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Microeconomics in Policy
Explore how governments and ethical standards address microeconomicsPreview the first lesson free — get full access to all 5 lessons.
Beginner Provider : KnowledgeCity 5 Lessons · 11m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
The economy has a lot of moving parts, and the deeper we look, the less economic results are what they seem. In this course on Microeconomics in Policy, you’ll learn about microeconomic relationships between businesses and governing bodies and how the government balances obvious public benefits with conceptual economic losses.
Even in a free market, nothing is free. Even what’s free for the public to use has to be funded from somewhere. The cost of actually sustaining a free market over a long term is carefully-placed regulation and the right balance of taxation.
Economic theory states that our society succeeds when critical masses of individuals succeed. One level of this involves producers making quality products, or else consumers won’t choose to do business. That means competition and market dynamics can self-regulate in terms of running the market itself. But the government has its role in making sure its citizens can provide for themselves.
What You'll Learn
- Understand government taxation decisions and how the right balance of taxation sustains a free market
- Understand economic policy and the microeconomic relationships between businesses and governing bodies
- Explore how governments can prevent waste and balance public benefits against conceptual economic losses
- Examine the government's role in market failure and redistribution
- Analyze microeconomics in the context of ethics and crises
Key Takeaways
- Economic results are often not what they seem once you look deeper at the economy's many moving parts.
- Even in a free market nothing is truly free, and what is free for the public to use must be funded from somewhere.
- Sustaining a free market over the long term requires carefully-placed regulation and the right balance of taxation.
- Economic theory holds that society succeeds when critical masses of individuals succeed, including producers making quality products consumers choose to buy.
- Competition and market dynamics can self-regulate the running of the market, while the government works to ensure citizens can provide for themselves.
Frequently Asked Questions
What does this course cover?
Microeconomics in Policy covers the microeconomic relationships between businesses and governing bodies, how government balances public benefits with conceptual economic losses, and how regulation and taxation sustain a free market. Lessons include Microeconomics and the Government, Market Failure and Redistribution, and Microeconomics in Ethics and Crises.
What will I learn by the end of the course?
You will understand government taxation decisions, understand economic policy, and explore how governments can prevent waste.
How is the course structured?
The course is organized into lessons: an Introduction, Microeconomics and the Government, Market Failure and Redistribution, Microeconomics in Ethics and Crises, and a Test Your Knowledge section.
What view of the economy does the course take?
The course emphasizes that the economy has many moving parts and that the deeper you look, the less economic results are what they seem, noting that even in a free market nothing is free.
