ECN 001
Principles of Economics I
- Nature and scope of economics
- Scarcity, choice, opportunity cost and economic systems
- Tools and methods of economic analysis
- Demand, supply and market equilibrium
- Elasticity of demand and supply
- Price controls, taxes and government intervention in markets
- Theory of consumer behaviour: utility and indifference curves
- Theory of production and costs
- Market structures: perfect competition, monopoly and oligopoly
- Factor markets, wages and income distribution
- Market failure, public goods and externalities