Microeconomics

Diego Espinosa Rivera
Mind Map by Diego Espinosa Rivera, updated more than 1 year ago
Diego Espinosa Rivera
Created by Diego Espinosa Rivera over 3 years ago
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Description

A "throwback" to last semester's (August-December 2016) Economics class (Microeconomics) By Diego Espinosa & Isabel Villalobos

Resource summary

Microeconomics
1 Foundations
1.1 Ceteris Paribus
1.2 Scarcity
1.2.1 Opportunity cost
1.2.2 Factors of production
1.2.3 PPF
1.2.4 Growth
1.2.5 Capital and Consumer Goods
1.3 Allocation
1.4 Normative and Positive Economics
2 Demand
2.1 Law of demand
2.2 Price & Non- Price Determinants
2.3 Types of goods
3 Supply
3.1 Law of Supple
3.2 Vertical Supply
3.3 Changes in Supply
4 Elasticity
4.1 Price Elasticity of Demand (PED)
4.1.1 Differences in the Curve
4.1.2 PED Determinants
4.2 Cross Elasticity of Demand (XED)
4.3 Income Elasticity of Demand (YED)
4.4 Price Elasticity of Supply (PES)
5 Revenue
5.1 Total Revenue
5.2 Elasticity & Revenue
5.3 Commodities
6 Theory of firm
6.1 Short Run & Long Run
6.2 Cost Theory
6.2.1 Economic Cost
6.2.2 Marginal & Average Costs
6.3 Law of Diminishing Returns
6.3.1 Returns to Scale
6.3.2 Diseconomics of Scale
6.4 Revenues
6.4.1 Revenue Theory
6.4.2 Profit
6.4.2.1 Maximizing Profit
6.4.3 Shut-Down & Break-Even
6.5 Types of Market
6.5.1 Perfect Competition
6.5.2 Monopoly
6.5.3 Oligopoly
6.5.4 Monopolistic Competiton
6.6 Efficiency
6.6.1 Allocative Efficiency
6.6.2 Productive Efficiency
6.7 Prisoner’s Dilemma
6.8 Market Failure
6.8.1 Externalities
6.8.1.1 Negative Externalities of Production
6.8.1.2 Positive Externalities of Production
6.8.1.3 Negative Externalities of Consumption
6.8.1.4 Price Externalities of Consumption
7 Market Equilibrium
7.1 Efficiency in Competitive Market
7.2 Consumer & Producer Surplus
7.3 Allocative Efficiency
8 Government intervention
8.1 Taxation
8.1.1 Direct Taxes
8.1.2 Indirect Taxes
8.1.2.1 Specific Tax
8.1.2.2 Percentage Tax (Ad Valrem)
8.2 Subsidies
8.2.1 Outcomes
8.3 Welfare Loss (Dead Weight Loss)
8.4 Price Controls
8.4.1 Price Floors
8.4.2 Price Ceilings
8.4.3 Inefficiency
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