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Unit 1: Introduction to Economics 1.1 What Is Economics? 1.2 How Do Economists Approach the World? Unit 2: Microeconomics 2.1 Demand 2.2 Supply 2.3 Competitive Market Equilibrium 2.4 Critique of the Maximizing Behaviour of Consumers and Producers 2.5 Elasticity of Demand 2.6 Elasticity of Supply 2.7 Role of Government in Microeconomics 2.8 Market Failure--Externalities and Common Pool or Common Access Failures 2.9 Market Failure--Public Goods 2.10 Market Failure--Asymmetric Information 2.11 Market Failure--Market Power 2.12 The Market's Inability to Achieve Equality Unit 3: Macroeconomics 3.1 Measuring Economic Activity and Illustrating its Variations 3.2 Variations in Economic Activity—Aggregate Demand and Aggregate Supply 3.3 Macroeconomic Objectives 3.4 Economics of Inequality and Poverty 3.5 Demand Management (Demand-Side Policies)—Monetary Policy 3.6 Demand Management—Fiscal Policy 3.7 Supply-Side Policies UNIT 4:- The global economy 4.1 Benefits of international trade 4.2 Types of Trade Protection 4.3 Arguments for and Against Trade Control/Protection 4.4 Economic Integration 4.5 Exchange Rates 4.6 Balance of Payments 4.7 Sustainable Development 4.8 Measuring Development 4.9 Barriers to Economic Growth and/or Economic Development 4.10 Economic Growth and/or Economic Development Strategies


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