Wishlist Share
Share Course
Page Link
Share On Social Media

Course Content

Basic economic concepts

  • Introduction to economics
  • Introduction to economics
  • Scarcity
  • Scarcity and rivalry
  • Four factors of production
  • Economic models
  • Normative and positive statements
  • Economic systems
  • Property rights in a market system
  • Markets and property rights
  • Production possibilities frontier
  • Production possibilities curve
  • Opportunity cost
  • Increasing opportunity cost
  • PPCs for increasing, decreasing and constant opportunity cost
  • Comparative advantage and the terms of trade
  • Comparative advantage, specialization, and gains from trade
  • Comparative advantage and absolute advantage
  • Opportunity cost and comparative advantage using an output table
  • Terms of trade and the gains from trade
  • Input approach to determining comparative advantage
  • When there aren’t gains from trade
  • Comparative advantage worked example

Supply, demand, and market equilibrium


Consumer and producer surplus, market interventions, and international trade

Consumer theory

Production decisions and economic profit

Forms of competition

Student Ratings & Reviews

No Review Yet
No Review Yet

Want to receive push notifications for all major on-site activities?