Microeconomics - 1: Finding Demand

Theory of Demand through plots and figures
4.6 (6 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.
2,293 students enrolled
Free
Start Learning Now
  • Lectures 18
  • Length 1 hour
  • Skill Level Intermediate Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works

Discover

Find online courses made by experts from around the world.

Learn

Take your courses with you and learn anywhere, anytime.

Master

Learn and practice real-world skills and achieve your goals.

About This Course

Published 6/2016 English

Course 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.

What are the 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.

What am I going to get from this course?

  • choose the right approach to understand and model individual behavior.

What is the target audience?

  • 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.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
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
Section 2: Utility Maximization
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
Section 3: Expenditure Minimization
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
Section 4: Substitution Effect & Income Effect
Introduction to Substitution and Income effect
02:19
Hicksian Approach
02:32
Slutsky Approach
02:58

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Amit is a doctoral student in Quantitative Economics at the Indian Statistical Institute. His research interests include Economic Theory, Decision Theory, and Industrial Organization. In addition to this, Amit also runs an institution called "Econ School" where he teach students who are interested in pursuing higher studies in economics. His teaching methods particularly focuses on designing interesting and challenging problems in probability, statistics, and economics.

Ready to start learning?
Start Learning Now