Economics for Students

Economics 4 Students is designed to help students at college and university or studying on their own. It offers a balance of learning experiences, including much interactive content, presented in an attractive way. It consists of 4 sections, Markets, Macro, Business and Global. The last three sections are available only with the full upgrade as an in-app purchase. The Markets section includes scarcity, opportunity cost, division of labour, positive and normative, diminishing returns, demand, supply, markets, market relationships, consumer surplus, indirect taxes, externalities, merit goods, the cobweb theorem, stable and unstable equilibrium, price controls and buffer stocks The Macro section covers growth, output gaps, inflation measurement, cost push and demand pull inflation, effects of inflation, unemployment – effects and types, the Phillips curve , classical and Keynesian unemployment, interest rate determination and its effects, macro equilibrium, circular flow of income, role of the central bank, demand management, and stabilisation policy. The Business section covers ownership and control, integration, financial objectives, marginal revenue product, demand elasticity, unitary elasticity, cross elasticity, total cost, average cost, cost plus pricing, the short and the long run, discounted cash flow (DCF) analysis, economies of scale, perfect competition, monopolistic competition, oligopoly, collusion, game theory, monopoly, discriminating monopoly, monopsony, contestability, barriers to entry, wage determination, minimum wage, transfer earnings, privatisation. The Global section covers globalisation, comparative advantage, terms of trade, trading blocks, free trade, protectionism, European Union, balance of payment structure, balance of payments imbalances, fixed and floating exchange rates, poverty its measurement and impact. The writer of the app taught Economics and Business for over 30 years.