Microeconomic Theory and Public Policy
MIT's course applies microeconomic theory to real policy questions, building from the standard model of consumer behavior through single and multi-market analysis and the causes of market failure. Empirical case studies test the theory against data, covering minimum wage effects on employment, food stamps and consumer welfare, risk and safety regulation, the economic value of education, and the gains from international trade. The course is part of the MicroMasters Program in Data, Economics, and Design of Policy offered through MITx Online, and is free to audit in full. Learners who want a certificate can pay a fee, adjusted to ability to pay, to sit a proctored exam. Materials include video lectures and problem sets structured around each policy topic, taught at the level of an MIT undergraduate economics course.