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Unit 1

Basics of Economics

Introduction to Economics

Scarcity and Choice

Supply and Demand

Market Equilibrium

Consumer and Producer Surplus

Market Failures

Government Intervention in Markets

Microeconomics vs. Macroeconomics

GDP and Economic Growth

International Trade

Inflation and Unemployment

Globalization and its impacts

Elasticity of Demand and Supply

Introduction to Macroeconomics

Monetary Policy

Unit 2

Basics of Economics

Introduction to Economics

Scarcity and Choice

Supply and Demand

Elasticity of Demand and Supply

Consumer and Producer Surplus

Introduction to Macroeconomics

GDP and Economic Growth

Monetary Policy

Globalization and its impacts

Market Failures

Microeconomics vs. Macroeconomics

Government Intervention in Markets

International Trade

Market Equilibrium

Inflation and Unemployment

Unit 3

Basics of Economics

Introduction to Economics

Scarcity and Choice

Supply and Demand

Elasticity of Demand and Supply

Microeconomics vs. Macroeconomics

GDP and Economic Growth

International Trade

Globalization and its impacts

Government Intervention in Markets

Market Failures

Inflation and Unemployment

Market Equilibrium

Consumer and Producer Surplus

Introduction to Macroeconomics

Monetary Policy

Unit 4

Basics of Economics

Introduction to Economics

Supply and Demand

Market Equilibrium

Elasticity of Demand and Supply

Microeconomics vs. Macroeconomics

Introduction to Macroeconomics

Inflation and Unemployment

International Trade

Globalization and its impacts

Scarcity and Choice

GDP and Economic Growth

Market Failures

Government Intervention in Markets

Consumer and Producer Surplus

Monetary Policy

Unit 5

Basics of Economics

Supply and Demand

Market Equilibrium

Consumer and Producer Surplus

Market Failures

Government Intervention in Markets

Microeconomics vs. Macroeconomics

Introduction to Macroeconomics

GDP and Economic Growth

Monetary Policy

International Trade

Globalization and its impacts

Scarcity and Choice

Inflation and Unemployment

Introduction to Economics

Elasticity of Demand and Supply

Unit 4 • Chapter 5

Microeconomics vs. Macroeconomics

Key Insights

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Concept Check

Which studies aggregate economic behavior?

Macroeconomics does.

Microeconomics does.

Both do equally.

Neither does.

What analyzes individual market decisions?

Microeconomics does.

Macroeconomics does.

Both study this.

Neither studies this.

Which examines inflation's impact on the economy?

Macroeconomics does.

Microeconomics does.

Neither studies this.

Both study this.

What analyzes a firm's pricing strategies?

Both do equally.

Macroeconomics does.

Neither does.

Microeconomics does.

Which studies unemployment rates?

Macroeconomics does.

Neither studies this.

Microeconomics does.

Both study this.

Elasticity of Demand and Supply

Introduction to Macroeconomics