Atlas Concept Table for ADMN509 Microeconomics for Policy Analysis

… a resource page for ADMN509 Microeconomics for Policy Analysis

Core concepts on the Atlas for the School of Public Administration’s course on microeconomics for policy analysis

The table below displays Atlas core concepts that may be pertinent to ADMN509, a first-year required course in the MPA program at the University of Victoria, School of Public Administration. The concepts have been selected by the Atlas editors on the basis of the calendar description at They are drawn from 7 Atlas topics in a single subject, Economic Analysis. In this first draft, the selected topics have been replicated from that of the University of Toronto course with the identical name at Atlas Concept Table for PPG1002 Microeconomics for Policy Analysis. See Atlas Concept Tables for Courses for methodology and links to other concept tables.

Atlas Concept Table for ADMN509
106 core concepts in microeconomics for policy analysis, organized by Atlas subject and topic

Economic Analysis

The Study of Economics

Behavioural Economics


Economic Efficiency

Economic Liberalism

Economic Model


Economics and Ideology


Incentives and Introduction to Economics

International Economics


Marginal and Marginalism

Market Failure


Political Economy

Public Finance

Public Choice Theory


There Ain’t No Such Thing As A Free Lunch – TANSTAAFL

Unintended Consequences


Utility Function

Welfare Economics

Supply, Demand, and Equilibrium

Change in Demand vs. Change in Quantity Demanded

Change in Supply vs. Change in Quantity Supplied

Consumer Surplus

Demand Curve

Demand Curve Shifts

Gains from Trade

Market Equilibrium

Normal Good vs. Inferior Good

Producer Surplus

Supply Curve

Supply Curve Shifts

Consumer Theory and Elasticity of Demand and Supply

Elasticity of Demand

Elasticity of Demand and Total Revenue

Elasticity of Supply

Midpoint Formula for Elasticity

Economic Analysis



Command and Control Solutions vs. Taxes and Subsidies

Coase Theorem

Tradable Allowances

Private Cost

External Cost

Social Cost

Private Benefit

External Benefit

Private Benefit

Social Surplus

Bystanders Surplus

Efficient Equilibrium

Deadweight Loss

Pigouvian Tax

Pigouvian Subsidy

Transaction Costs

Producer Theory and Competition

Maximizing Profit under Competition

Entry, Exit, and Sunk Costs

Increasing Cost Industries

Constant Cost Industries

Industry Clusters and Decreasing Cost Industries

Minimization of Total Industry Costs of Production

Balance of Industries and Creative Destruction

Producer Theory

Producer Theory Calculus

Average Cost

Marginal Cost

Total Cost

Fixed Costs

Variable Costs

Total Revenue


Sunk Costs

Break-even Price

Normal Profit

Above-normal Profit

Perfect Competition

Production Possibility Frontier

Marginal Revenue

Creative Destruction

Economic Analysis

Monopoly and Price Discrimination

Maximizing Profit under Monopoly

Monopoly Pricing and Elasticity of Demand

Costs and Benefits of Monopoly

Price Discrimination



Monopoly Markup

Barriers to Entry



Market Power

Economies of Scale


Static Efficiency

Dynamic Efficiency


Perfect Price Discrimination

Public Goods and Commons Problems

Public Good

Club Good

Common Resource

Free Riding

Forced Rider

Excludable Good

Non-excludable Good

Rival Good

Non-rival Good

Tragedy of the Commons

Page created by: Ian Clark, last modified 4 December 2019.

Image: In This Together, Difference Between Micro And Macro Economics – Part 3, at, accessed 4 December 2019.