Microeconomics

1. Economic Agents
   1. Consumers
      1. Preferences and Utility
         1. Understanding Preferences
            1. Completeness
            2. Transitivity
            3. Non-Satiation
         2. Utility Functions
            1. Cardinal Utility
            2. Ordinal Utility
            3. Utility Maximization
         3. Importance of Marginal Utility
      2. Budget Constraints
         1. Budget Line Concept
            1. Slope of the Budget Line
            2. Shifts in the Budget Line
         2. Income and Substitution Effects
         3. Engle Curves
      3. Indifference Curves
         1. Characteristics of Indifference Curves
            1. Downward Slope
            2. Convex to Origin
            3. Higher Curves Represent Higher Utility
         2. Indifference Map
         3. Marginal Rate of Substitution
      4. Consumer Optimization
         1. Utility Maximization under Budget Constraint
         2. Lagrangian Multiplier Method
         3. Consumer Equilibrium
         4. Price Consumption and Income Consumption Curves
   2. Firms
      1. Production Functions
         1. Types of Production Functions
            1. Linear
            2. Cobb-Douglas
            3. Leontief
         2. Isoquants
            1. Shape and Properties of Isoquants
            2. Marginal Rate of Technical Substitution
         3. Returns to Scale
      2. Profit Maximization
         1. Objective of Profit Maximization
         2. Total, Average, and Marginal Revenues
         3. Break-even Analysis
         4. Shutdown Point
      3. Cost Structures
         1. Short-run vs Long-run Costs
            1. Fixed Costs vs Variable Costs
            2. Short-run Cost Function Analysis
            3. Long-run Cost Curves and Economies of Scale
         2. Fixed and Variable Costs
            1. Total Cost Concept
            2. Cost Minimization Strategies
            3. Sunk Costs vs Recoverable Costs
   3. Workers
      1. Labor Supply and Demand
         1. Factors Affecting Labor Supply
            1. Substitution and Income Effects
            2. Preferences over Time and Leisure
         2. Analysis of Labor Demand
            1. Derived Demand Concept
            2. Factors Influencing Labor Demand
      2. Wage Determination
         1. Role of Market Forces in Wage Setting
         2. Influence of Labor Unions
         3. Role of Government Policies and Legislation
         4. Wage Differentials and Discrimination
      3. Labor Market Equilibrium
         1. Equilibrium Wage and Employment Level
         2. Impact of Minimum Wage Laws
         3. Monopsony in Labor Markets
         4. Labor Mobility and Adjustment Processes
   4. Government
      1. Regulation and Policy Impact
         1. Economic Rationale for Regulation
         2. Types of Economic Policies
            1. Fiscal Policy
            2. Monetary Policy
         3. Evaluation of Policy Impact
      2. Taxation and Subsidies
         1. Types of Taxes
            1. Direct Taxes
            2. Indirect Taxes
         2. Effects of Taxes on Consumption and Production
         3. Subsidies and Their Effects on Welfare
         4. Optimal Taxation Theory