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Economics (9640)

18セクション

The operation of markets, market failure and the role of government

The economic problem and methodology
How markets work
An introduction to production, costs, revenue and profit
Competitive and concentrated markets
Market failure and government intervention in markets

The economic problem and methodology

The nature and purpose of economic activity
Economic resources
Scarcity, choice and the allocation of resources
Production possibility diagrams
Economic methodology

How markets work

The demand for goods and services
Price, income and cross elasticities of demand
The supply of goods and services
Price elasticity of supply
The determination of market prices
The interrelationship between markets
How markets and prices allocate resources

An introduction to production, costs, revenue and profit

Production and productivity
Specialisation, division of labour and exchange
Costs of production
Economies and diseconomies of scale
Average revenue, total revenue and profit

Competitive and concentrated markets

Market structures
The objectives of firms
Competitive markets
Monopoly and monopoly power
The competitive market process

Market failure and government intervention in markets

The meaning of market failure
Private goods, public goods and quasi-public goods
Positive and negative externalities in consumption and production
Merit and demerit goods
Market imperfections
An inequitable distribution of income and wealth
Government intervention in markets
Government failure

The measurement of macroeconomic performance

The objectives of government economic policy
Macroeconomic indicators

How the macroeconomy works

The circular flow of income
Aggregate demand and aggregate supply analysis
Determinants of aggregate demand
Aggregate demand and the level of economic activity
Determinants of short-run aggregate supply
Determinants of long-run aggregate supply

Economic performance

Economic growth and the economic cycle
Employment and unemployment
Inflation and deflation
The balance of payments on current account
Possible conflicts between macroeconomic policy objectives

Macroeconomic policy

Monetary policy
Fiscal policy
Supply-side policies

The objectives of individuals and firms

The individual as a rational economic decision maker
Behavioural influences on individual economic decision making
The objectives of firms
The growth of firms

Costs, revenue and profits

The law of diminishing returns and returns to scale
Short-run cost curves
Long-run cost curves
Marginal, average and total revenue curves
Profit
Technological change

Perfect competition, imperfectly competitive markets and monopoly

Market structures
Perfect competition
Monopolistic competition
Oligopoly
Monopoly and monopoly power
Price discrimination
Contestable markets
The dynamics of competition and competitive market processes
Static efficiency, dynamic efficiency and resource allocation
Consumer and producer surplus
Competition policy
Public ownership, privatisation, regulation and deregulation of markets

The labour market

The demand for labour, marginal productivity theory
The supply of labour to different labour markets
The determination of relative wage rates and levels of employment in perfectly competitive labour markets
The determination of relative wage rates and levels of employment in imperfectly competitive labour markets
Discrimination in the labour market
Minimum wage laws

Poverty and inequality

The distribution of income and wealth within an economy
Government policies to alleviate poverty and to influence the distribution of income and wealth

Globalisation and trade

Globalisation
Trade

The balance of payments, exchange rates and financial markets

The balance of payments
Exchange rates
Financial markets

Economic growth and development

Measuring economic growth, development and living standards
Factors that affect economic development
Policies to promote development

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