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Syllabus |
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2. |
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First Principles |
Definition of economics
1. Individual Choice: The Core of Economics
2. Interaction: How Economics Work |
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3. |
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Economic Models |
Trade-offs and Trade
1. The Production Possibility Frontier
2. Transactions: The Circular-Flow Diagram
3. Using Model |
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Supply and Demand |
Supply and Demand
1. A model of a competitive market
2. The Demand Schedule and the Demand Curve
3. The Supply Schedule and the Supply Curve |
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5. |
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The Market Strikes Back |
The Market Strikes Back
1. Price Ceiling
2. Price Floor
3. Controlling Quantities |
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Consumer and Producer Surplus |
Consumer and Producer Surplus
1. Consumer surplus and demand curve
2. Producer surplus and supply curve
3. Gains from trade |
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Behind the supply curve |
Behind the supply curve: inputs and costs
1. Production function
2. Inputs and Cost 3. Short run vs Long run cost |
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perfect competition and supply curve |
perfect competition and supply curve
1. Perfect Competition
2. Production and Profit 3. Industry Supply |
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Monopoly |
Monopoly
1. Type of market structure
2. Monopoly
3. Monopoly and public policy |
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10. |
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Macroeconomics: The big picture |
Macroeconomics: The big picture
1. Micro vs Macro econ 2. The business cycle 3. Inflation 4. International Balance |
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11. |
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Tracking Macroeconomics |
Tracking Macroeconomics
1. National Account
2. Gross Domestic Production 3. Aggregate Price level |
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