User:Scowalt/Books/ECON102

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ECON102[edit]

Spring 2014 UIUC[edit]

Week 1 - Main Economic Principles
Gains from trade
Opportunity cost
Week 2 - The PPF and Trade
Scarcity
Production–possibility frontier
Diminishing returns
Week 3 - Supply and Demand-Part I
Supply and demand
Substitute good
Complementary good
Income elasticity of demand
Inferior good
Normal good
Law of demand
Demand curve
Week 4 - Supply and Demand - Part II
Economic equilibrium
Week 6 - Market Efficiency and Government Intervention
Economic surplus
Price ceiling
Price floor
Week 7 - Elasticities
Price elasticity of demand
Price elasticity of supply
Cross elasticity of demand
Week 8 - Production and Costs
Cost curve
Fixed cost
Marginal cost
Variable cost
Economies of scale
Average cost
Marginal product
Week 11 - Competitive Output
Total revenue
Marginal revenue
Profit maximization
Perfect competition
Week 12 - Monopoly
Monopoly
Monopolistic competition
Price discrimination
Week 13 - Game Theory
Oligopoly
OPEC
Kinked demand
Sherman Antitrust Act
Week 15 - Public Goods and Externalities
Public good
Free rider problem
Club good
Externality