Practical Economics: A Hands-On Approach To Market Dynamics

Unlock the secrets of economics, from foundational principles to advanced market structures, in this hands-on course.

What you’ll learn
Core Principles of Economics Understand the fundamentals of supply and demand, consumer surplus, and market equilibrium.
Lean Economics and Productivity Grasp the concept of Lean and its application in economic activities to maximize value and productivity.
Market Structures and Competition Explore different market structures, including monopolistic competition, oligopoly, monopoly, and perfect competition.
Profit Maximization and Cost Analysis Master strategies for profit maximization in both short-run and long-run scenarios.
Macroeconomic Indicators and Policies Dive into macroeconomic indicators such as GDP, national income, and inflation measures.
Role of Money and Central Banking Explore the functions and qualities of money, along with key monetary theories.
Fiscal Policy and Global Trade Analyze the tools and objectives of fiscal policy, including the fiscal multiplier effect.
Practical Application and Critical Thinking Apply economic theories to real-world business scenarios and decision-making processes.

Requirements
Basic Understanding of Mathematics A foundational grasp of basic algebra and arithmetic is helpful, especially for understanding economic models, graphs, and equations.
Interest in Economics and Finance While prior knowledge of economics is not required, a keen interest in understanding how markets work, what drives economic policies, and the impact of global trade will enhance your learning experience.

Description
This course offers an in-depth exploration of economics, covering everything from the basics of demand and supply to complex market structures, profit maximization strategies, and fiscal and monetary policies. Designed for both beginners and seasoned professionals, this course will equip you with the skills needed to analyze market dynamics, understand economic policies, and make informed decisions in both personal and professional contexts.Section 1: Introduction to EconomicsStart your journey with a solid understanding of economics fundamentals. This section introduces you to key concepts such as aggregated demand and supply curves, consumer surplus, and the impact of taxes on buyers. You’ll explore the balance of supply, obstacles to efficiency, and the concept of deadweight loss, setting the stage for more advanced topics in economics.Section 2: Lean Economics and ProductivityDelve into the principles of Lean and its impact on economic activities. Understand value addition, types of economic activities, and how productivity can be enhanced by eliminating inefficiencies. This section includes real-world examples to demonstrate the practical application of Lean concepts in various economic scenarios.Section 3: Break-even Analysis and Economies of ScaleDiscover the critical factors involved in breaking even and the implications of shutdown decisions. You’ll learn about economies of scale and how businesses can leverage them to reduce costs and increase profitability, providing you with valuable insights into operational decision-making.Section 4: Market Structures and CompetitionExplore different market structures, including monopolistic competition, oligopoly, monopoly, and perfectly competitive markets. Understand the dynamics of natural monopoly markets, barriers to entry, product innovation, and the importance of brand differentiation. This section helps you identify the characteristics of each market type and their implications for pricing and competition.Section 5: Profit Maximization StrategiesLearn how firms approach profit maximization under various conditions, from short-run to long-run scenarios. Analyze profit maximization tables, the total, marginal, and average product of labor, and strategies employed by firms in imperfect competition. This section is crucial for those looking to understand how businesses optimize their operations for maximum profitability.Section 6: Sources and Measurement of Economic GrowthGain insights into the sources of economic growth, the business cycle, and the factors that influence productivity. Understand the production function approach, the impact of inventory levels, and the role of inflation. This section also covers key economic indicators used to assess the health of an economy.Section 7: Quality and Functions of MoneyExamine the functions and quality of money, the theories behind it, and its role in the economy. Understand how money influences economic transactions and the factors that determine its value over time.Section 8: Central Bank and Monetary PolicyThis section covers the central bank’s role in managing interest rates, implementing monetary policy, and conducting open market operations. You’ll learn about the limitations of monetary policy and how it interacts with fiscal measures to influence economic outcomes.Section 9: Fiscal Policy and TradeExplore the tools and objectives of fiscal policy, including the fiscal multiplier, budget deficits, and the interaction between monetary and fiscal policies. The section concludes with an analysis of international trade models, trading blocs, and balance of payment considerations, providing a global perspective on economics.Conclusion:By the end of this course, you will have a comprehensive understanding of both micro and macroeconomic principles, enabling you to analyze real-world economic scenarios with confidence. Whether you’re looking to enhance your professional skills or simply broaden your economic knowledge, this course offers the tools and insights you need to succeed. Get ready to navigate the complexities of economic theory and practice with a solid foundation and practical applications.

