Microeconomics

  1. Welfare Economics
    1. Measuring Economic Well-being
      1. Consumer Surplus
        1. Definition and Calculation
          1. Graphical Representation
            1. Changes in Consumer Surplus
            2. Producer Surplus
              1. Definition and Calculation
                1. Graphical Representation
                  1. Changes in Producer Surplus
                  2. Total Surplus
                    1. Sum of Consumer and Producer Surplus
                      1. Market Efficiency and Total Surplus
                    2. Market Efficiency
                      1. Evaluating Market Equilibrium
                        1. Efficiency of Competitive Markets
                          1. Pareto Efficiency
                          2. The Benevolent Social Planner
                            1. Maximizing Total Surplus
                              1. Optimal Allocation of Resources
                            2. The Costs of Taxation
                              1. Effects of Taxes on Market Participants
                                1. Changes in Consumer Surplus
                                  1. Changes in Producer Surplus
                                    1. Tax Revenue
                                    2. Deadweight Loss from Taxation
                                      1. Causes of Deadweight Loss
                                        1. Measurement of Deadweight Loss
                                          1. Factors Affecting Deadweight Loss Size
                                        2. International Trade
                                          1. Comparative Advantage
                                            1. Definition and Principle
                                              1. Absolute Advantage vs. Comparative Advantage
                                                1. Gains from Specialization
                                                2. Trade Without Restrictions
                                                  1. Gains from Trade
                                                    1. Winners and Losers from Trade
                                                      1. Effects on Consumer and Producer Surplus
                                                      2. Trade Restrictions
                                                        1. Tariffs
                                                          1. Effects on Domestic Market
                                                            1. Deadweight Loss from Tariffs
                                                            2. Import Quotas
                                                              1. Effects on Domestic Market
                                                                1. Comparison with Tariffs
                                                                2. Other Trade Barriers
                                                                3. Arguments for Trade Restrictions
                                                                  1. Economic Arguments
                                                                    1. Political Arguments
                                                                      1. Infant Industry Argument
                                                                        1. National Security Argument

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                                                                    8. Market Failures and Government Intervention

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                                                                    1. Introduction to Microeconomics