Economics

Grade 11

Grade 12

University — Year 1

Scarcity and Opportunity CostProduction Possibilities FrontierDemand Curve and Demand FunctionSupply Curve and Supply FunctionMarket Equilibrium and Price DiscoveryPrice Elasticity of DemandIncome Elasticity of DemandCross-Price Elasticity of DemandPrice Elasticity of SupplyConsumer Preferences and UtilityIndifference Curves and Marginal Rate of SubstitutionBudget Constraint and Consumption ChoiceConsumer SurplusProducer SurplusDeadweight Loss and Market InefficiencyProduction FunctionMarginal Product of LaborAverage Product of LaborTotal Cost of ProductionMarginal CostAverage Variable Cost and Average Total CostShort-Run Production DecisionsLong-Run Equilibrium and Cost MinimizationPerfect Competition Market StructureMonopoly and Price Maker PowerMonopolistic CompetitionOligopoly and InterdependenceGame Theory and Strategic BehaviorLabor Market Supply and DemandWage Determination and EquilibriumCapital and Interest RatesTime Value of Money and DiscountingNegative Externalities and Pigouvian TaxPositive Externalities and SubsidiesPublic Goods and Free Rider ProblemGross Domestic Product and Measurement MethodsNominal GDP and Real GDPInflation and Price IndicesUnemployment and Types of UnemploymentNatural Rate of UnemploymentAggregate Demand and ComponentsAggregate Supply and Price LevelKeynesian Model and Equilibrium OutputMultiplier Effect and Fiscal ImpactMonetary Policy and Central BankingFiscal Policy and Government SpendingInternational Trade and Comparative AdvantageExchange Rates and Foreign Exchange Markets

University — Year 2

University — Year 3

University