Contents:

Introduction to Economics

Definition and scope of economics.
Basic economic concepts: scarcity, choice, and opportunity cost.

The Economic Problem

Understanding the fundamental problem of scarcity.
Production possibilities frontier (PPF) and its implications.

Demand and Supply

The law of demand and factors influencing it.
The law of supply and factors influencing it.
Market equilibrium and its significance.

Elasticity

Price elasticity of demand and supply.
Cross elasticity and income elasticity.

Consumer Behavior

Utility and marginal utility.
Indifference curve analysis and consumer equilibrium.

Production and Costs

Factors of production: land, labor, capital, and entrepreneurship.
Short-run and long-run production analysis.
Types of costs: fixed, variable, and total costs.

Market Structures

Perfect competition, monopoly, monopolistic competition, and oligopoly.
Characteristics and implications of each market structure.

Microeconomic Concepts

National income and output.
Inflation, unemployment, and economic growth.

Money and Banking

Functions of money.
Central banking, commercial banks, and the money supply.