Chapter 1
What Is Economics All About
I. Where Did Economics Come From?
II . What Is the Purpose of the Study of Economics?
III Subject Matter of Economics
IV. Definition of Economics
V . Macroeconomics and Microeconomics
and Their Goals
VI. The Classification of the Questions Western
Economics Deals with
VII Positive and Normative Economics
Chapter 2
Demand and Supply
1. Individual Demand
2 Market Demand
II. Supply
1. Individual Supply
2. Market Supply
III.The Interaction of Supply and Demand
1. The Market Equilibrium
2. Formation of Equilibrium Price
3. Excess Quantity Demanded or Shortages
4. Excess Quantity Supplied or Surplus
5. The Effects of Changes in Demand and Supply
on Equilibrium
IV. Restraining the Market Mechanism: Price Ceilings
and Price Floors
Chapter 3
Elasticity
1 . Definition of Elasticity
II. Elasticity of Demand
1. Price Elasticity of Demand
2. Unit Elasticity
3. Determinants of Elasticity of Demand
4. Elasticity of Demand and Total Revenue
of Sellers
5 Calculating Elasticity of Demand
6. Income Elasticity of Demand
7. Cross-elasticity of Demand
8. Substitutes, Complements and
Non-related goods
III. Elasticity of Supply
1. Totally Inelastic Supply
2. Totally Elastic Supply
3. Unit Elastic Supply
4. Inelastic Supply
5 Elastic Supply
Chapter 4
The Theory of Consumer Behaviour
I . Marginal Utility Analysis
1. Consumers
2. Wants and Utility
3. Consumer Equilibrium
II.Indifference Curve Analysis
1.The Indifference Curve
2.Assumptions about Preferences
3 Characteristics of the Indifference Curves
III. Budget Line
1. Properties of a Budget Line
2.Consumer Equilibrium
IV. Indifference Curves and Consumer
Demand Curve
1. Income-consumption Line
2. Price-consumption Line
3 Price-consumption Line and Demand Curve
V . Substitution and Income Effects
1 Substitution and Income Effects from
a Fall in Price
2 Substitution and Income Effects from
a Rise in Price
3. Substitution and Income Effects for
Inferior Goods
4. Substitution and Income Effects for
Giffen Goods
I. Different Forms of Firms
1. Sole Proprietorship
2. Partnership
3. Corporations
II . Production and its Basic Rules
1. Production Functions
2. Technological Coefficient
3. Production with One Variable Input
4. Economies of Scale
III Cost and Revenue Analysis
1. Cost Analysis
2.Revenue Analysis
IV. The Optimum Combination of Production
Resources
1. Isoquants
2.Characteristics of Isoquant
3.Iso-cost
I . The Goods Market and Factor Market
II . Three Co-ordination Tasks in the Economy
III. The Concept of Efficient Resource Allocation
1. Efficiency in Output Selection
2. Efficiency in Production Planning
3. Efficiency in Distribution of Commodities
4. How the Invisible Hand is at Work
Chapter 7
The Concept of Market Structure
I. Perfect Competition
1. The Rule of Revenues of a Firm under
Perfect Competition
2. Equilibrium of the Competitive Firm
II. Monopoly
1. Causes of Monopoly
2. Natural Monopoly
3. The Rule of Revenue under Monopoly
4.Firm's Equilibrium under Monopoly
III. Monopolistic Competition
1. Conditions for Monopolistic Competition
2. Equilibrium under Monopolistic Competition
IV. Oligopoly
1. Oligopoly Theory
2. Oligopoly Cost and Demand
3.The Kinked Demand Curve
V . Efficiency Comparison of Different Markets
Chapter 8
Distribution Theory
I . Distribution Theory Based on Marginal
Productivity
1. Marginal Productivity
2. Marginal Physical Product
3. Marginal Revenue Product
4. The Marginal Productivity Theory of
Distribution
II . Distribution Theory Based on Price Equilibrium
1. The Equilibrium Price Theory of Distribution 1
2. The Demand and Supply of Production
Resources
3. Determinants of the Equilibrium'Wage Rate
4. Marginal Efficiency of Capital and
Determination of the Interest Rate
5. Determinants of Equilibrium of Land Rent
III. Profit Theory
1. Innovation
2. Risk Bearing
3 Monopoly Profits
IV. Lorenz Curve
Summary
I . What Is Economics All About?
II . Demand and Supply
III. Elasticity
IV. The Theory of Consumer Behaviour
V . Production Theory
VI . Price System
VII. The Concept of Market Structure
VIII. Distribution Theory
BIBLIOGRAPHY
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