Sunteți pe pagina 1din 2

Chapter 1 - Nature, Scope and c.

Determinants of Demand
Methodology of Economics d. Change in Demand and Change in
1 - The Origin of Economics 3 - Supply
2 - Definition of Economics a. Law of Supply
a. As a Science b. Supply Function, Schedule and
b. As a Social Science Curve
c. Economics and Human Wants c. Determinants of Supply
d. Economics and the Concept of d. Change in Supply and Change in Qs
Scarcity 4 - Market Equilibrium
3 - Importance of Economics a. Finding the Equilibrium
4 - Macroeconomics vs. Microeconomics Mathematically
5 - Economic Methodology b. Finding the Equilibrium in Tabular
a. Positive vs. Normative Economics Form
b. Inductive vs. Deductive Method c. Finding the Equilibrium on Graph
c. Understanding Economic Form
Approaches using a Function, 5 - The Effect of a Change in Demand or
Schedule and a Graph Change in Supply on Market Equilibrium
a. Effect of Increase in Demand
Chapter 2 - Scarcity and Economic b. Effect of Decrease in Demand
Systems c. Effect in Increase Supply
1 - Indicators of Scarcity d. Effect of Decrease Supply
2 - Classification of Resources 6 - Effect of a Simultaneous Changes in
3 - The Production Possibilities Curve Demand and Supply
4 - Basic Economic System a. Supply Increases, Demand
5 - Economic Systems Increases
a. Traditional Economic System b. Supply Increases, Demand
b. Market System Decreases
c. Command Economy c. Supply Decreases, Demand
d. Mixed Economy Increases
6 - Economic Goals d. Supply Decreases, Demand
7 - The Millennium Development Goals Decreases

Part II - Microeconomics: Chapter 4 - Application of Demand and

Circular Flow for Microeconomics Supply and the Concept of Elasticity
1 - Government Intervention in the Market
Chapter 3 - Market Demand and Market a. Price Control or Price Ceiling
Supply b. Price Support or Floor Price
1 - Definition of Market c. Minimum Wages
2 - Demand 2 - Elasticity
a. The Law of Demand a. Price Elasticity of Demand
b. Demand Function, Schedule and i. Elastic or Relatively Elastic
ii. Unitary or Unit Elastic 5 - Economic Cost
Demand a. Economic Cost and Opportunity
iii. Inelastic or Relatively Cost
Inelastic Demand b. Explicit Cost vs. Implicit Cost
iv. Perfectly Elastic Demand c. Total (TC), Average (AV) and
v. Perfectly Inelastic Demand Marginal Cost (MC)
b. The Price Elasticity of Supply d. Total Fixed Cost (TVC), Total
c. The Income Elasticity of Demand Variable Cost (TVC), and Total Cost
i. Normal vs. Inferior Goods (TC)
d. The Cross (Price) Elasticity of e. Average Total Cost (ATC), Average
Demand Fixed Cost (AFC), Average Variable
i. Substitute vs. Cost (AVC), and Marginal Cost (MC)
Complementary Goods
e. Factors that Affect Elasticity of
Goods of Demand for Goods

Chapter 5 - Theory of Consumers

1 - Cardinal Utility or Marginal Utility Theory
The Law of Diminishing Marginal
Utility Theory
2 - The Ordinal Utility Theory or Indifference
Curve Theory
a. The Indifference Curve
b. The Budget Constraint
c. The Consumer’s Equilibrium

Chapter 6 - The Theory of Production

and Cost
1 - Production Function
a. Fixed Inputs and Variable Inputs
2 - Production Periods or Market Periods in
a. Very short-run Period or Immediate
b. Short-run Period
c. Long-run Period
3 - The Law of Diminishing Marginal
4 - Three Stages of Production
a. Stage of Increasing Returns
b. Stage of Decreasing Returns
c. Stage of Negative Returns