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Unit 2 Microeconomics

2.1 Demand

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2.2 Supply

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2.3 Competitive market equilibrium

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2.4 Critique of the maximizing behaviour of consumers and producers

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2.5 Elasticities of demand

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2.6 Elasticity of supply

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2.7 Role of government in microeconomics

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2.8 Market failure - externalities and common pool or common access resources

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2.9 Market failure - public goods

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2.10 Market failure - asymmetric information

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2.11 Market failure - market power

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2.12 The market's inability to achieve equity

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Unit 2 Microeconomics