What you'll learn:
- choose the right approach to understand and model individual behavior.
In this course, you will learn about modelling consumer behavior. You will learn how to create asimple model ofconsumer who wishes to choose the best affordable consumption plan. This course introduces a uniquegraphical approach for solving the optimization problems. The methods that you will learn in this course areuseful for developing an understanding of how to create simple models in Economics.
Course is drawn from the lectures on problem solving approach that I have been teaching to undergraduate Economicsstudents in Delhifor the past 10 years. This course is meant for students who are interested in learning key ideas in Microeconomics through aproblem solving approach. No prior knowledge of Microeconomics is needed, but the student must possess liking for Mathematics and have an interest in problem solving. It is recommended that thestudent should have good exposure to calculus (as is typically covered in high school). Student mustbe comfortable with algebraic and functional notation for variables, sets, and functions.
Course consists of mostly videos and small quizzes to test your understanding of the content taught in videos.
Topics: Demand Function, Hicksian Demand, Substitution Effect, Income Effect.
Enjoy learning.
