Microeconomics - 1: Finding Demand

Theory of Demand through plots and figures

4.25 (107 reviews)
Udemy
platform
English
language
Social Science
category
instructor
Microeconomics - 1: Finding Demand
8,323
students
1 hour
content
Jun 2016
last update
FREE
regular price

What you will learn

choose the right approach to understand and model individual behavior.

Description

In this course, you will learn about modelling consumer behavior. You will learn how to create a simple model of consumer who wishes to choose the best affordable consumption plan. This course introduces a unique graphical approach for solving the optimization problems. The methods that you will learn in this course are useful for developing an understanding of how to create simple models in Economics.

Course is drawn from the lectures on problem solving approach that I have been teaching to undergraduate Economics students in Delhi for the past 10 years. This course is meant for students who are interested in learning key ideas in Microeconomics through a problem solving approach. No prior knowledge of Microeconomics is needed, but the student must possess liking for Mathematics and have an interest in problem solving. It is recommended that the student should have good exposure to calculus (as is typically covered in high school). Student must be comfortable with algebraic and functional notation for variables, sets, and functions.

Course consists of mostly videos and small quizzes to test your understanding of the content taught in videos.

Topics: Demand Function, Hicksian Demand, Substitution Effect, Income Effect.

Enjoy learning.

Content

Introduction

Introduction
Budget Line
Budget Line - Exercise
Indifference Curves
Marginal Rate of Substitution
Indifference curve - Exercise

Utility Maximization

Perfect Substitutes (Demand)
Perfect Substitutes (Demand) - Exercise
Perfect Complements (Demand)
Perfect Complements (Demand) - Exercise
Cobb Douglas (Demand)
Cobb Douglas (Demand) - Exercise
Hybrid of Substitutes and Complements
Hybrid of Substitutes and Complements (Demand) - Exercise
More is Better
More is Better - Exercise
Cobb Douglas (Demand Function)
Hybrid (Demand Function)

Expenditure Minimization

Introduction to Hicksian Demand
Examples - Hicksian Demand
Hicksian Demand - Exercise
Cobb Douglas (Hicksian Demand function)
Perfect Substitutes (Hicksian Demand function)

Substitution Effect & Income Effect

Introduction to Substitution and Income effect
Hicksian Approach
Slutsky Approach

Reviews

Esther
February 22, 2022
I'm finding it easy to understand and follow through on each course content that I already covered. the formulas and examples are also very helpful
Dr.
May 11, 2020
Absolutely this course was very useful for me. This course also made a lot of concepts clear to me. Thanks
Faijan
September 15, 2018
Definitely, so far I watch this video, it gives me an intensive idea regarding consumer choice and how they react as well as, I revive my past knowledge and add something new flavor as part of my learning.
Richard
April 17, 2018
Explanations of economic equations were brief, trying to cover a lot of material. Instructor trying to incorporate complex microeconomic issues in short videos.

Charts

Price

Microeconomics - 1: Finding Demand - Price chart

Rating

Microeconomics - 1: Finding Demand - Ratings chart

Enrollment distribution

Microeconomics - 1: Finding Demand - Distribution chart

Related Topics

808872
udemy ID
3/31/2016
course created date
8/31/2019
course indexed date
Michael Wylie
course submited by