Description
- Introduction to Economics
- Meaning of economics
- Scope of economics
- Human wants
- Economic resources
- Concepts of scarcity and choice
- Economic systems
- Demand analysis
- Concept of demand
- Factors affecting demand of a product
- Demand curve derivation
- Shift and movement along a demand curve
- Definition of elasticity of demand
- Types of elasticity of demand
- Supply analysis
- Concept of supply
- Factors affecting supply of a product
- Supply curve derivation
- Shift and movement along the supply curve
- Elasticity of supply
- Types of elasticity of supply
- Price determination
- Definition of price
- Determination of price
- Equilibrium position in the market
- Production theory
- Production concept
- Purpose of production
- Factors of production and their rewards
- Levels of production
- Law of diminishing returns
- Theory of firm
- Distinction between firm and industry
- Costs of production
- Concepts of revenue
- Economies of scale and diseconomies of scale
- Factors affecting location of an industry
- Optimal size of a firm
- Market Structures
- Definition of market
- Types of market structures
- Needs for control of power in market structures
- Ways of controlling powers in different market structures
- National income
- Definition of national income
- Concepts of national income
- Circular flow of National income
- Methods of measuring national income
- Importance of national income
- Factors affecting national income
- Causes of income disparities
- National income equilibrium
- Money and banking
- Definition of money
- Characteristics of money
- Functions of money
- Demand and supply of money
- Meaning of banking
- Functions of commercial banks
- Functions of central bank
- Non- banking financial instituions
- Public finance
- Definition of public finance
- Principle of public finance
- Effects of government expenditure
- Source of government revenue
- Purpose of taxation
- Types of taxes
- Meaning of fiscal policy
- National budget
- Public debt/borrowing
- Inflation
- Definition of inflation
- Types of inflation
- Causes of inflation
- Effects of inflation
- Measures used to control inflation
- International trade
- Definition of international trade
- Importance of international trade
- Advantages and disadvantages of international trade
- Theories of comparative advantage and absolute advantage
- Balance of trade
- Balance of payment
- Barriers to international trade
- Exchange rate systems
- Economic integration/regional groupings
- Functions of international monetary fund ( IMF) and World Bank
- Population and unemployment
- Definition of population
- Population growth
- Effects of population growth
- Meaning of unemployment
- Causes of unemployment
- Solution to unemployment
- Economic growth and development
- Meaning of economic growth and economic development
- Factors determining growth and development
- Need for development
- Emerging trends and issues in Economics
- Emerging economic trends and issues
- Challenges posed by emerging economic trends and issues
- Approaches to manage emerging economic trends and issues
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