Economics

Resource - Week 1: Scarcity, Trade-Offs, Decision-Making, Marginal Benefit, Productivity

Resource - Week 2:  Circular Flow Diagram, Production Possibilities Frontier, Positive Statements, Normative Statements

Resource - Week 3: Independence and the Gains from Trade: Absolute Advantage, Comparative Advantage, Imports & Exports

Resource - Week 4:  Supply and Demand, Normal Goods, Inferior Goods, Equilibrium

Resource - Week 5:   Elasticity, Total Revenue, Price Elasticity of Demand, Income Elasticity of Demand, Cross-Price Elasticity of Demand, Price Elasticity of Supply

Resource - Week 6: Supply, Demand & Government Policy: Price Floor, Price Ceiling, Tax Incidence

Resource - Week 7: Consumers, Producers, and the Efficiency of Markets: Welfare Economics, Willingness to Pay, Consumer Surplus, Cost, Producer Surplus, Efficiency, Equality

Resource - Week 8: Application: Cost of Taxation: Deadweight Loss

Resource - Week 9: International Trade, World Price, Tariff

Resource - Week 10: Externalities: Externality, Corrective Taxes, Coarse Theorem, Transaction Costs.

Resource - Week 11: Public Goods and Common Resources: Excludability, Rivalry in Consumption, Private Goods, Public Goods, Common Resources, Club Goods, Free Rider, Cost-Benefit Analysis, Tragedy of the Commons

Resource - Week 12: Design of the Tax System: Average Tax Rate, Marginal Tax Revenue, Lump-Sum Tax, Benefits Principle, Ability-to-Pay Principle, Vertical Equity, Horizontal Equity, Proportional Tax, Regressive Tax, Progressive Tax.

Resource - Week 13: Cost of Production: Total Revenue, Total Cost, Profit, Explicit Costs, Implicit Costs, Economic Profit, Accounting Profit, Production Function, Marginal Product, Diminishing Marginal Product, Fixed Costs, Variable Costs, Average Total Cost, Average Fixed Cost, Average Variable Cost, Marginal Cost, Efficient Scale, Economies of Scale, Diseconomies of Scale, Constant Returns to Scale

Resource - Week 14: Costs of Production cont.: Competitive Market, Average Revenue, Marginal Revenue, Sunk Cost.

Resource - Week 15: Monopoly, Natural Monopoly, Price Discrimination

Resource - Week 16: Oligopoly, Monopolistic Competition

Resource - Week 17: Oligopoly, Game Theory, Collusion, Cartel, Nash Equilibrium, Prisoners’ Dilemma, Dominant Strategy