ECON1001 Introductory Microeconomics Notes

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  • UniversityUniversity of Sydney
  • AreaBusiness and commerce
  • CourseIntroductory Microeconomics - ECON1001
  • Course CodeECON1001
3 Purchases
91%Verified Grade
  • Authorthe_a_guru
  • Created2016
  • Pages90
  • Approved16 November 2017

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Daniel Markos Bond University

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Tommy Hendrick University of Sydney

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Nick Cundy

Nick Cundy University of Adelaide

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About these notes

These are clear Introductory Microeconomics Notes that summarise the course content and display the key diagrams. They are 90 pages of very concise notes to help you dominate your Introductory Microeconomics Exam.

I scored a 91% in this subject and these notes were the catalyst.

 

The major topics covered in these notes include:

  • What Is Economics??
  • Scarcity And Opportunity Cost
  • Marginal Analysis
  • Ceteris Paribus
  • Correlation And Causation
  • The Gains From Trade
  • Gains From Specialisation
  • The Production Possibility Frontier (PPF)
  • The Shape Of The PPF
  • Opportunity Cost And The Slope Of The PPF
  • Background
  • Benefit And Willingness To Pay
  • Total Benefit And Marginal Benefit
  • A Typical Marginal Benefit Curve
  • Individual Demand
  • Relationship Between Individual Demand And MB
  • Law Of Demand
  • Determinants Of Demand
  • Market Demand
  • The Short Run And The Long Run
  • Competitive Markets
  • Market Equilibrium
  • We Now Will Look At Four Different Types Of Markets In Turn
  • Firm Supply In The Short Run: The Shut-Down Decision
  • Monopoly
  • Monopolistic Competition
  • Price Regulation
  • Market Failure
  • Externality
  • Welfare Effects Of International Trade

 

About the author: This is one of Nexus Notes most promising up and coming authors at the University of Sydney. After finishing HSC with an ATAR of 99.60, they began a double degree at Sydney studying a Bachelor of Economics and a Bachelor of Laws. This student has a Distinction WAM and has travelled internationally for Consulting Case Competitions. They were recently employed to undertake an internship by a top tier management consulting firm.

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