"very very good app"
"This book is very useful and very understandable. I love it."
282
Sub Topics
786
MCQs
381
MCOs
578
True/False
321
Fill Blanks
96
Rearrange
314
Matching
180
Comprehensions
301
Flashcard Decks
Curriculum
What You'll Learn
01 Introduction to Microeconomics 4 topics
1 Definition and Scope of Microeconomics
- Distinction Between Microeconomics and Macroeconomics
- History and Evolution of Microeconomic Theory
- Key Microeconomic Questions
2 Basic Economic Problems
- Scarcity and Choice
- Opportunity Cost
- Production Possibilities Frontier
3 Economic Systems
- Market Economy
- Command Economy
- Mixed Economy
4 Economic Methodology
- Positive vs. Normative Economics
- Models and Assumptions
- Ceteris Paribus Principle
02 Basic Economic Concepts and Tools 4 topics
1 Resources and Factors of Production
- Land
- Labor
- Capital
- Entrepreneurship
2 Circular Flow Model
- Two-Sector Model
- Three-Sector Model
- Four-Sector Model
3 Introduction to Markets
- Types of Markets
- Market Participants
- Market Interactions
4 Specialization and Trade
- Absolute Advantage
- Comparative Advantage
- Terms of Trade
- Gains from Trade
03 Supply and Demand Analysis 4 topics
1 Demand Theory
- Law of Demand
- Individual and Market Demand
- Determinants of Demand
- Movement Along vs. Shift in Demand Curve
2 Supply Theory
- Law of Supply
- Individual and Market Supply
- Determinants of Supply
- Movement Along vs. Shift in Supply Curve
3 Market Equilibrium
- Equilibrium Price and Quantity
- Surplus and Shortage
- Price Mechanisms and Adjustment
- Comparative Statics Analysis
4 Price Controls and Market Interventions
- Price Ceilings
- Price Floors
- Quotas and Licenses
- Taxes and Subsidies
04 Elasticity 4 topics
1 Price Elasticity of Demand
- Definition and Measurement
- Determinants of PED
- Elastic, Inelastic, and Unitary Demand
- Total Revenue and Price Elasticity
2 Price Elasticity of Supply
- Definition and Measurement
- Determinants of PES
- Elastic, Inelastic, and Unitary Supply
- Time Periods and Supply Elasticity
3 Cross and Income Elasticities
- Cross-Price Elasticity of Demand
- Complementary and Substitute Goods
- Income Elasticity of Demand
- Normal, Inferior, and Luxury Goods
4 Applications of Elasticity
- Tax Incidence
- Price Discrimination
- Government Policy Analysis
- Business Decision Making
05 Consumer Theory 4 topics
1 Utility Theory
- Cardinal Utility Approach
- Ordinal Utility Approach
- Total and Marginal Utility
- Law of Diminishing Marginal Utility
2 Consumer Preferences and Indifference Curves
- Properties of Indifference Curves
- Marginal Rate of Substitution
- Special Cases of Indifference Curves
- Budget Constraints
3 Consumer Optimization
- Utility Maximization
- Corner Solutions
- Consumer Equilibrium Conditions
- Lagrangian Method
4 Income and Substitution Effects
- Price Changes and Consumer Response
- Slutsky Equation
- Hicksian Approach
- Giffen Goods
06 Theory of Production 4 topics
1 Production Functions
- Short-Run vs. Long-Run
- Total, Average, and Marginal Product
- Law of Diminishing Returns
- Returns to Scale
2 Isoquants and Production Decisions
- Properties of Isoquants
- Marginal Rate of Technical Substitution
- Isocost Lines
- Producer Equilibrium
3 Input Combinations and Optimization
- Cost Minimization
- Output Maximization
- Expansion Path
- Technological Change
4 Special Production Functions
- Cobb-Douglas Production Function
- Leontief Production Function
- Constant Elasticity of Substitution
- Production with Multiple Outputs
07 Theory of Costs 4 topics
