Introduction

Economics Part A

Table of Contents

Introduction

Fundamentals of Micro-Economics Course Objectives

Introduction to Economics

What is a Curve

Naming of Curves

The Shape of the Curve Illustrates the Point

Forming the Curve – Explained

Micro-economics – Macro-economics

Declining Marginal Output and Increasing Marginal Costs

Diminishing Marginal Returns Explained

The Meaning and Proper Use of Marginal Output

Increasing Marginal Cost

The New Carpenters Production Costs

Production Possibilities Curve

Background to the Production Possibilities Curve

Shape of the Production Possibilities Curve With an Illustration

Under-use of Resources

Opportunity Cost Definition

Three Types of Costs

Other Examples of Marginal Cost

Shifts in the Production Possibilities Curve

Causes of Improvement in Manufacturing Capability

Causes of Decline in Manufacturing Capability

Marginal Cost

Production Possibilities Curve – A Summary

The Purpose of the Scenarios

Comparative Advantage

Comparative Advantage Explained With an Illustration

Barter System Explained

Trade Between Countries Using the Barter System

How to calculate the price

Understanding What is Absolute Advantage

Comparative Advantage Proper Use

Consumption Possibilities Curve Explained

Definition of Gross Domestic Product

Gross Domestic Product and National Accounts

GDP – Gross Domestic Product

Calculating Gross Domestic Product for a Country

The Difference Between Capital Goods and Consumer Goods

Methods of Calculating GDP or Gross Domestic Product

GDP is also the national income

Calculating GDP for a Country with Imports

GDP Calculation Process

The Uses of GDP (Gross Domestic Product)

The effect of Imports

National Accounts

Gross Investment and Net Investment

GDP vs. NDP

Capital Investments Constitute a Nations Savings

The Sources and Uses Form

Understanding The PPC Curve

GDP and NDP

National Accounts – Summary

Demand and Supply

Market Supply Curve – Explanation

Demand Curve Definition

Market Equilibrium Price Explained

Relationships Between Types of Products

Elasticity of the Supply and Demand Curve

The Connection between Price and Revenues

Government Influence on the Market Price

Supply and Demand in the Rest of the World

The Household

Introduction to Household

Understanding What is Lorenz Curve

Understanding Gini Index – What is it?

Progressive Taxation, Regressive Taxation and Flat Tax

The Consumption Curve Explained

The Central Bank

The Function of Commercial Banks

What Money Is

Bank Lending

The process by which the bank increases the money supply

The Reserve Ratio

Bankruptcy

How To Make the Money grow?

Reserve Ratio and Money Supply

The Effect of Michael’s Gift According to a Different Scenario

Bank Balance Sheet Format

Deposit Multiplier and Loan Multiplier

Understanding The Monetary Base

The Central Bank

Appendix A- The Financial Statements of a Firm

Income Statement Example – Simplified

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Introduction

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Investments

Investment for Beginners

Investments

Types Of Investments

Investments

How To Make Money In Stocks

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Production Possibilities Curve

Economics Part A

Introduction

Economics Part A

Introduction

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