Course Overview
Course Description
This intensive 5-day course provides a comprehensive introduction to the fundamentals of microeconomics. Participants will explore key concepts, market dynamics, and decision-making processes that drive individual and firm behavior in the economy. Through a blend of theoretical principles and practical applications, students will develop a solid foundation in microeconomic analysis.
Learning Objectives
- Understand core microeconomic principles and their real-world applications
- Analyze supply and demand dynamics and market equilibrium
- Evaluate consumer and producer behavior in various market structures
- Apply cost-benefit analysis and marginal thinking to economic decision-making
- Assess the impact of government interventions on market outcomes
Course Modules
Day 1: Introduction to Microeconomics
- Scarcity and economic systems
- Opportunity cost and production possibilities frontier
- Comparative advantage and gains from trade
- Economic models and circular flow diagram
Day 2: Supply and Demand Analysis
- Demand curve and determinants of demand
- Supply curve and determinants of supply
- Market equilibrium and price determination
- Elasticity concepts and applications
Day 3: Consumer and Producer Theory
- Utility maximization and consumer choice
- Production functions and costs of production
- Profit maximization and firm behavior
- Short-run vs. long-run decisions
Day 4: Market Structures
- Perfect competition and efficiency
- Monopoly and price discrimination
- Oligopoly and game theory
- Monopolistic competition
Day 5: Market Failures and Government Intervention
- Externalities and public goods
- Information asymmetry and market inefficiencies
- Government policies and their economic impacts
- International trade and protectionism
Practical Wins for Participants
- Ability to analyze real-world economic situations using microeconomic tools
- Enhanced decision-making skills for personal and professional contexts
- Improved understanding of market dynamics and business strategies
- Capacity to evaluate the economic impact of government policies
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