Microeconomics

Microeconomics

Foundations
1. Ceteris Paribus
2. Scarcity
  1. Opportunity cost
  2. Factors of production
  3. PPF
  4. Growth
  5. Capital and Consumer Goods
3. Allocation
4. Normative and Positive Economics
Demand
1. Law of demand
2. Price & Non- Price Determinants
3. Types of goods
Supply
1. Law of Supple
2. Vertical Supply
3. Changes in Supply
Elasticity
1. Price Elasticity of Demand (PED)
  1. Differences in the Curve
  2. PED Determinants
2. Cross Elasticity of Demand (XED)
3. Income Elasticity of Demand (YED)
4. Price Elasticity of Supply (PES)
Revenue
1. Total Revenue
2. Elasticity & Revenue
3. Commodities
Theory of firm
1. Short Run & Long Run
2. Cost Theory
  1. Economic Cost
  2. Marginal & Average Costs
3. Law of Diminishing Returns
  1. Returns to Scale
  2. Diseconomics of Scale
4. Revenues
  1. Revenue Theory
  2. Profit
    1. Maximizing Profit
  3. Shut-Down & Break-Even
5. Types of Market
  1. Perfect Competition
  2. Monopoly
  3. Oligopoly
  4. Monopolistic Competiton
6. Efficiency
  1. Allocative Efficiency
  2. Productive Efficiency
7. Prisoner’s Dilemma
8. Market Failure
  1. Externalities
    1. Negative Externalities of Production
    2. Positive Externalities of Production
    3. Negative Externalities of Consumption
    4. Price Externalities of Consumption
Market Equilibrium
1. Efficiency in Competitive Market
2. Consumer & Producer Surplus
3. Allocative Efficiency
Government intervention
1. Taxation
  1. Direct Taxes
  2. Indirect Taxes
    1. Specific Tax
    2. Percentage Tax (Ad Valrem)
2. Subsidies
  1. Outcomes
3. Welfare Loss (Dead Weight Loss)
4. Price Controls
  1. Price Floors
  2. Price Ceilings
  3. Inefficiency

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