Course Description

Welcome to my course - Basics of microeconomics : Behavior of Buyers and Sellers

In this course, I will take you through the heart of Economics - Demand and Supply Mechanism (Determined by Buyers and Sellers ) and we will discuss the following topics :

What is Demand?
Do you always demand less when the price of a commodity rises.? Yes..? Think again..!
Is your Demand only a function of price?
What is supply?
What affects supply of a good in the market?
We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?
How does this price mechanism function?

This course is not only for the students of Economics but for anyone who has an interest in understanding this powerful mechanism of Demand and Supply.

This course has 19 lectures and 1 hour of content.

It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics , you may take this as your first step to understand this powerful subject.

All that said, if you would like to discuss something while you are learning, please feel free to contact me.

Lets get started..!

M.A. Economics, Delhi School of Economics ; Certified Financial Planner (CFP)

Shubham Kalra

Hi there, my name is Shubham Kalra and I am a Masters in Economics from Delhi school of Economics. I have 5 years of educational background in Economics and Statistics. I love teaching and have been teaching since my college days in one way or another. I can be your guide for Economics, Statistics, Finance, Game theory and Econometrics. Please feel free to get in touch if you need help with something.

Course curriculum

  • 1

    Introduction

    • Introduction to the course and the instructor
  • 2

    Demand

    • Market and its forms

    • Demand vs Quantity Demanded

    • Law of Demand, Demand Schedule and Demand Curve

    • Individual Demand vs Market Demand

    • Exceptions to Law of Demand

    • Movements along a Demand Curve (Change in Quantity Demanded)

    • Shifts in Demand Curve (Change in Demand)

    • Shifts in Demand Curve (Continued)
  • 3

    Supply

    • Supply vs Quantity Supplied

    • Law of Supply, Supply schedule and Supply curve

    • Exceptions to Law of Supply

    • Movements along a Supply curve (Change in Quantity Supplied)

    • Shifts in Supply Curve (Change in Supply)
  • 4

    Supply and Demand Together

    • Market Equilibrium

    • Why equilibrium price is determined when demand equals supply?

    • Three steps to analyzing changes in equilibrium

    • Effect of shift in Demand and shift in Supply on market equilibrium

    • Effect of simultaneous shift in Demand and Supply on market equilibrium