Atlas Concept Table for PPG1002 Microeconomics for Policy Analysis

… a resource page for PPG1002 Microeconomics for Policy Analysis

Core concepts on the Atlas for the Munk School’s course on microeconomics for policy analysis

The table below displays Atlas core concepts that may be pertinent to PPG1000, a required first-year course for MPP students in the University of Toronto’s Munk School of Global Affairs and Public Policy. The concepts have been selected by the Atlas editors on the basis of the 2019-20 course description at https://munkschool.utoronto.ca/publicpolicy/programs/master-of-public-policy-program/mpp-courses/, the 2017-18 student compilation of Top 50 Concept Readings for Toronto MPP Courses, and the detailed 2016-17 syllabus at Toronto PPG1002 Microeconomics for Policy Analysis. They are drawn from 7 Atlas topics in a single subject, Economic Analysis. See Atlas Concept Tables for Courses for methodology and links to other concept tables.

Atlas Concept Table for PPG1002
106 core concepts in microeconomics for policy analysis, organized by Atlas subject and topic

Economic Analysis

The Study of Economics

Behavioural Economics

Capitalism

Economic Efficiency

Economic Liberalism

Economic Model

Economics

Economics and Ideology

Econometrics

Incentives and Introduction to Economics

International Economics

Macroeconomics

Marginal and Marginalism

Market Failure

Microeconomics

Political Economy

Public Finance

Public Choice Theory

Socialism

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

Unintended Consequences

Utility

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

Externalities

Externality

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

Profit

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

Tying

Bundling

Monopoly Markup

Barriers to Entry

Monopoly

Patents

Market Power

Economies of Scale

Innovation

Static Efficiency

Dynamic Efficiency

Arbitrage

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: MIT OpenCourseward, Principles of Microeconomics, at https://ocw.mit.edu/courses/economics/14-01-principles-of-microeconomics-fall-2007/, accessed 3 December 2019.