Economics 101: Principles of Economics

  I. Introduction: Economics and "the economic way of thinking"
 II. The Micro Economy
     A. Market fundamentals: supply and demand
        1. Supply (S) and Marginal Cost (MC)
        2. Demand (D) and Marginal Benefit (MB)
        3. Equilibrium
     B. A closer look at microeconomic markets
        1. Competitive markets and social welfare
        2. Price elasticity of demand
        3. A closer look at costs and decisionmaking
III. The microeconomic role of government
     A. The strengths and weaknesses of markets
     B. Basic policymaking tools
        1. Price controls
        2. Taxes and subsidies
     C. Market failure
     D. Market power
 IV. The Macro Economy
     A. Measuring macro performance: output, unemployment, inflation
     B. Aggregate demand and aggregate supply
  V. The macroeconomic role of government
 VI. The Global Economy