Microeconomics
Use economic models to learn how prices and markets allocate resources in the face of scarcity.
Microeconomics
Use economic models to learn how prices and markets allocate resources in the face of scarcity.
What is produced in an economy? How is it produced? Who gets the product? Microeconomics seeks to answer these fundamental questions about markets.
What you'll learn
The course will investigate the following topics:
- Supply and Demand
- Consumer Choice
- Applying Consumer Theory
- Firms, Production, and Costs
- Competitive Firms and Markets
- Applying the Competitive Model and Monopolies
- Oligopoly and Monopolistic Competition
- International Trade and Uncertainty
- Capital Markets
- Equity
- Behavioral Economics and Health Economics
Access the full syllabus here.
Prerequisites
While anyone can enroll in this course, it is helpful to have the following knowledge to successfully complete the course: elementary calculus, such as the following MITx courses:
- Calculus 1A: Differentiation
- Calculus 1B: Integration
- Calculus 1C: Coordinate Systems & Infinite Series
Various other resources will be available throughout the course for students to learn or refresh on the most important topics.
Course Readiness Check:
Our course readiness checks help you determine if you should review key concepts before starting the course.
Please use this link to access the course readiness check and answer key.
Meet your instructors
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Ford Professor of Economics
Jonathan Gruber
Jonathan Gruber
Ford Professor of Economics
Dr. Jonathan Gruber is the Ford Professor of Economics at the Massachusetts Institute of Technology, where he has taught since 1992. He is also the Director of the Health Care Program at the National Bureau of Economic Research, where he is a Research Associate, and President of the American Society of Health Economists. He is a member of the Institute of Medicine, the American Academy of Arts and Sciences, and the National Academy of Social Insurance. He has published more than 150 research articles, has edited six research volumes, and is the author of Public Finance and Public Policy, a leading undergraduate text, and Health Care Reform, a graphic novel. In 2006 he received the American Society of Health Economists Inaugural Medal for the best health economist in the nation aged 40 and under.