Selected Concepts in Economic Analysis

… study materials for Week 7 of Atlas206 Internship Reading

microeconomicsConcept collection

The table below lists the concepts from the Atlas subject, Economic Analysis, that are most relevant to the subject, Internship Reading, and the Atlas course, Atlas206 Internship Reading.

The Atlas quiz for this concept collection can be found at Quiz 10 – Selected Concepts in Economic Analysis. All 15 quizzes for Atlas206 Internship Reading are available at Concept Quizzes for Atlas206 Internship Reading.

The Study of Economics

Behavioural Economics

Economic Efficiency

Economics and Ideology

Marginal and Marginalism

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

Unintended Consequences

Welfare Economics

Supply, Demand, and Equilibrium

Consumer Surplus

Demand Curve

Market Equilibrium

Producer Surplus

Supply Curve

Consumer Theory and Elasticity of Demand and Supply

Elasticity of Demand

Elasticity of Supply

Commodity Taxes and Subsidies

Benefit of a Subsidy – Economic vs. Legal Incidence

Burden of a Tax – Economic vs. Legal Incidence

Commodity Taxes


The Price System and Price Regulation

Price as Signal and Incentive

Price Ceilings

Price Floors

Why Do Governments Enact Price Controls?

Trade, Adjustment, and Protectionism

Comparative Advantage

Absolute Advantage

Division of Labour

Division of Knowledge

Pareto Efficiency



Command and Control Solutions vs. Taxes and Subsidies

Private Cost

External Cost

Social Cost

Private Benefit

External Benefit

Bystanders Surplus

Social Surplus

Efficient Equilibrium

Deadweight Loss

Transaction Costs

Producer Theory and Competition

Average Cost

Marginal Cost

Fixed Costs

Variable Costs

Sunk Costs

Production Possibility Frontier

Creative Destruction

Monopoly and Price Discrimination


Price Discrimination

Barriers to Entry

Market Power

Economies of Scale


Labour Markets, Transfers, and Personal Taxes

Human Capital

Human Capital and Signaling

Public Goods and Commons Problems

Public Good

Common Resource

Free Riding

Excludable Good

Non-excludable Good

Rival Good

Non-rival Good

Tragedy of the Commons

Asymmetric Information, Signaling, and Game Theory

Asymmetric Information

Moral Hazard


Adverse Selection

Recommended 3 hours of study for Week 9 of Atlas206 Internship Reading

Concept pages above.

Complete Quiz 10 – Selected Concepts in Economic Analysis.

Page created by: Ian Clark, last modified on 21 April 2017.

Image: Triple A Learning, at, accessed 1 April 2016.