An overview of Economics can be found in this document. Everything from international trade to macroeconomics and microeconomics. This booklet is essential, particularly before an exam to help you review important details.
Section 4: Production and Costs
- Production Function
- Types of Costs (Fixed Costs, Variable Costs, Total Costs)
- Short-Run and Long-Run Costs
- Economies of Scale
, Chapter 3: Macroeconomics
Section 1: National Income Accounting
- Gross Domestic Product (GDP)
- Components of GDP (Consumption, Investment, Government Spending, Net
Exports)
- GDP vs. GNP
Section 2: Aggregate Demand and Aggregate Supply
- Determinants of Aggregate Demand and Supply
- Equilibrium Output and Price Level
Section 3: Fiscal Policy
- Government Expenditure
- Taxation
- Budget Deficits and Surpluses
- Fiscal Policy Tools (Expansionary and Contractionary)
Section 4: Monetary Policy
- Money Supply
- Interest Rates
- Central Bank Operations
- Tools of Monetary Policy (Open Market Operations, Reserve Requirements,
Discount Rate)
Chapter 4: International Economics
Section 1: International Trade
- Absolute and Comparative Advantage
- Terms of Trade
- Trade Barriers (Tariffs, Quotas, Embargoes)
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