1. The Basic Economic Problem

• 1.1 The Nature of the Economic Problem
• 1.2 The Factors of Production
• 1.3 Opportunity Cost
• 1.4 Production Possibility Curves

2. The Allocation of Resources

• 2.1 Microeconomics & Macroeconomics
• 2.2 The Role of Markets in Allocating Resources
• 2.3 Demand
• 2.4 Supply
• 2.5 Price Determination
• 2.6 Price Changes
• 2.7 Price Elasticity of Demand (PED)
• 2.8 Price Elasticity of Supply (PES)
• 2.9 Market Economic System
• 2.10 Market Failure
• 2.11 Mixed Economic System

3. Microeconomic Decision Makers

• 3.1 Money & Banking
• 3.2 Households
• 3.3. Workers
• 3.4 Trade Unions
• 3.5 Firms
• 3.6 Firms & Production
• 3.7 Firms’ Costs, Revenue & Objectives
• 3.8 Market Structure

4. Government & the Macroeconomy

• 4.1 The Role of Government
• 4.2 The Macroeconomic Aims of Government
• 4.3 Fiscal Policy
• 4.4 Monetary Policy
• 4.5 Supply-side Policy
• 4.6 Economic Growth
• 4.7 Employment & Unemployment
• 4.8 Inflation & Deflation

5. Economic Development

• 5.1 Living Standards
• 5.2 Poverty
• 5.3 Population
• 5.4 Differences in Economic Development

6. International Trade & Globalisation

• 6.1 International Specialisation
• 6.2 Globalisation, Free Trade & Protection
• 6.3 Foreign Exchange Rates
• 6.4 Current Account of Balance of Payments