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OAU NOTES
Faculty of Social Sciences
Department of Economics
200 Level
First Semester
ECN201
ECN201
Curriculum
3 Sections
25 Lessons
10 Weeks
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INTRODUCTION
4
2.1
THE PROBEMS OF ECONOMIC THEORY
2.2
THE NATURE OF ECONOMIC THEORY
2.3
ECONOMIC MODELS
2.4
COMMON FALLACIES IN ECONOMICS
THEORY OF DEMAND AND SUPPLY
17
3.1
Elementary theory of Price Determination
3.2
Demand Function
3.3
The Market Demand
3.4
Elementary Theory of Supply
3.5
The Supply Function
3.6
Quantity supplied and price
3.7
Shifts in the supply curve
3.8
Market Equilibrium
3.9
PRICE ELASTICITY OF DEMAND
3.10
The Arc Elasticity of Demand
3.11
The Nature of Demand Curves and Elasticities
3.12
Types of Price Elasticity of Demand
3.13
Price Elasticity and Marginal Revenue
3.14
Price Elasticity and Total Revenue
3.15
Price elasticity and consumer Expenditure
3.16
Other Forms of Elasticity
3.17
Elasticity of Supply
THEORY OF CONSUMER BEHAVIOUR
4
4.1
Theory of Consumer Behaviour
4.2
Cardinal Utility Theory
4.3
Equilibrium of the Consumer
4.4
Derivation of Demand curve
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