- Do you want to know how individuals make decisions within a large economic system?
- Have you ever wondered how consumers and producers maximize their profits simultaneously?
- Or you just want to know the difference between a perfectly competitive market and monopolistic competition?

All of the above stated questions are related to microeconomics, and if you want to know answers to these questions, study fundamental principles of microeconomics. Almost every college and university offers a degree in economics, but they not only charge you heavy fees but also make it mandatory or the students to attend a specific number of in-class lectures.

For your ease, Dr. José J. Vázquez-Cognet of University of Illinois has offered a totally free online course titled Microeconomics Principles. This introductory course will help you understand the functions of individual decision makers – consumers and producers – and how do their decisions affect the entire economy.

This course focuses on:

- The theory of firms under varying conditions of Perfect competition and Monopolistic competition
- The nature and functions of product markets, and
- The role of government in promoting efficiency in the economy

Three versions of the course have been offered simultaneously so that you can choose a version that best suits you. The first version is 4 weeks long, second version spans 8 weeks, while the third version is 16 weeks long. The course material for the second and third version is same, whereas the first version is not only shorter but also covers less material.

The only requirement for this course is to have knowledge of elementary algebra. The course consists of 8-15 minutes long video lectures, textbooks and other readings, integrated weekly quizzes and an assignment (optional). At the end of the course you will receive a signed statement of accomplishment.

Author Bio

Dr. José J. Vázquez-Cognet is a Clinical Professor in the Department of Economics at the University of Illinois. During his tenure at Illinois, Professor José has won several teaching awards, including Outstanding Teacher of Freshmen Award, which he received twice.