Economics notes pdf – KNEC Diploma


Number of Pages: 248 Pages
File size: 24 MB
Suitable for: Certificate, Diploma, University and Professional Courses

Topics Covered:

Topic 1: Introduction to economics
Topic 2: Demand analysis
Topic 3: Supply analysis
Topic 4: Price determination
Topic 5:  Production theory
Topic 6:  Theory of the firm
Topic 7:  Market structures
Topic 8: National income
Topic 9: Money and banking
Topic 10: Public Finance
Topic 11: Inflation
Topic 12: International trade
Topic 13: Population and unemployment
Topic 14: Economic growth and development
Topic 15: Emerging trends and issues in economics


  • 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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