Learn about the realm of public goods and game theory. You will investigate and analyse how competitive markets, price discrimination and many more microeconimic concepts contribute to particular outcomes in the real world. In this course, we begin your strategic thinking journey by exploring imperfect competition, price discrimination, oligopoly, and game theory. You will be provided with practical examples the whole way through the course to enhance your real-world application of your new knowledge.
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The course also explores the concept of Public Goods, specifically those goods and services that have characteristics of being both non-rivalrous and non-excludable. You will learn how competitive markets can produce inefficient outcomes in the presence of externalities.
The categories of public goods, private goods, collective goods and common goods are also explored through the use of real world examples, promoting a great practical understanding of the topic area.
The course also investigates asymmetric information and how firms deal with the problems associated with imperfect information. There are many practical examples for you to watch and work through to ensure you develop a thorough understanding and are able to apply your knowledge once you complete the course.
This MOOC is part of the Professional Certificate in Microeconomics. We recommend that you explore the other two courses of the program, Principles of Microeconomics and Competitive and Imperfectly Competitive Markets. The program is based on a core microeconomics course taught on campus at The University of Queensland. Don't wait to enroll and begin learning from industry experts now!
If you are interested in pursuing economics further, UQx provides an accompanying Professional Certificate in Macroeconomics program running in parallel to this course. Building on your knowledge of microeconomics with this additional program will provide you with a strong foundation of economics.
Overall, this course is for everyone, whether you are studying at university, a career professional interested in expanding your economic knowledge, or simply curious about global economic behaviour and what influences it.
What you'll learn
The topics that are covered within this course include:
- how and why price discrimination is used
- different price discriminations and peak load pricing
- game theory
- Asymmetric Information and how to collect the perfect amount of economic information
- Principal-Agent and Adverse Selection Problems
- Moral Hazard Problem and the Costly to Fake Principle
