Microeconomics | Frenly Academy

Microeconomics is the study of how individuals, households, and firms make decisions about how to allocate resources. It examines the interactions between these entities and the impact of their choices on the prices of goods and services. In this course, we will explore the fundamental principles of microeconomics, including supply and demand, opportunity cost, and the behavior of firms in different market structures. Try this: think about a recent purchase you made and how the price of the item influenced your decision. We will also delve into more advanced topics, such as game theory and the economics of information. By the end of this course, you will be able to analyze the economic decisions of individuals and firms and understand the implications of these decisions for the broader economy. For example, you will learn how to calculate the consumer surplus and producer surplus in a market, and how to identify the equilibrium price and quantity of a good or service.