Economics

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WAGmob brings you Simple 'n Easy, on-the-go learning book for "Economics".



The book provides:



Snack sized chapters for easy learning.



This book provides a quick summary of essential concepts in Economics by following snack sized chapters:



Introduction to Economics:

• Introduction.

• What is the use of Economics?

• Who is an Economist?

• What are Economists Expected to do?

• Basis Terms and Definitions.



Ten Principles of Economics:

• Ten Principles of Economics.

• 1: People Face Tradeoffs.

• 2: The Cost of Something is What You Give Up.

• 3: Rational People Think at the Margin.

• 4: People Respond to Incentives.

• 5: Trade Can Make Everyone Better Off.

• 6: Markets are usually a Good Way to Organize Economic Activity.

• 7: Governments can Sometimes Improve Market Outcomes.

• 8: A Country's Standard of Living Depends on its Ability to Produce Goods and Services.

• 9: Prices Rise When the Government Prints Too Much Money.

• 10: Society Faces a Short-Run Tradeoff between Inflation and Unemployment.



Theories of Economic Development and Growth:

• Economic Development.

• 3 Dominant Development Theories.

• What is Economic Growth?

• Theories of Economic Growth.

• Classical Growth Theory.

• Neoclassical Growth Theory.

• New Growth Theory.

• Growth in the Global Economy.

• Role of Government in Economics Growth.



Macroeconomics and Microeconomics:

• What is Macroeconomics?

• Macroeconomic Issues.

• Macroeconomic Policies.

• Gross Domestic Product.

• What is Microeconomics?

• Microeconomic Models.

• Microeconomics vs. Macroeconomics.



Utility:

• Utility.

• Marginal Utility.

• Law of Diminishing Marginal Utility.

• Marginal Utility of Water.

• Individual Demand.

• Diamond-Water Paradox.



Demand and Supply:

• Demand.

• Law of Demand.

• Demand Curve.

• Price and Demand Curve.

• Shift in Demand Curve.

• Factors Affecting Demand Curve.

• Increase or Decrease of Demand.

• Supply.

• Law of Supply.

• Supply Curve.

• Shift in Supply Curve.

• Market Supply.

• Price and Supply Curve.



Equilibrium:

• Equilibrium.

• Equilibrium Price.

• Equilibrium Quantity.

• Surplus Supply.

• Law of Supply and Demand.

• An Increase in Demand Affects Equilibrium.

• Shift in Curve.

• Movements along Curves.



Price Elasticity of Supply and Demand:

• Price Elasticity of Supply and Total Revenue.

• Elastic Supply.

• Inelastic Supply.

• Perfectly Inelastic Supply.

• Perfectly Elastic Supply.

• Total Revenue and Elasticity.

• Total Revenue and Inelastic Demand Curve.

• Elastic Demand Curve.

• Elasticity.

• Price Elasticity of Demand.

• Ranges of Elasticity.

• Determinants of Price Elasticity of Demand.

• Mid-point Formula.

• Unit Elastic Demand.

• Relatively Elastic Demand.

• Perfectly Elastic Demand.

• Perfectly Inelastic Demand.

• Relatively Inelastic Demand.



Managerial Economics:

• Managerial Economics.

• What is Managerial Economics?

• Application of Economics to Business Management.

• Characteristics of Managerial Economics.

• Scope of Managerial Economics.

• Demand Analysis and Forecasting.

• Cost and Production Analysis.

• Pricing Decisions, Policies, and Practices.

• Profit Management.

• Capital Management.

• Nature of Managerial Economics.

• Economic Intelligence.



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