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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 specialisation according to comparative advantage helps us achieve more than we could alone. Next we model a market using the tools of Supply and Demand and learn what well working markets accomplish and what their limits are. We end by exploring the impact of government intervention on perfect markets. 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, analyse and evaluate market outcomes. WHAT YOU WILL LEARN *Economics *Microeconomics *Economic Analysis *Market (Economics) INSTRUCTOR *Rebecca Stein Senior Lecturer Economics OFFERED BY *University of Pennsylvania The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. SHAREABLE CERTIFICATE Earn a Certificate upon completion. 100% ONLINE COURSE Start instantly and learn at your own schedule. FLEXIBLE SCHEDULE Set and maintain flexible deadlines. COURSE LEVEL Beginner LANGUAGE English