Microeconomics

  1. The Theory of the Firm: Production and Costs
    1. The Firm's Objective
      1. Profit Maximization
        1. Definition of Economic Profit
          1. Accounting Profit vs. Economic Profit
          2. Short-Run vs. Long-Run Objectives
          3. Production Theory
            1. The Production Function
              1. Inputs and Outputs
                1. Mathematical Representation
                  1. Single-Input Production Function
                  2. Inputs
                    1. Labor
                      1. Capital
                        1. Land
                          1. Raw Materials
                          2. Short-Run vs. Long-Run Production
                            1. Fixed Inputs
                              1. Variable Inputs
                                1. Time Periods in Economics
                                2. Total Product
                                  1. Definition and Measurement
                                  2. Marginal Product
                                    1. Definition and Calculation
                                      1. Marginal Product of Labor
                                        1. Marginal Product of Capital
                                        2. Average Product
                                          1. Definition and Calculation
                                            1. Relationship to Marginal Product
                                            2. The Law of Diminishing Returns
                                              1. Statement of the Law
                                                1. Stages of Production
                                                  1. Assumptions and Limitations
                                                2. Cost Theory
                                                  1. Economic Costs vs. Accounting Costs
                                                    1. Explicit vs. Implicit Costs
                                                      1. Explicit Costs
                                                        1. Implicit Costs
                                                          1. Opportunity Cost of Capital
                                                        2. Short-Run Costs
                                                          1. Fixed Costs
                                                            1. Definition and Examples
                                                              1. Total Fixed Cost
                                                              2. Variable Costs
                                                                1. Definition and Examples
                                                                  1. Total Variable Cost
                                                                  2. Total Cost
                                                                    1. Relationship to Fixed and Variable Costs
                                                                    2. Average Costs
                                                                      1. Average Fixed Cost
                                                                        1. Average Variable Cost
                                                                          1. Average Total Cost
                                                                          2. Marginal Cost
                                                                            1. Definition and Calculation
                                                                              1. Relationship to Variable Cost
                                                                              2. Relationships Between Cost Curves
                                                                                1. MC and ATC Relationship
                                                                                  1. MC and AVC Relationship
                                                                                    1. Shape of Cost Curves
                                                                                  2. Long-Run Costs
                                                                                    1. The Long-Run Average Total Cost Curve
                                                                                      1. Construction and Interpretation
                                                                                        1. Envelope Curve
                                                                                        2. Returns to Scale
                                                                                          1. Economies of Scale
                                                                                            1. Internal Economies
                                                                                              1. External Economies
                                                                                              2. Diseconomies of Scale
                                                                                                1. Internal Diseconomies
                                                                                                  1. External Diseconomies
                                                                                                  2. Constant Returns to Scale
                                                                                                  3. Minimum Efficient Scale

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                                                                                                4. Consumer Choice Theory

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                                                                                                6. Market Structures