Economics 221Economics 221

Principles ofMicroeconomics

by R. Ramoo

Principles ofMicroeconomics

by R. Ramoo

Musical Interlude

Song: Supply and Demand (Economics)Album:WorldArtists:Teacher and the Rockbots

Each module contains a brief musical selection chosen for its economic theme.

ContentsContentsModule 1: Economic Decision Making and Marginal Module 1: Economic Decision Making and Marginal

Analysis (Chapter 1) Analysis (Chapter 1)

Module 2: Market Mechanism – Demand (Chapter 3)Module 2: Market Mechanism – Demand (Chapter 3)

Module 3: Market Mechanism – Supply (Chapter 3)Module 3: Market Mechanism – Supply (Chapter 3)

Module 4: Market Equilibrium (Chapter 3)Module 4: Market Equilibrium (Chapter 3)

Module 5: Economic Efficiency: Consumer Surplus, Module 5: Economic Efficiency: Consumer Surplus, Producer Surplus and Economic Surplus Producer Surplus and Economic Surplus (Chapter 4)(Chapter 4)

Module 6: Economic Efficiency and Government PriceModule 6: Economic Efficiency and Government Price Intervention (Chapter 4) Intervention (Chapter 4)

Module 7: Price Elasticity of Demand (Chapter 6)

Module 8: Analyzing the Economic Impact of Taxes (Chapter 6)

Module 9: Income Elasticity of Demand and Cross-price Elasticity of Demand (Chapter 6)

Module 10: Price Elasticity of Supply and Applications of the Elasticity Concepts (Chapter 6)

Module 11: The Utility-Maximizing Model (Chapter 9)

Module 12: Indifference Curves and Budget Constraints (Chapter 9, Appendix)

ContentsContents

ContentsContents

Module 13: The Short Run Production Function (Chapter 10)

Module 14: Costs in the Short Run (Chapter 10)

Module 15: Cost in the Long Run (Chapter 10)

You are listening to For A Few Dollars More, the theme song to the 1965 spaghetti Western of the same name. The film was directed by Sergio Leone and starred Clint Eastwood. The music was composed by Ennio Morricone.