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University of Pennsylvania

Microeconomics: The Power of Markets

University of Pennsylvania via Coursera


We make economics decisions every day: what to buy, whether to work or play, what to study. We respond to markets all the time: prices influence our decisions, markets signal where to put effort, they direct firms to produce certain goods over others. Economics is all around us.

This course is an introduction to the microeconomic theory of markets: why we have them, how they work, what they accomplish. We will start with the concept of scarcity and how specialization according to comparative advantage helps us achieve more than we could alone. Next we model a marked using the tools of Supply and Demand and learn what well working markets accomplish and what their limit are. We end by exploring the impact of government intervention on perfect markets. Examples are taken from everyday life, from goods and services that we all purchase and use. We will apply the theory to current events and policy debates through weekly exercises. These will empower you to be an educated, critical thinker who can understand, analyze and evaluate market outcomes.

Taught by

Rebecca Stein


3.7 rating, based on 6 Class Central reviews

Start your review of Microeconomics: The Power of Markets

  • Profile image for Sivananda Ramnath
    Sivananda Ramnath

    Sivananda Ramnath completed this course, spending 2 hours a week on it and found the course difficulty to be medium.

    This is a the first part of a introductory microeconomics course. The professor starts from first principles and derives her way through remaining concepts in a simple, yet elegant fashion. It takes a little while to appreciate the methodology, and the first few lectures seem a bit boring, but it is well worth sticking through. Some of the quiz questions were really good, I wish there had been more of these. Fewer but longer videos would have been easier.

    Breadth - 3/5
    Depth - 3/5
    Quiz - 3/5
    Overall Satisfaction - 4/5

    Will I take part 2? Probably.
  • Raeeskhan

    Raeeskhan is taking this course right now, spending 3 hours a week on it and found the course difficulty to be medium.

    Willing to get master degree in economics but can not carry on because of financial problems. So i though that something is better than nothing and decided to attend this course which increase my knowledge of economics.when i found opportunity i will continuous my study by availing that.
    Well wisher
    Raees khan
  • Jeffrey 'Teach' Dean

    Jeffrey 'Teach' Dean completed this course, spending 1 hours a week on it and found the course difficulty to be hard.

    The professor spoke too softly.
    This course was somewhat confusing.
    This is my first year teaching HS Econ for a full semester.
  • Gaurav Goyal completed this course.

  • Martin Dunn completed this course.

  • Profile image for Michael Ye
    Michael Ye

    Michael Ye completed this course.

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