Introduction to Economics for Managers (ECON224) lecture notes. These notes cover the following topics in 10 weeks.
- Choice and resource allocation under scarcity
- Determinants of demand and demand elasticity
- Supply and the theory of the firm
- Equilibrium, consumer & producer surplus, taxes and subsidies
- Firm costs, revenue and profit
- Firms in competitive markets
- Monopoly
- Oligopoly and imperfect competitive markets
- Market failure, externalities and public goods
- The market for labour
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