Online Essential Courses Microeconomics Essentials
Students who are currently enrolled in the Kellogg School have expressed the need for review of key concepts in microeconomics prior to the start of classes. To meet that need, the Kellogg School now offers a Web-based course in microeconomics, designed by Professor David Besanko, free to all incoming students.
This online course is intended to provide an introduction to microeconomics for students who have never taken microeconomics in their previous education. It will help these students understand basic microeconomic terms and concepts as they are used in their first quarter core courses before they take MECN 430, Microeconomic Analysis, in their second quarter. This course should also be useful as a quick review for students who have taken a microeconomics course previously but who feel their knowledge is rusty. Students, however, who are planning to take the waiver examination for MECN 430 should recognize that this course only discusses the most essential topics and very likely is an insufficient preparation for the waiver exam.
Microeconomics is the branch of economics that studies how prices are determined in markets and how the structure of markets affects competition and the level of prices. Online Microeconomic Essentials serves as an introduction for students who have little or no prior training in economics, and it gives them the opportunity to become familiar with key microeconomics terminology and concepts. Using as a backdrop the strategic challenges faced by Pepsi in its competition with Coke in the market for soft drinks, the course covers five key topics in microeconomics: (1) demand and revenue; (2) cost; (3) price and output determination; (4) perfect competition; and (5) game theory. The course uses a combination of tutorial, animation, exercises, and real-world examples to introduce microeconomic concepts in a way that prepares students for the Kellogg School's core courses in both microeconomics and strategy.
Incoming students can work through Online Microeconomics Essentials at their own pace and convenience. In addition, students can easily go back to Online Microeconomics Essentials throughout their enrollment at the Kellogg School. Estimated time to complete the primary instructional path is 3 to 5 hours.
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We encourage all incoming students to utilize Kellogg Microeconomics Essentials Online to build or refresh skills in preparation for the Kellogg School's core courses.
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