Manual “Economic Theory” is addressed to college and university undergraduates majored in economics and management. It covers main aspects of econo mics starting from rational behavior of consumer, fi rm effi ciency and ending with macroeconomic well-being, economic growth as well as foreign trade and foreign exchange policies.
Manual contains a comprehensive content, bibliography and recommended reading list at the end of each topic. Readers will fi nd syllabus, learning program and assessment criteria.
Every single topic is supported with lecture and seminar questions and relevant vocabulary. Students will fi nd examples of solved problems and cases. The manual presents plenty of learning material for individual and independent studying. For the purpose of convenience, the majority of tasks involve usage of Internet recourses, such as web sites of International Monetary Fund, Federal Reserve Bank, Central banks, Organization of Petroleum Exporting Countries, Ministry of Finance of Ukraine, National Statistical Office.
The manual ends with the description of evaluation criteria, test samples, examination problems and questions accompanied by variants of achievement test.
This manual could be recommended for students, young economists and everyone who is willing to develop or bring up to date their knowledge and skills in foundations of economics.
CHAPTER 1. BASIC CONCEPTS OF ECONOMICS
- Topic 1. Subject and functions of economics. The Infi nity of needs and scarcity of resources
- Topic 2. The choice and opportunity cost. Production and its effectiveness
- Topic 3. Economic systems. Circulation of economic activity
CHAPTER 2. ECONOMICS OF HOUSEHOLD AND ENTERPRISE
- Topic 4. Economic behavior of consumers
- Topic 5. Supply and demand and their interaction
- Topic 6. Production costs and profit
- Topic 7. Entrepreneurship and Enterprise
- Topic 8. Competition. Types of market structures
- Topic 9. Types of markets. Income and its distribution
- Topic 10. Market Infrastructure
- Topic 11. Money and banks. The role of government in a market economy
CHAPTER 3. THE NATIONAL ECONOMY
- Topic 12. Results of national production
- Topic 13. Aggregate demand and aggregate supply. Macroeconomic equilibrium
- Topic 14. Employment and unemployment
- Topic 15. Infl ation
CHAPTER 4. INTERNATIONAL ECONOMICS
- Topic 16. International market and trade policies
- Topic 17. Open economy