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Unit 1: Basic Economic Concepts (80)
  • Scarcity (20)
  • Resource allocation and economic systems (10)
  • The Production Possibilities Curve (10)
  • Comparative advantage and gains from trade (20)
  • Cost-benefit analysis (10)
  • Marginal analysis and consumer choice (10)
Unit 2: Supply and Demand (70)
  • Demand (10)
  • Supply (10)
  • Elasticity (10)
  • Market equilibrium; disequilibrium and changes in equilibrium (20)
  • The effects of government intervention in markets (10)
  • International trade and public policy (10)
Unit 3: Production; Cost and the Perfect Competition Model (50)
  • The production function (10)
  • Short- and long-run production costs (10)
  • Types of profit (10)
  • Profit maximization (10)
  • Perfect competition (10)
Unit 4: Imperfect Competition (40)
  • Monopoly (10)
  • Price discrimination (10)
  • Monopolistic competition (10)
  • Oligopoly and game theory (10)
Unit 5: Factor Markets (40)
  • Introduction to factor markets (10)
  • Changes in factor demand and factor supply (10)
  • Profit-maximizing behavior in perfectly competitive factor markets (10)
  • Monopsonistic markets (10)
Unit 6: Market Failure and the Role of Government (50)
  • Socially efficient and inefficient market outcomes (10)
  • Externalities (10)
  • Public and private goods (10)
  • The effects of government intervention in different market structures (10)
  • Income and wealth inequality (10)