Practical Economics A Hands–On Approach To Market Dynamics

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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