Principles of economics

The first part: Microeconomics: the concept of economics and the economic problem and its relationship to production possibilities and the production possibilities curve. The difference between microeconomics and macroeconomics, value theory, the concept of supply and demand, market equilibrium, utility theory and theories explaining consumer behavior. Product behavior theory, cost concept, types, product and market types. Part Two: Macroeconomics: What is the macroeconomy and its importance, and the circular flow model. Methods for measuring national product and local output. Economic cycles, inflation, employment and unemployment, consumption, savings, investment. Total demand and total width.