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Transfer earnings and economic rent

The accelerator effect

The short run production function: total product, average product and marginal product

Government failure in microeconomic intervention

The short run production function

Total revenue and PED

Introduction to monetary policy

Why does the aggregate demand curve slope downwards?

Managed float exchange rates

Total revenue, average revenue and marginal revenue

Introduction to aggregate demand

The Consumer Price Index (CPI)

Indifference curves

Indicators of living standards and economic development

Budget lines and indifference curves

Application of indirect taxes to correct negative production externalities

The interconnectedness of problems: Inflation, BOP and the Internal and External Value of Money

Effectiveness of policy options to meet all macroeconomic objectives

Full employment and the natural rate of unemployment

The liquidity preference model

Marginal revenue product

Fixed exchange rates

Productive efficiency

Shifting the Production Possibilities Curve (PPC)

Actual vs potential economic growth

Introduction to fiscal policy

Existence of government failure in macroeconomic policies

Types of aid, the nature of dependency

Broad money vs narrow money

Government macro policy aims

The transmission mechanism of monetary policy

Sources of money in an open economy - credit creation

The impact of corruption and the importance of the legal framework in an economy

Total currency flow

External debt, the role of the IMF and World Bank

The Laffer Curve

The Phillips Curve - Inflation vs Unemployment

Injections and leakages approach to determining equilibrium income

Quantitative Easing

The aggregate expenditure function

Trade and investment, the role of MNCs and FDI

Sources of money in an open economy - government borrowing

The multiplier

Perfect Competition - Long run equilibrium to Short run supernormal profits

The quantity theory of money

Transfer earnings and economic rent

Costs and benefits of economic growth

Elasticities and their impact on revenue

Poverty trap analysis

Keynesians vs Monetarists

Aggregate expenditure and income determination