Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all purchase and use. 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, analyze and evaluate market outcomes.
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Microeconomics: When Markets Fail
University of PennsylvaniaÜber diesen Kurs
16.619 kürzliche Aufrufe
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Zertifikat zur Vorlage
Erhalten Sie nach Abschluss ein Zertifikat
100 % online
Beginnen Sie sofort und lernen Sie in Ihrem eigenen Tempo.
Ca. 12 Stunden zum Abschließen
Englisch
Untertitel: Englisch, Mongolisch
Kompetenzen, die Sie erwerben
- Externality
- Economics
- Microeconomics
- Market (Economics)
Flexible Fristen
Setzen Sie Fristen gemäß Ihrem Zeitplan zurück.
Zertifikat zur Vorlage
Erhalten Sie nach Abschluss ein Zertifikat
100 % online
Beginnen Sie sofort und lernen Sie in Ihrem eigenen Tempo.
Ca. 12 Stunden zum Abschließen
Englisch
Untertitel: Englisch, Mongolisch
von
University of Pennsylvania
The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies.
Lehrplan - Was Sie in diesem Kurs lernen werden
3 Stunden zum Abschließen
Costs and Profits + Perfect Competition
In the first part of the course we learnt that if we allow market forces to work we reach an efficient outcome: the maximum benefit that can be generated by a market. The second part of the course explores cases where the markets fail to accomplish our goals. This week sets up the benchmark case of the perfectly competitive market: a model we will modify in the next few weeks. We define Perfect Competition, learn to model it graphically and discuss some key results in terms of long run profits and implications for efficiency.
3 Stunden zum Abschließen
20 Videos (Gesamt 45 min), 1 Lektüre, 3 Quiz
2 Stunden zum Abschließen
Monopoly
A monopoly is a case where there is only one firm in the market. We will define and model this case and explain why market power is good for the firm, bad for consumers. We will also show that society as a whole suffers from the lack of competition.
2 Stunden zum Abschließen
13 Videos (Gesamt 39 min)
2 Stunden zum Abschließen
Monopoly Continued
Monopolies come in various types: one price monopoly, natural monopoly, price discrimination and monopolistic competition. This week we will expand the basic monopoly model to cover these cases and then explore market outcomes in each case. We will also discuss how government may intervene in such cases to benefit society as a whole and increase the surplus generated by the market.
2 Stunden zum Abschließen
14 Videos (Gesamt 39 min)
3 Stunden zum Abschließen
Externalities + Public Goods
Two classic cases of market failure will be defined and explored: externalities and public goods. We will define each case, demonstrate why the market fails to provide the efficient outcome and suggest interventions through either marked design or regulation.
3 Stunden zum Abschließen
20 Videos (Gesamt 52 min)
Bewertungen
- 5 stars80,72 %
- 4 stars15,45 %
- 3 stars3,45 %
- 2 stars0,18 %
- 1 star0,18 %
Top-Bewertungen von MICROECONOMICS: WHEN MARKETS FAIL
von LE20. Okt. 2016
Another fine course from Professor Stein. I particularly appreciated the final set of lectures, but all were well presented, understandable, and relevant.
von BD24. Jan. 2022
Excellent course by Prof. Stein. One of the best, I have seen. Thanks for such a brilliant course.
von SM9. März 2021
Rebecca is knowledgeable and explains very clearly. Great teacher and great course. I’d love another course and more numerical exercises if possible. Great course, thanks!!
von PD1. Jan. 2019
Very helpful and informative class.... liked the challenge of getting my microeconomics view back in order...
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