- Course Type CLEP
- Subject History and Social Sciences
- Level Introductory
- Length 4 weeks
- Effort 6 hours/week
- Institution Modern States
ABOUT THIS COURSE
This course covers material that is usually taught in an introductory one-semester college course on microeconomics. Our goal is to prepare you to pass the CLEP examination and obtain college credit for free.
Questions on this exam will require you to apply analytical techniques to hypothetical as well as real-world situations and to analyze and evaluate economic decisions. You are expected to demonstrate an understanding of how free markets work and allocate resources efficiently.
“Principles of Microeconomics” is a completely self-paced course. It has no prerequisites and it is offered entirely for free.
CLEP Exam
This course is designed to prepare you for the CLEP Principles of Microeconomics exam and cover other related topics as well.
Instructors
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Helena Keefe, Ph.D.Helena Glebocki Keefe is Assistant Professor of Practice in the Economics Department at Fairfield University. She joined the department after completing her PhD at Fordham University, where she also taught Principles of Macroeconomics and Principles of Microeconomics for five years. She is passionate about teaching economics, and working with students that are new to economics.
Her area of expertise is in international economics, and she conducts research on emerging market economies, remittances, exchange rate markets, and central bank currency market intervention. She is also affiliated with the Center for International Policy Studies at Fordham University, working on research that facilitates international development from a multi-disciplinary perspective.
Course Overview
Principles of Microeconomics Course Overview - Modern States
| Module | Topic | Video Length | Total pages of required reading |
| Module 1: Basic Economic Concepts (8%–12%) 01:22:57 total video length 55 total reading pages |
1.1 Scarcity, Choice and Opportunity Costs | 0:04:03 | 6 |
| 1.2 Production Possibilities Curve | 0:09:13 | 6 | |
| 1.3 Comparative Advantage, Specialization, and Exchange | 0:11:08 | 7 | |
| 1.4 Demand, Supply, and Market Equilibrium | – | – | |
| 1.4a Supply and Demand Model | 0:28:38 | 36 | |
| 1.4b Supply, Demand and Market Equilibrium | 0:29:55 | – | |
| Module 2: Measurement of Economic Performance (12%–16%) 00:50:45 total video length 80 total reading pages |
2.1 Measuring a Nation’s Income, GDP and Other Measures | 0:20:48 | 27 |
| 2.2 Measuring the Cost of Living, Inflation, CPI, and Prices | 0:17:13 | 27 | |
| 2.3 Unemployment | 0:12:44 | 26 | |
| Module 3: National Income and Price Determination (15%–20%) 00:27:51 total video length 38 total reading pages |
3.1 Aggregate Demand | 0:08:45 | 20 |
| 3.2 Aggregate Supply | 0:08:18 | 9 | |
| 3.3 Macroeconomic Equilibrium | 0:10:48 | 6 | |
| Module 4: Financial Sector (15%–20%) 01:33:59 total video length 46 total reading pages |
4.1 Savings, Investments, and Financial Markets | – | – |
| 4.1a Savings, Investments, and Financial Markets | 0:11:03 | 46 | |
| 4.1b Money and the Federal Reserve | 0:11:09 | – | |
| 4.1c Time Value of Money (Present and Future Value) | 0:05:07 | – | |
| 4.1d Banks, Money Supply and Money Creation | 0:17:54 | – | |
| 4.1e Money Market and Equilibrium | 0:15:30 | – | |
| 4.1f Financial Tools: Bonds, Stocks and Other | 0:07:46 | – | |
| 4.2 Central Bank and Control of the Money Supply | – | – | |
| 4.2a Theory of Liquidity and the Quantity Theory of Money | 0:07:14 | – | |
| 4.2b Real and Nominal Interest Rates | 0:05:01 | – | |
| 4.2c Quantity Theory of Money | 0:13:15 | – | |
| Module 5: Inflation, Unemployment, and Stabilization Policies (20%–25%) 01:13:37 total video length 88 total reading pages |
5.1 Macroeconomic Equilibrium and Fiscal Policy | 0:12:18 | 51 |
| 5.1a Fiscal Policy | 0:08:05 | – | |
| 5.1b Demand-Side Effects | 0:06:18 | – | |
| 5.1c Government Policy Responses to Short Run Economic Shocks | 0:22:28 | – | |
|
5.1d Government Policy Responses to Short Run Economic Shocks – Practice
|
0:18:12 | – | |
| 5.2 Inflation and Unemployment | 0:06:16 | 37 | |
| Module 6: Economic Growth and Productivity (5%–10%) 00:04:57 total video length 24 total reading pages |
6.1 Understanding Productivity and Economic Growth | 0:04:57 | 24 |
| Module 7: Open Economy: International Trade and Finance (9%–13%) 00:26:58 total video length 78 total reading pages |
7.1 Balance of Payments Accounts | 0:03:44 | 24 |
| 7.2a Capital Flows, Trade and Global Markets | 0:06:25 | 27 | |
| 7.2b Exchange Rates and Net Exports | 0:12:32 | – | |
| 7.3 Foreign Exchange Markets and Exchange Rates | 0:04:17 | 27 |
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Student Stories
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