Microeconomics

Description

Microeconomics focuses on the individual actions of sellers (producers) and buyers (consumers) and how those actions have consequences for the availability, distribution, and utilization of scarce resources.

An understanding of microeconomics explains decisions at the organizational level – businesses, companies, and nonprofit entities.

Leveraging the foundational principles of microeconomics is essential for designing strategy, particularly in the sales and marketing functions.

This module examines the areas of consumer choice, supply and demand, market elasticity, and production and costs.

Module Length: 5 Learner Hours | Access time: 2 years