1. Introduction to Microeconomics 3
2 2. Making and using graph; Trade-off and opportunity cost 3
3 3. Demand, Supply, and Equilibrium 3
4 4. Elasticity and its applications 3
5 5. Efficiency and Fairness of Market
a. Efficient allocation of resources.
b. Marginal Benefit (MB) and consumer surplus.
c. Marginal Cost (MC) and producer surplus.
d. Efficiency VS Fairness of market
3
6-7 6. Government Action in Markets:
a. Government Taxes, buyer, and sellers
b. Price ceiling, shortage, inefficiency, and unfairness.
c. Price floor, unemployment, inefficiency, and unfairness.
d. Price support, surplus, inefficiency, and unfairness.
3
8 7. Consumer: Consumer choice and Demand
a. Budget Constraints
b. Utility theory
c. Utility maximization
3