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A micro economics course designed to support understanding from scratch to A level standard.
An excellent training about Social Science
Learn Economics From Scratch – An A Level Support Course
“Learn Economics From Scratch is an ‘A’-Level support course. Within 4 hours we will teach you how to view the micro-economic world to approximately A-Level Standard. Taught by experts in the field (2.1 BA Hons Graduate with over 4 years industry experience) it aims to empower the individual student with abilities to understand the world of micro-economics. As part of a forthcoming Economics Series aiming to cover the entire Cambridge 2015 A-Level syllabus. By the end of this course you will understand and should be able to: Have an appreciation of purpose built print quality diagrams for the course. Appreciate insight into the inner workings of the theory of how firms operate in today’s business climate Appreciate detailed explanations of cost and revenue structures, directly transferable as real life skills into business. Learn Micro Economics in under 4 hours with over three hours of purpose created content. Define Economics, Understand Basic Economic Ideas, and Economic Structures with particular respect to Types of Economic Systems; Understand the History of Economic Systems, their Pros and Cons Understand Positive and Normative Economics, their definitions and uses. Understand Aspects and features of Money, its functions and characteristics; Understand UK Banking structures, and Liquidity Structures of Financial Mediums of Exchange. Appreciate aspects of the UK Financial System, How the UK Financial System Creates Money, the Bank Of England, Its Functions and Affect. Understand what constitutes Economic Efficiency and its component parts of Productive and Allocative Efficiency. Appreciate the Price system and theory of the firm including the Laws of Demand and Supply Understand the Assumptions made with respect to Demand and Supply. Appreciate Factors determining Demand and the Law of diminishing marginal utility. Understand Demand oddities such as Veblen and Giffen goods. Appreciate Income and Substitution Effects and the equi-marginal condition. Understand and appreciate the concept of Value and the Paradox of Value. Appreciate Types of Demand, its Sensitivity and responsiveness to Price (Price Elasticity of Demand) what affects this and the extreme forms it can take. Appreciate Cross price elasticity of demand – the way in which one competitive product mat affect the market conditions of another. Appreciate Income Elasticity of Demand – the way in which a change in income affects demand of a product. Understand and appreciate Pricing policies and planning – how to form a pricing strategy in business. Appreciate taxation impacts of elasticity; Appreciate Supply conditions and Supply notation. Appreciate factors affecting and the outcomes of changes in supply and Joint supply – where one products supply is governed by supply of another products Gain an appreciation of Price elasticity of supply and levels of elasticity of supply and its Determinants. Understand whats meant in economics by the Period of supply momentary, short and long run. Understand Supply and Demand notation and diagrams. Appreciate the price mechanism, Supply and Demand and its inevitable state of Equilibrium. Appreciate the impact on markets of Minimum Price Controls; Understand Indirect taxes, Incidence of taxation and methods of calculating tax yields. Understand Consumer and producer surplus and the impacts of these on the free market. Appreciate aspects of Free Market Failure the factors contributing to this and aspects of Market power; Appreciate aspects of Factor immobility, Inequality, Merit goods, Externalities, Instability, Information problems, Public goods, Market Instability and Information problems. Understand Coase theorem aka the compensation principle; Understand Governmental failure and Public choice theory; Appreciate Taxation and approaches of theory to handle market failures. Want to understand the mathematical implications of theory? As part of the course we will cover: Marginal, Average, and Total numbers and graphs of these. The law of diminishing returns / variable proportions; Costs, cost formulae and graphs of costs structures; Long run average costs curves; Internal economies of scale; Types of economies purchasing; Managerial; technical; financial; risk bearing; marketing. Internal diseconomies of scale; Minimum efficient scale; Returns to scale; Cost minimisation; External economies and diseconomies of scale how size implications can save you real money. Technology; Price and output decisions; The average condition; Type of profit; Short and long run production decisions. Pareto optimality and types of efficiency; Theory of second best (1956) Have you ever needed to understand what is meant by a particular market or business form? We will also be covering: Market form including Perfect competition its assumptions and representation in graphical form; Why are Perfectly Competitive Markets desirable from an economic perspective? Monopolistic competition and contestable markets; Monopolistic competition diagrams and explanation; Contestable markets; Barriers to entry; Mono”
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