Core Concepts in Economics: Extensions of Fundamentals

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Comparative Advantage


Market Failure (Public Goods, Externalities, Information Asymmetry)


General vs. Partial Equilibrium


Market Structure (Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition)


Principal-Agent Problems


Moral Hazard and Adverse Selection


Behavioral Biases (Prospect Theory, Loss Aversion, Hyperbolic Discounting)


Labor-Leisure Tradeoff


Fiscal and Monetary Policy (and their transmission mechanisms)


Inflation, Unemployment, Growth (Macroeconomic indicators)


The Business Cycle


General Welfare Economics (Pareto Efficiency, Kaldor-Hicks Efficiency)


Returns to Scale (Increasing, Decreasing, Constant)


Rent Seeking


Choice Architecture


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