Semester 1, 2018

Microeconomics (ECF1100) Notes

54 pages

14,432 words




Notes are based on textbook readings and lectures and cover the following topics:
1. Ten principles of economics
2. Thinking like an economist
3. Interdependence and the gains from trade
4. The market forces of supply and demand
5. Elasticity and its application
6. Supply, demand and government policies
7. Consumers, producers and the efficiency of markets
8. Application: The costs of taxation
9. Application: International trade
10. The markets for the factors of production
11. Externalities
12. Public goods and common resources
13. The costs of production
14. Firms in competitive markets
15. Monopoly
16. Monopolistic competition
17. Oligopoly and business strategy