| |  | PreM.B.A. Microeconomics
Learn the basic tools of microeconomics and how they can be applied to different market structures.
| Timeframe: | Self-paced and dependent upon the student | | Completion Date: | Six weeks after enrollment | | Prerequisites: | None | | Suite Price: | US $195 |
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How is this course relevant?
The study of consumers, producers, and their interactions over goods and services is a basic building block for business success. As such, it is important to explore the tools used by businesses in this important arena.
"PreM.B.A. Microeconomics" looks at two alternative market structures to help you understand how to apply the basic tools of microeconomics. It includes pre- and post-assessments that allow you to evaluate your mastery of course content before and after studying the course material. It also features practice items and challenge problems of varying degrees of difficulty to help you learn concepts and gauge your knowledge.
Who should take this course?
"PreM.B.A. Microeconomics" is for students about to enter an M.B.A. program, whether you need a comprehensive refresher in microeconomics or just want to make sure you are appropriately prepared for M.B.A. coursework. It is designed to help you assess your preparedness and ensure you start off your M.B.A. with the fundamental knowledge and skills required for future success.
What is covered in this course?
"PreM.B.A. Microeconomics" introduces you to many of the analytical tools and methods used in microeconomics.
Learning Outcomes:
Economic Models - Learn about the law of supply and demand, as well as how to express each in equations and graphs.
- Discover the role of a firm's inputs and outputs in its production function.
- Perform calculations to find a firm's total, average, and marginal product of labor.
- Calculate and understand the difference between total, average, and marginal costs in the long and short run.
Equilibrium Analysis - See the difference between equilibrium in competitive and monopolistic markets.
- Calculate equilibrium price and quantity, marginal revenue, and marginal cost.
- Learn about profit maximization, consumer and producer surplus, and market efficiency.
Comparative Statics - Learn about the concept of elasticity and be able to solve for price elasticity of demand and supply, and total and marginal revenue.
- Discover how elasticity of demand and supply affects equilibrium price and quantity when the supply and demand curves shift.
- See the effects of simultaneous demand and supply curve shifts.
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