1 Economic Costs
- Explicit vs. Implicit Costs
- Accounting vs. Economic Profit
- Sunk Costs
- Opportunity Costs
2 Short-Run Cost Analysis
- Fixed and Variable Costs
- Total, Average, and Marginal Costs
- Relationship Between Cost Curves
- Shutdown and Break-Even Points
3 Long-Run Cost Analysis
- All Costs as Variable
- Long-Run Average Cost Curve
- Economies and Diseconomies of Scale
- Minimum Efficient Scale
4 Cost Functions and Production Technology
- Derivation from Production Functions
- Cost Minimization
- Learning Curve Effects
- Multi-Plant Operations
08 Perfect Competition 4 topics
1 Characteristics of Perfect Competition
- Large Number of Buyers and Sellers
- Homogeneous Products
- Perfect Information
- Free Entry and Exit
2 Short-Run Firm Equilibrium
- Price Takers
- Profit Maximization
- Marginal Revenue = Marginal Cost Rule
- Short-Run Supply Curve
3 Short-Run Market Equilibrium
- Market Supply and Demand
- Producer and Consumer Surplus
- Efficiency of Perfect Competition
- Impact of Taxes and Subsidies
4 Long-Run Firm and Market Equilibrium
- Zero Economic Profit Condition
- Entry and Exit Dynamics
- Long-Run Supply Curve
- Constant-Cost, Increasing-Cost, and Decreasing-Cost Industries
09 Monopoly 4 topics
1 Characteristics of Monopoly
- Single Seller
- Barriers to Entry
- Price Maker
- Sources of Monopoly Power
2 Profit Maximization for Monopolies
- Marginal Revenue < Price
- MR = MC Rule
- Absence of Supply Curve
- Markup Pricing
3 Welfare Effects of Monopoly
- Deadweight Loss
- Rent Seeking
- X-Inefficiency
- Price Discrimination vs. Single Price
4 Price Discrimination
- First-Degree (Perfect) Price Discrimination
- Second-Degree Price Discrimination
- Third-Degree Price Discrimination
- Two-Part Tariffs and Bundling
10 Monopolistic Competition 4 topics
1 Characteristics of Monopolistic Competition
- Many Sellers
- Product Differentiation
- Free Entry and Exit
- Non-Price Competition
2 Short-Run Equilibrium
- Downward-Sloping Demand Curve
- Profit Maximization
- Possible Economic Profit
- Excess Capacity Theorem
3 Long-Run Equilibrium
- Zero Economic Profit
- Tangency Solution
- Comparison with Perfect Competition
- Chamberlin's Large Group Analysis
4 Product Differentiation Strategies
- Vertical vs. Horizontal Differentiation
- Advertising and Brand Loyalty
- Location Models
- Product Proliferation
11 Oligopoly 4 topics
1 Characteristics of Oligopoly
- Few Sellers
- Strategic Interaction
- Barriers to Entry
- Homogeneous or Differentiated Products
2 Game Theory and Strategic Behavior
- Nash Equilibrium
- Dominant Strategy
- Simultaneous vs. Sequential Games
- Repeated Games
3 Models of Oligopoly
- Cournot Model (Quantity Competition)
- Bertrand Model (Price Competition)
- Stackelberg Model (Leader-Follower)
- Kinked Demand Curve Model
4 Collusion and Cartels
- Incentives to Collude
- Factors Affecting Cartel Stability
- Price Leadership
- Anti-trust Policies and Regulation
12 Factor Markets 4 topics
1 Demand for Factors of Production
- Marginal Revenue Product
- Value of Marginal Product
- Derived Demand
- Elasticity of Factor Demand
2 Labor Markets
- Labor Supply and Labor-Leisure Choice
- Wage Determination
- Human Capital Theory
- Labor Market Discrimination
3 Capital Markets
- Present Value and Discounting
- Investment Decisions
- Capital Rental Rate
- User Cost of Capital
4 Land and Natural Resource Markets
- Economic Rent
- Land Use and Zoning
- Renewable Resources
- Non-renewable Resources and Hotelling's Rule
13 Market Failure and Government Intervention 4 topics
1 Externalities