Overview
Section 1: Economics Introduction

Lecture 1 Introduction to Economics

Lecture 2 Aggregating Demand Supply Curves

Lecture 3 Consumer Surplus

Lecture 4 Analyze the Coruses of a Demand

Lecture 5 Obstacles to Efficiency and Dead Weight Loss

Lecture 6 Supply Imbalance

Lecture 7 Tax on Buyers

Lecture 8 Tax on Buyers Continue

Lecture 9 Subsides and Quotas

Lecture 10 Income Elasticity of Demand

Lecture 11 Consumer Demand

Lecture 12 Describe the use of Indifference

Lecture 13 The Firm

Lecture 14 Economic Rent

Lecture 15 Important Relationship

Section 2: Break-even

Lecture 16 Break Even and Shutdown

Lecture 17 Break Even and Shutdown Continue

Lecture 18 Economies of Scale

Section 3: Profit Maximizing

Lecture 19 Approaches to Profit Maximizing

Lecture 20 Profit Maximization Table

Lecture 21 Profit Maximization Under Imperfect Competition

Lecture 22 Short Run and Long Run Profit Maximization

Lecture 23 L-S

Lecture 24 Total, Marginal and Average Product of Labor

Lecture 25 Example

Lecture 26 Short Run Table

Section 4: Market Structure

Lecture 27 Firm Market Structure

Lecture 28 Monopolistic Competition

Lecture 29 Oligopoly

Lecture 30 Monopoly

Lecture 31 Natural Monopoly Market

Lecture 32 Relationship Between Price

Lecture 33 Economic Loss

Lecture 34 Perfectly Competitive Market

Lecture 35 Changes in Demand

Lecture 36 Monopolistic in Detail

Lecture 37 Low Barrier

Lecture 38 Monopolistic and Perfect Compare

Lecture 39 Product Innovation

Lecture 40 Brand Name

Lecture 41 Natural Monopoly

Lecture 42 Supply Function

Lecture 43 Uses and Limitations

Lecture 44 Identify the Structure

Lecture 45 Table

Lecture 46 Aggregate Output

Lecture 47 GDP Cal

Lecture 48 Products Included

Lecture 49 Two Approaches

Lecture 50 SUM of Value

Lecture 51 Compare Nominal GDF

Lecture 52 GDP Deflator

Lecture 53 Compare GDP and National Income

Lecture 54 Personal Income

Lecture 55 Personal Disposable Income

Lecture 56 Compare Saving and Investments

Lecture 57 IS and LM Curve Part 1

Lecture 58 IS and LM Curve Part 2

Lecture 59 IS and LM Curve Part 3

Lecture 60 Money Supply

Lecture 61 Aggregate Demand Curve

Lecture 62 Expansionary Monetary Policy

Lecture 63 Shift in Long Run Supply Curve

Lecture 64 Recession and Inflation Introduction

Lecture 65 Implication for Analysis

Section 5: Sources and Measurement of Economic Growth

Lecture 66 Sources and Measurement of Economic Growth

Lecture 67 Describe the Production Function Approach

Lecture 68 Understanding Business Cycle

Lecture 69 Describe what Happens Inventory Levels

Lecture 70 Inflation

Lecture 71 Construction of Indices

Lecture 72 Compare Inflation Measures

Lecture 73 Describe the Factors

Lecture 74 Describe the Economic Indicators

Lecture 75 Monetary and Fiscal Policy

Section 6: Quality and Function of Money

Lecture 76 Quality and Function of Money Part 1

Lecture 77 Quality and Function of Money Part 2

Lecture 78 Quality and Function of Money Part 3

Lecture 79 Theories of Money

Section 7: Central Bank

Lecture 80 Central Bank Interest Rate

Lecture 81 Roles and Objectives of Central Bank

Lecture 82 Role and Objectives of Central Bank

Lecture 83 Implementation of Monetary Policy

Lecture 84 Open Market Operations

Lecture 85 Relationship Between Monetary Policy

Lecture 86 Determine Whether a Monetary Policy

Lecture 87 Limitation

Section 8: Fiscal Policy

Lecture 88 Roles and Objectives of Fiscal Policy

Lecture 89 Tools of Fiscal Policy

Lecture 90 Fiscal Multiplier

Lecture 91 Arguments for and Against Size of Fiscal Deficit

Lecture 92 Implementation of Fiscal Policy

Lecture 93 Interaction of Monetary and Fiscal Policy

Lecture 94 Ricardian and Heckscher Model

Lecture 95 Compare Types of Trade

Lecture 96 Economic Implication

Lecture 97 Trading Blocs

Lecture 98 Balance of Payment

Lecture 99 Decision that Influence BOP

Students and Academic Learners: Ideal for college and university students pursuing degrees in economics, business, finance, or related fields. It serves as a solid foundation for understanding both microeconomic and macroeconomic principles.,Professionals and Business Leaders: Perfect for professionals in fields such as finance, banking, consulting, or management who want to strengthen their understanding of economic concepts to make more informed business decisions.,Aspiring Economists and Policy Makers: If you’re aiming for a career in economics, public policy, or government, this course provides valuable insights into fiscal and monetary policies, market structures, and economic growth strategies.,Entrepreneurs and Small Business Owners: Designed for those looking to understand how economic forces affect their business, helping you navigate market trends, optimize resources, and make strategic decisions.,General Learners and Enthusiasts: Great for anyone interested in gaining a deeper understanding of how economies function, the impact of government policies, and the dynamics of global trade. No prior knowledge of economics is required, making it accessible to curious minds from all backgrounds.

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