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Provided by: 123-CBT Computer Based Training Economics Basic Concepts in Microeconomics |
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Training
Provided by 123-CBT Computer Based Training
Basic Concepts in Microeconomics builds on the general principles introduced in The Principles of Economics by introducing the learner to microeconomic concepts and issues. Such things as market behavior and decision-making, consumer choice and preference and the factors that motivate firms are covered across a range of informative lessons situated in real-life scenarios.
Learn To
Audience
This course is aimed at Managers, Directors, and Project Leaders.
Deployment Options
e-Learning
Accreditation
NASBA credits: 3 CPE Credits
CEU credits: 0.30 CEUs
Language Options
US English
Total Learning Time
2 to 4 hours
Objectives
Unit 1: Market Behavior (1 - 2 hours)
Unit 2: The Logic of Consumer Choice (1 - 2 hours)
Learn To
- Plot the effects of changes in price on a demand curve.
- Plot the effects of a change in price on a supply curve.
- Outline the main forms of Elasticity.
- Show consumption possibilities on a household budget line.
- State the relationship between the household budget line and the indifference curve.
Audience
This course is aimed at Managers, Directors, and Project Leaders.
Deployment Options
e-Learning
Accreditation
NASBA credits: 3 CPE Credits
CEU credits: 0.30 CEUs
Language Options
US English
Total Learning Time
2 to 4 hours
Objectives
Unit 1: Market Behavior (1 - 2 hours)
- Plot the effects of changes in price on a demand curve.
- Plot the effects of a change in price on a supply curve.
- Explain the effects of an increase in both demand and supply.
- Explain the effects of a decrease in demand and an increase in supply.
- Explain the effects of an increase in demand and a decrease in supply.
- Outline Elastic Demand / Supply.
- Outline Inelastic Demand/ Supply.
- Calculate Price Elasticity of Demand and plot the curve.
- Identify the effect of price change on TR.
- Simulation Overview:
- In this simulation, you will meet with Jack Sullivan, the Production Manager, and Janet Porter, the Operations Manager at Icon. They are responsible for Icon's bottled water product line. Janet has called the meeting because there has been a sudden fall in demand for one of Icon's main products. She is concerned about the fall off in revenue. You are a market analyst employed by Icon to offer advice on market behavior.
Unit 2: The Logic of Consumer Choice (1 - 2 hours)
- Account for Labor Demand in the Market.
- Account for Labor Supply in the Market.
- Explain Utility and the Law of Diminishing Marginal Utility.
- Show how a change in price affects the household budget line.
- Show how a change in income affects the household budget line.
- Plot an indifference curve.
- Explain the marginal rate of substitution.
- Show the point of maximum utility.
- Simulation Overview:
- In this simulation, you will meet with Jack Sullivan, the Production Manager, and Janet Porter, the Operations Manager for Icon. You are an experienced market analyst with Icon International. Icon is about to review the pricing of their own brand of mineral water. You feel that now is a good time for Icon to reduce the price of mineral water in order to compete wi
This is primarily online training 
This is an online eLearning or CBT training program 
This program may be available on CD 
Contact 123-CBT Computer Based Training for more information Training Presented in: English
Economics Basic Concepts in Microeconomics
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About The Training Provider: 123-CBT Computer Based Training
123-CBT Computer Based Training - 123-CBT offers discount pricing on top quality eLearning
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