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Quick Facts

Medium Of InstructionsMode Of LearningMode Of Delivery
EnglishSelf StudyVideo and Text Based

Courses and Certificate Fees

Fees InformationsCertificate AvailabilityCertificate Providing Authority
INR 2397yesCoursera

The Syllabus

Videos
  • The Power of Markets: Introduction
  • 1.1.1 Opportunity Cost: Introduction
  • 1.1.2 Opportunity Cost: The Cost of Education
  • 1.1.3 Opportunity Cost: Numeric Example 1
  • 1.1.4 Opportunity Cost: Numeric Example 2
  • 1.1.5 Opportunity Cost: Numeric Example3
  • 1.1.6 Opportunity Cost: Numeric Example 4
  • 1.2.1 Scarcity: Introduction
  • 1.2.2 Production Possibilities Frontier: Definition
  • 1.2.3 Allocative Efficiency: Defining Marginal Cost and Marginal Benefit
  • 1.2.4 Allocative Efficiency: When Marginal Cost Equals Marginal Benefit
  • 1.2.5 Production Possibilities Frontier: Graphical Approach
  • 1.2.6 Production Possibilities Frontier: Numerical Example
  • 1.2.7 Production Possibilities Frontier: Understanding the Slope
  • 1.2.8 Production Possibilities Frontier: Modeling Technological Change and Growth
  • 1.2.9 Allocative Efficiency: Graphical Approach 1
  • 1.2.10 Allocative Efficiency: Graphical Approach 2
Readings
  • Additional Readings: General Suggestions
  • Participate in a Purdue Research Project (Optional)
  • Additional Readings: Week 1
Practice Exercises
  • Opportunity Cost
  • Production Possibility Frontier (PPF)
  • Production Possibilities Frontier and Growth

Videos
  • 2.1.1 Markets and Trade: Introduction
  • 2.2.1 Comparative Advantage: Numerical Example 1 - Set up
  • 2.2.2 Comparative Advantage: Numerical Example 2 - Individual PPFs
  • 2.2.3 Comparative Advantage: Numerical Example 3 - Joint PPF
  • 2.2.4 Comparative Advantage: Numerical Example 4 - Joint PPF Completed
  • 2.3.2 Comparative Advantage: Definition
  • 2.2.5 Comparative Advantage: Numerical Example 5 - Gains from Specialization
  • 2.2.6 Comparative Advantage: Numerical Example 6
  • 2.2.7 Comparative Advantage: Numerical Example 7
  • 2.3.1 Absolute Advantage: Definition
  • 2.4.1 Gaining from Specialization Through Trade
  • 2.4.2 Gaining from Specialization: The Consumption Possibilities Frontier
  • 2.4.3 Gaining from Specialization: General Graphical Approach
  • 2.4.4 Gaining from Specialization: Imports and Exports
Reading
  • Additional Readings: Week 2
Practice Exercises
  • Comparative Advantage
  • Trade

Videos
  • 3.1.1 Supply & Demand: Introduction
  • 3.1.2 The Demand Curve
  • 3.1.3 Shifts of Demand: Part 1
  • 3.1.4 Shifts of Demand: Part 2
  • 3.1.5 The Supply Curve
  • 3.1.6 Shifts of Supply: Part 1
  • 3.1.7 Shifts of Supply: Part 2
  • 3.1.8 Market Equilibrium: Definition
  • 3.1.9 Market Equilibrium: Understanding Who Buys and Who Sells
  • 3.1.10 The Invisible Hand: Part 1
  • 3.1.11 The Invisible Hand: Part 2
  • 3.1.12 Changes in Demand: Effect on Market Equilibrium
  • 3.1.13 Changes in Supply: Effect on Market Equilibrium
  • 3.1.14 Simultaneous Changes in Demand & Supply: Effect on Market Equilibrium
  • 3.1.15 Supply & Demand: Conclusion
Reading
  • Additional Readings: Week 3
Practice Exercises
  • The Demand Curve
  • The Supply Curve
  • Market Equilibrium
  • A Change in Market Equilibrium

Videos
  • 4.1.1 Elasticity: Introduction
  • 4.1.2 Elasticity of Demand
  • 4.1.3 What Affects Elasticity of Demand
  • 4.1.4 Perfectly Inelastic and Perfectly Elastic Demand
  • 4.1.5 Elasticity Along a Straight Line Demand Curve
  • 4.1.6 Elasticity and Revenue: Part 1
  • 4.1.7 Elasticity and Revenue: Part 2
  • 4.1.8 Unit Elastic Demand Curve
  • 4.1.9 Cross Price Elasticity: Complements vs. Substitutes
  • 4.1.10 Income Elasticity: Normal vs. Inferior Goods
  • 4.1.11 Elasticity of Supply
  • 4.1.12 Elasticity: Summary
  • 4.2.1 Efficiency & Equity: Introduction
  • 4.2.2 Consumer Surplus
  • 4.2.3 Producer Surplus
  • 4.2.4 Maximizing Total Surplus
  • 4.2.5 T.S. at a Quantity Greater Than Equilibrium Quantity
  • 4.2.6 T.S. at a Quantity Smaller Than Equilibrium Quantity
  • 4.2.7 Efficiency & Equity: Conclusion
  • 4.2.8 Price Ceiling
  • 4.2.9 Price Floors: The Case of Minimum Wage
  • 4.2.10 Calculating Total Surplus: Numerical Example
  • 4.2.11 Price Ceilings: A Numerical Example
Reading
  • Additional Readings: Week 4
Practice Exercises
  • Elasticity of Demand
  • Elasticity of Demand & Revenue
  • Other Elasticity Terms
  • Consumer and Producer Surplus

Videos
  • 5.1.1 Government Intervention: Introduction
  • 5.1.2 Modeling a Tax
  • 5.1.3 Modeling a Tax: Graphically Interpretation
  • 5.1.4 Consequence of a Tax on Consumer and Producer Surplus
  • 5.1.5 Consequence of a Tax on Total Surplus
  • 5.1.6 Dead Weight Loss
  • 5.1.7 Tax Incidence
  • 5.1.8 Tax in Extreme Cases of Demand Elasticity
  • 5.1.9 Tax in Extreme Cases of Elasticity of Supply
  • 5.1.10 Taxes: Summary
  • 5.1.11 Modeling a Subsidy
  • 5.1.12 Consequence of a Subsidy on Total Surplus
  • 5.1.13 Subsidy: Summary
  • 5.1.14 Taxes: Numerical Example Part 1
  • 5.1.15 Taxes: Numerical Example Part 2
  • The Power of Markets: Conclusion
Reading
  • Additional Readings: Week 5
Practice Exercises
  • Price Intervention
  • Taxes
  • Subsidies
  • Government Intervention
  • Final Exam

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