Learning Outcomes

Introduction to Microeconomics

The Demand Curve

The Supply Curve

The Equilibrium Price and Quantity

A Deeper Look at the Demand Curve

The Demand Curve Shifts

A Deeper Look at the Supply Curve

The Supply Curve Shifts

Exploring Equilibrium

Does the Equilibrium Model Work?

Supply and Demand Terminology

Lesson Summary

In this module, you will first explore how people respond to changes in price and discover the relationship between price and quantity supplied. Next, learn how prices reach equilibrium. Then, learn about horizontal and vertical methods for reading the demand curve, how demand curves shift, and consumer surplus. Then, explore important factors that shift the demand curve as well as the supply curve. Lastly, this module will present a case study that explores the equilibrium model.

Elasticity of Demand

Office Hours: Elasticity of Demand

Calculating the Elasticity of Demand

Elasticity of Supply

Elasticity and Slave Redemption

Applications Using Elasticity

In this module, learn about determinants of elasticity, the midpoint formula, and how to calculate the elasticity of supply. Then, explore the history of the Sudan civil war and how elasticity relates to the slave redemption. Lastly, learn about how elasticity relates to other scenarios, such as gun buyback programs in the U.S.

Commodity Taxes

Who Pays the Tax

Tax Revenue and Deadweight Loss

Subsidies

Wage Subsidies

In this module, you will first learn about taxes, tax revenue, and subsidies. Then, learn about who really pays taxes – buyers or sellers? This will be introduced in conjunction with the notion of social security and health insurance taxes.  Then, gain an understanding of why taxes exist and how taxes relate to surplus and deadweight. Lastly, learn about subsidies, such as wage subsidies and minimum wage.

Microeconomics: Supply, Demand, and Equilibrium - Final Assessment

Learn about supply, demand, and taxes and how they impact the economy with this free online microeconomics course.

Microeconomics: Supply, Demand, and Equilibrium

Well-known economists Tyler Cowen and Alex Tabarrok bring microeconomics to life in this free online course. Engaging, easy-to-follow lessons explore how the supply of goods and services drives an economy, how prices help co-ordinate market activity, and how consumers respond to changes in price. Study the relationship between price and supply, examine the elasticity of supply and demand, and gain an understanding of taxes and subsidies, today!

[2025] 150+ Online Courses to Help Your Career

Harvard CS50 Guide: How to Pick the Right Course (with Free Certificate)

12 Best Laravel Courses for 2026: Ship Sites Fast

EdX’s 2021: Year in Review

7 Best Kubernetes Courses for 2025

Learn Something New: 100 Most Popular Courses For November

Black Friday 2024: 50+ Online Learning Deals

Coursera’s New Deal with Google Could Cost the Company Millions

DeepLearning.AI to Cross $100M in Sales on Coursera

600+ Courses from Top Med Schools with Free Certificate & CME Credit

20 Most Cited Research Papers on MOOCs

Coursera and Udemy are Finally One. What’s Next?

8 Best Ecology Courses for 2025: How Species and Systems Interact

From Zero to Cybersecurity Analyst: How Google’s Certificate Can Launch Your Career

The Business of Online Education: A Deep Dive Into Udemy’s Financials

9 Best TensorFlow Courses for 2025