- Positive and Negative Externalities
- Social vs. Private Costs and Benefits
- Coase Theorem
- Policy Solutions (Taxes, Subsidies, Regulation)
2 Public Goods
- Non-rivalry and Non-excludability
- Free-Rider Problem
- Optimal Provision of Public Goods
- Government Financing through Taxation
3 Common Pool Resources
- Tragedy of the Commons
- Property Rights Solutions
- Ostrom's Principles for Managing Commons
- Quota Systems and Tradable Permits
4 Information Asymmetry
- Adverse Selection
- Moral Hazard
- Principal-Agent Problems
- Signaling and Screening
14 General Equilibrium and Welfare Economics 4 topics
1 Partial vs. General Equilibrium
- Interrelated Markets
- Input-Output Analysis
- Walrasian General Equilibrium
- Existence and Stability of Equilibrium
2 Edgeworth Box Analysis
- Pure Exchange Economy
- Contract Curve
- Pareto Efficiency in Exchange
- Competitive Equilibrium
3 Welfare Economics
- Pareto Efficiency
- First Fundamental Theorem of Welfare Economics
- Second Fundamental Theorem of Welfare Economics
- Social Welfare Functions
4 Market Efficiency and Equity
- Efficiency vs. Equity Tradeoffs
- Income Distribution
- Rawlsian Justice
- Compensation Principles
15 Behavioral Economics 4 topics
1 Bounded Rationality
- Satisficing vs. Maximizing
- Heuristics and Biases
- Framing Effects
- Limited Attention
2 Decision Making Under Uncertainty
- Expected Utility Theory
- Prospect Theory
- Loss Aversion
- Ambiguity Aversion
3 Time Inconsistency and Self-Control
- Hyperbolic Discounting
- Commitment Devices
- Procrastination Models
- Dual-Self Models
4 Social and Other-Regarding Preferences
- Altruism and Fairness
- Reciprocity
- Trust and Cooperation
- Social Norms and Identity
16 International Trade and Microeconomics 4 topics
1 International Trade Theory
- Ricardian Model
- Heckscher-Ohlin Model
- New Trade Theory and Economies of Scale
- Gravity Model of Trade
2 Trade Policy
- Tariffs and Their Effects
- Non-Tariff Barriers
- Free Trade Agreements
- Political Economy of Protectionism
3 Exchange Rates and Microeconomic Decision Making
- Currency Markets
- Purchasing Power Parity
- Exchange Rate Risk Management
- International Pricing Strategies
4 Multinational Firms
- Foreign Direct Investment
- Transfer Pricing
- Global Value Chains
- International Factor Mobility
17 Environmental Economics 4 topics
1 Economics of Pollution
- Optimal Pollution Levels
- Pigouvian Taxes
- Emission Trading Systems
- Direct Regulation and Standards
2 Climate Change Economics
- Social Cost of Carbon
- Discounting Future Damages
- International Climate Agreements
- Carbon Pricing Mechanisms
3 Natural Resource Economics
- Renewable Resource Management
- Optimal Extraction of Non-renewable Resources
- Biodiversity and Ecosystem Services
- Property Rights and Resource Management
4 Sustainable Development
- Weak vs. Strong Sustainability
- Green Accounting and GDP Alternatives
- Environmental Kuznets Curve
- Circular Economy Models
18 Information Economics 4 topics
1 Economics of Information
- Information as an Economic Good
- Search Theory
- Value of Information
- Network Effects
2 Market Structure and Information
- Information and Market Power
- Switching Costs
- Lock-in Effects
- Two-sided Markets and Platforms
3 Information Technology Economics
- Economics of Digital Goods
- Versioning and Bundling
- Online Marketplaces
- Data Economics
4 Regulation of Information Markets
- Intellectual Property Rights
- Privacy Regulation
- Net Neutrality
- Platform Regulation
Explore More
Microeconomics
Get it on Google Play