Learn about supply, demand, and taxes and how they impact the economy with this free online microeconomics course.Well-known economists Tyler Cowen and Alex Tabarrok bring microeconomics to life in this free online course. Engaging, easy-to-follow lessons explore how the supply of goods and services drives an economy, how prices help co-ordinate market activity, and how consumers respond to changes in price. Study the relationship between price and supply, examine the elasticity of supply and demand, and gain an understanding of taxes and subsidies, today!
| College | Alison |
| Course ID | 195482 |
| Course Type | Online Learning |
| Course Qualification | CPD Certificate |
| Course Duration | 1.5-3 hours |
| Course Fee | Free |
| Entry Requirements | Like all courses on the Alison Free Learning platform this is a free, CPD-accredited course. A Graduate can choose to buy a certificate or diploma upon successful completion of a course, but this is not required or necessary. At Alison we believe that free education, more than anything, has the power to break through boundaries and transform lives. Alison is the world’s largest free online empowerment platform for education and skills training, offering over 5000 CPD accredited courses and a range of impactful career development tools. It is a for-profit social enterprise dedicated to making it possible for anyone, to study anything, anywhere, at any time, for free online, at any subject level. Through our mission, we are a catalyst for positive social change, creating opportunity, prosperity, and equality for everyone. |
| Career Path | What You Will Learn In This Free Course • Define the terms 'demand curve' and 'supply curve' • Identify the factors that may create a shift in supply or demand • Define 'equilibrium quantity' and 'equilibrium price' • Explain how surplus is created and calculate consumer surplus • Define 'elasticity' and list the determinants of elasticity • Explain the midpoint formula and use it to calculate the elasticity of supply • Define 'taxes' and 'tax subsidies' • Discuss who bears the burden of taxes, particularly regarding social security, wage subsidies, and affordable healthcare • Define and discuss 'deadweight loss' |
| Course Code | 1271 |
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