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Microeconomics topics

1Introduction to Economics

1.1Definition of economics
1.2Goods and services, and factors of production
1.3Economic way of thinking
1.4Positive and normative statements

2Problems of Economics

2.1Production possibilities and opportunity costs
2.2Resource efficiency
2.3Economic growth
2.4Comparative advantage
2.5Firms, markets, and price

3Demand and Supply

3.1Demand & goods
3.2Supply
3.3Market equilibrium
3.4Changes in price & quantity

4Elasticity

4.1Price elasticity of demand
4.2Cross & income elasticity of demand
4.3Elasticity of supply

5Welfare Economics

5.1Consumer & producer surplus
5.2Deadweight loss
5.3Price floor and price ceilings
5.4Taxes
5.5Production quota & subsidies

6Consumer Choice

6.1Budget line & utility
6.2Utility maximizing
6.3Budget equation
6.4Preferences & indifference curves
6.5Optimal choice on budget line

7Output and Costs

7.1Short run product curve
7.2Short run cost
7.3Long run cost

8Perfect Competition

8.1Perfect competition definitions
8.2Perfect competition firm’s output decisions
8.3Perfect competition in the short run
8.4Perfect competition in the long run

9Monopoly

9.1Monopoly definitions
9.2Monopoly single-price: Marginal revenue & elasticity
9.3Monopoly single-price: Price & output decisions
9.4Price discrimination

10Oligopoly

10.1Oligopoly definitions
10.2Oligopoly games & strategies: Prisoner’s dilemma

11Government & Inequalities

11.1Externalities
11.2Government actions in externalities
11.3Public goods
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