Microeconomics III (1^st Year)

Date: 2024

ISBN: 978-1-9256310-2-9

Format: A4, 2-page, Laminated Card

Description

The aim of this Student Guide Card is to provide first year students with an outline of the basic concepts and principles of Microeconomics III. In particular, the topics discussed in this title include: (i) income redistribution; (ii) school of thoughts on income redistribution; (iii) how can a government redistribute income; (iv) externalities; (v) the Coase theorem; (vi) public goods; (vii) the ‘free rider’ problem; (viii) the ‘tragedy of the commons’; (ix) international trade; (x) the basis of trade; (xi) the gains of trade; (xii) Where do the gains from trade arise from?; (xiii) terms of trade; (xiv) World price; (xv) trade restrictions; (xvi) arguments for trade restrictions; and (xvii) arguments against trade restrictions.