Unit 1: Market Institutions
- The meaning of markets
- The development and expansion of markets
- The institutional requirements of markets
- Types of markets
Unit 2: Supply and demand
- The theory of supply
- The theory of demand
- The theory of market adjustment
- Topics in market analysis
Unit 3: Working with supply and demand
- How much money will sales bring in?
- The price elasticity of demand
- The price elasticity of supply
- Income, price and buyer behaviour
Unit 4: Production costs
- The production process
- Economic costs
- The production function
- Costs of production
Unit 5: Product decisions
- The nature of capital stocks
- Marginal thinking
- Discrete decision making
- Financial capital as an input to production
- Competitive equilibrium
Unit 6: Perfect competition
- Understanding market power and competition
- Perfect competition
- Efficiency and equity in the case of perfect competition
- Deadweight loss
Unit 7: Markets and market power
- The production process
- Economic costs
- The production function
- Costs of production
Unit 8: Markets for labour
- Thinking about markets for labour
- Labour supply
- Explaining variation in wages
- Labour in the traditional neoclassical model
Unit 9: Market failure and government policy
- Market failure
- The economics of the environment
- Regional and urban policy
- Social policy
Unit 10: Monopoly and mergers policy, competition policy and regulation
- Mergers and the public interest
- The control of mergers and acquisitions
- Privatisation
- Regulation and deregulation
We strongly recommend that you try to find a little time each week to engage in the online conversations (at times that are convenient to you) as the forums are an integral, and very rewarding, part of the course and the online learning experience.