Course Description

Embark on an enlightening journey through the world of economics with this comprehensive introductory course offered by StanfordOnline. This course provides a thorough exploration of both microeconomic and macroeconomic principles, equipping you with a solid foundation in economic theory and its real-world applications.

The course begins by delving into microeconomics, focusing on the behavior of individual consumers and firms. You'll gain insights into how markets for goods and services function and the impact of various policy choices on these markets. As you progress, you'll transition into macroeconomics, examining broader economic concepts such as national production, employment, inflation, and interest rates. You'll explore models that explain long-term economic growth and short-term fluctuations in national economies, as well as the crucial roles of government regulation, monetary policy, and fiscal policy in shaping economic outcomes.

What Students Will Learn

• Fundamental principles of microeconomics and macroeconomics
• Consumer and firm behavior in market economies
• Market dynamics for goods and services
• Policy impacts on various markets
• National economic indicators and their significance
• Models explaining economic growth and fluctuations
• The roles of government regulation, monetary policy, and fiscal policy
• International trade and its effects on economies

Prerequisites

No specific prerequisites are required for this course. It is designed as an introductory-level course, making it accessible to learners with various backgrounds. However, basic mathematical skills and an interest in understanding economic concepts would be beneficial.

Course Content

Part 1: Microeconomics

• The Basic Core: Supply and Demand Model
• The Competitive Equilibrium Model
• Firms and Industries Changing Over Time
• Deviations from Competition: Monopoly and Market Power
• Labor Markets
• Key Economic Policy Issues
• Financial and Capital Markets

Part 2: Macroeconomics

• Macro Facts and Measures
• Long Run Macro: Economic Growth, Employment, and Inflation
• Short Run Macro: Economic Fluctuations
• Macro Policy Issues: Fiscal and Monetary Policy
• International Economic Issues

Who This Course Is For

• Students seeking a comprehensive introduction to economics
• Professionals looking to enhance their understanding of economic principles
• Anyone interested in gaining insights into how economies function and the factors that influence economic decision-making
• Individuals preparing for further studies in business, finance, or public policy

Real-World Applications

• Making informed personal financial decisions
• Understanding economic news and its implications
• Analyzing market trends and consumer behavior
• Evaluating government policies and their potential impacts
• Developing strategies for businesses based on economic principles
• Gaining a foundation for careers in finance, business, government, or non-profit sectors
• Enhancing critical thinking and analytical skills applicable to various fields

Syllabus

Part 1: Microeconomics

• The Basic Core
• The Competitive Equilibrium Model
• Firms and Industries Changing Over Time
• Deviations from Competition
• Labor Markets
• Key Economic Policy Issues
• Financial and Capital Markets

Part 2: Macroeconomics

• Macro Facts and Measures
• Long Run Macro
• Short Run Macro
• Macro Policy Issues
• International Economic Issues

This course offers a rich, comprehensive exploration of economic principles, providing you with the tools to understand and analyze the complex economic world around us. Whether you're a student, professional, or simply curious about economics, this course will equip you with valuable knowledge and skills applicable in various aspects of life and career.