitutes (Demand)
04:40
Perfect Substitutes (Demand) - Exercise
1 question
Perfect Complements (Demand)
05:00
Perfect Complements (Demand) - Exercise
1 question
Cobb Douglas (Demand)
06:28
Cobb Douglas (Demand) - Exercise
1 question
Hybrid of Substitutes and Complements
06:21
Hybrid of Substitutes and Complements (Demand) - Exercise
1 question
More is Better
04:15
More is Better - Exercise
1 question
Cobb Douglas (Demand Function)
03:47
Hybrid (Demand Function)
04:34
+ Expenditure Minimization
4 lectures 13:50
Introduction to Hicksian Demand
02:57
Examples - Hicksian Demand
05:13
Hicksian Demand - Exercise
1 question
Cobb Douglas (Hicksian Demand function)
02:34
Perfect Substitutes (Hicksian Demand function)
03:06
+ Substitution Effect & Income Effect
3 lectures 07:49
Introduction to Substitution and Income effect
02:19
Hicksian Approach
02:32
Slutsky Approach
02:58