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Microeconomics Topics

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1. Introduction to Economics

1.1

Definition of economics

1.2

Goods and services, and factors of production

1.3

Economic way of thinking

1.4

Positive and normative statements

2. Problems of Economics

2.1

Production possibilities and opportunity costs

2.2

Resource efficiency

2.3

Economic growth

2.4

Comparative advantage

2.5

Firms, markets, and price

3. Demand and Supply

3.1

3.2

3.3

Market equilibrium

3.4

Changes in price & quantity

4. Elasticity

4.1

Price elasticity of demand

4.2

Cross & income elasticity of demand

4.3

Elasticity of supply

5. Welfare Economics

5.1

Consumer & producer surplus

5.2

Deadweight loss

5.3

Price floor and price ceilings

5.4

5.5

Production quota & subsidies

6. Consumer Choice

6.1

Budget line & utility

6.2

Utility maximizing

6.3

Budget equation

6.4

Preferences & indifference curves

6.5

Optimal choice on budget line

7. Output and Costs

7.1

Short run product curve

7.2

7.3

8. Perfect Competition

8.1

Perfect competition definitions

8.2

Perfect competition firm’s output decisions

8.3

Perfect competition in the short run

8.4

Perfect competition in the long run

9. Monopoly

9.1

Monopoly definitions

9.2

Monopoly single-price: Marginal revenue & elasticity

9.3

Monopoly single-price: Price & output decisions

9.4

Price discrimination

10. Oligopoly

10.1

Oligopoly definitions

10.2

Oligopoly games & strategies: Prisoner’s dilemma

11. Government & Inequalities

11.1

11.2

Government actions in externalities

11.3

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