Theme 1

Introductory Concepts

Positive & Normative

The Economic Problem

Opportunity Cost

PPFs

Further Resources:

PPF video , Essays and Articles

Specialisation & Division of Labour

Also includes topics of Money & Types of Economy

Further Resources:

• The first half of this video outlines Adam Smith's work on these topics

Demand

Includes Consumer Surplus

Further Resources:

• Video about the Demand Curve

Supply

Includes Producer Surplus

Further Resources:

Market Equilibrium

Further Resources:

Elasticities

Further Resources: BBC Article on YED

Indirect Tax/Subsidy

Further Resources: Essays and articles

Public Goods

Further Resources: Essays and articles

Externalities

Further Resources: Essays and articles

Information Gaps

Further Resources: Essays and articles

Government Intervention

Further Resources: Essays and articles