Principles of microeconomics for ap® courses

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0.6 About Principles of Microeconomics for AP ® Courses

0.7 Coverage and scope

0.8 Pedagogical foundation

0.9 Questions for each level of learning

0.10 Updated art

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1 The use of mathematics in principles of economics

2 Indifference curves

3 Present discounted value

Welcome to economics!

1 What is economics, and why is it important?

2 Microeconomics and macroeconomics

3 How economists use theories and models to understand economic issues

4 How economies can be organized: an overview of economic systems

Choice in a world of scarcity

Introduction to choice in a world of scarcity

1 How individuals make choices based on their budget constraint

2 The production possibilities frontier and social choices

3 Confronting objections to the economic approach

Demand and supply

Introduction to demand and supply

1 Demand, supply, and equilibrium in markets for goods and services

2 Shifts in demand and supply for goods and services

3 Changes in equilibrium price and quantity: the four-step process

4 Price ceilings and price floors

5 Demand, supply and efficiency

Labor and financial markets

Introduction to labor and financial markets

1 Demand and supply at work in labor markets

2 Demand and supply in financial markets

3 The market system as an efficient mechanism for information

Introduction to elasticity

1 Price elasticity of demand and price elasticity of supply

2 Polar cases of elasticity and constant elasticity

3 Elasticity and pricing

4 Elasticity in areas other than price

Consumer choices

Introduction to consumer choices

1 Consumption choices

2 How changes in income and prices affect consumption choices

3 Labor-leisure choices

4 Intertemporal choices in financial capital markets

Cost and industry structure

Introduction to cost and industry structure

1 Explicit and implicit costs, and accounting and economic profit

2 The structure of costs in the short run

3 The structure of costs in the long run

Perfect competition

Introduction to perfect competition

1 Perfect competition and why it matters

2 How perfectly competitive firms make output decisions

3 Entry and exit decisions in the long run

4 Efficiency in perfectly competitive markets

Introduction to a monopoly

1 How monopolies form: barriers to entry

2 How a profit-maximizing monopoly chooses output and price

Monopolistic competition and oligopoly

Introduction to monopolistic competition and oligopoly

1 Monopolistic competition

Monopoly and antitrust policy

Introduction to monopoly and antitrust policy

1 Corporate mergers

2 Regulating anticompetitive behavior

3 Regulating natural monopolies

4 The great deregulation experiment

Environmental protection and negative externalities

Introduction to environmental protection and negative externalities

1 The economics of pollution

2 Command-and-control regulation

3 Market-oriented environmental tools

4 The benefits and costs of u.s. environmental laws

5 International environmental issues

6 The tradeoff between economic output and environmental protection

Positive externalitites and public goods

Introduction to positive externalities and public goods

1 Why the private sector under invests in innovation

2 How governments can encourage innovation

Poverty and economic inequality

Introduction to poverty and economic inequality

1 Drawing the poverty line

2 The poverty trap

3 The safety net

4 Income inequality: measurement and causes

5 Government policies to reduce income inequality

Issues in labor markets: unions, discrimination, immigration

Introduction to issues in labor markets: unions, discrimination,

2 Employment discrimination

Information, risk, and insurance

Introduction to information, risk, and insurance

1 The problem of imperfect information and asymmetric information

2 Insurance and imperfect information

Financial markets

Introduction to financial markets

1 How businesses raise financial capital

2 How households supply financial capital

3 How to accumulate personal wealth

Introduction to public economy

1 Voter participation and costs of elections

2 Special interest politics

3 Flaws in the democratic system of government

International trade

Introduction to international trade

1 Absolute and comparative advantage

2 What happens when a country has an absolute advantage in all goods

3 Intra-industry trade between similar economies

4 The benefits of reducing barriers to international trade

Globalization and protectionism

Introduction to globalization and protectionism

1 Protectionism: an indirect subsidy from consumers to producers

2 International trade and its effects on jobs, wages, and working conditions

3 Arguments in support of restricting imports

4 How trade policy is enacted: globally, regionally, and nationally

5 The tradeoffs of trade policy

Source: OpenStax, Principles of microeconomics for ap® courses. OpenStax CNX. Aug 24, 2015 Download for free at http://legacy.cnx.org/content/col11858/1.4

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