Economics

Economics Course Outline

PRELIMS TOPICS

Module 1: Introduction to Economics

  •          Key Terminologies in Economics and Their Definitions

Module 2: Supply, Deman, and Market Equilibrium

  •          The Law of Demand (Inverse relationship between price and quantity demanded).

  •          Determinants (Shifters) of Demand (Income, tastes, prices of related goods, etc.).

Module 3: Consumer and Producer Behaviour

  •          Theory of the Firm (Production and Costs)


MIDTERMS TOPICS

Module 4: Market Structures

  •          Perfect Competition
  •          Monopoly
  •          Imperfect Competition

Module 5: Market Efficiency and Welfare

  •          Consumer Surplus and Producer Surplus
  •          Total Welfare and Market Efficiency.
  •          The Concept of Deadweight Loss.

Module 6: Market Failure and Public Goods

  •          Externalities
  •          Public Goods and Common Resources