Module 1.
The Market System and the Circular Flow Diagram
1. Economic System- Common Economy, Market Economy, Traditional Economic
System, Mixed type
2. Rational Behavior- Marginalism,
3. Types of Economic System
4. Role of Economic Manager
5. The Millennium Development Goals
6. Economic Employment and Efficiency
7. Pool Employment using available resources
Law of Increasing Opportunity Cost, Optimal Allocation
Module 2
Theory and Analysis of Demand
Relationship of Demand Function and Supply Function
Law of Demand, Demand Schedule, Demand Function, Demand Curve, Demand
Equilibrium , price elasticity of Demand
Module 3
Supply
Law of Supply, Supply Curve, Supply Function, Supply Schedule, Market Equilibrium,
Optimal and Supply
Relationship of S
Consumer Surplus and Producer Surplus
Equilibrium of Demand and Supply
Determinants of Supply and Demand
Theories of consumer behavior
Utility, ordinal and Cardinal utility
Behavior and Utility maximization
Indifference curves
Budget Line, Consumer Equilibrium Position
Total Utility and marginal Utility
Budget Constraint
Utility and Maximizing role
Production Function and Cost estimation
Short run vs long run period
Budget function- Stages in production function
Total Product, Average product, Marginal product
Law of diminishing marginal returns
Production cost analysis
Total Cost, Marginal Cost, Average Cost, Explicit cost, Implicit costs, variable, Fixed
costs
Economies of scale
Economies of Scope
Different Market Structure
Pure competition- characteristics
Characteristics of Imperfect Competition
Characteristics of Oligopoly
Characteristics of Pure Monopoly
What is competitive Market
Profit maximization and firm supply curve
How monopolies make production and pricing decision
Monopoly vs competition
Proce discrimination
Public Policy towards oligopolies
Gain theory and economics of cooperation
Introduction to Macroeconomics
Measuring economic activity
Aggregate demand and aggregate supply
Expenditure and income approach
Equilibrium output multiplier
Income approach
Expenditure approach
Nominal GDP and Real GDP
Shortcomings of GDP
Phases of Business Cycle
Peak recession, trough and expansion
Possible general sources of shocks that can cost business cycle
Irregular innovation
Productivity Changes
Monetary Factors
Political Events
Financial Instability
Measuring of unemployment
Types of unemployment
Inflation
Measurement of Inflation and the Philips curve
Money, banking, and Financial Institutions
Characteristics and function of Money
Monetary tools
Money creations
Money creating transactions
Off commercial bank
Fiscal Policy
Aggregate Demand, aggregate supply model
Built in instability
Problems Criticisms, complication, and public debt
Expansionary Fiscal policy
Contractionary Fiscal Policy
Module 11
Economy
Trade surplus and deficit
Comparative advantage
Absolute advantage
Trade barriers
Balance of Payments
Exchange rates, fixed and flexible
The economic of information
Module 12
International Trade and Balance of pmts
Intl trade theories
Comparative advantage
Trade protections and barriers
Balance of pyt acts
Economic integration
Module 13
Economic Devt
Economic Debt. Vs economic growth
Modern Theories and economic growth
Harrod Domar Model
Lewis Two-sector Model
Solow Growth model
Core values of Devt.
The ability to meet basic needs sustenance
To be a person (Self esteem)
To be able to choose (freedom and servitudes)
Factors that contribute to the lack of progress in the PH
Issues in economic development
Population Growth
Food Shortage
Third world Debt
IMF and World Bank
