{"id":8549,"date":"2018-05-29T14:31:53","date_gmt":"2018-05-29T14:31:53","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/?post_type=chapter&#038;p=8549"},"modified":"2024-04-25T23:19:49","modified_gmt":"2024-04-25T23:19:49","slug":"course-contents-at-a-glance","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/course-contents-at-a-glance\/","title":{"raw":"Course Contents at a Glance","rendered":"Course Contents at a Glance"},"content":{"raw":"<img class=\"aligncenter wp-image-220\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29140552\/binoculars2.png\" alt=\"an icon of a pair of binoculars\" width=\"250\" height=\"142\" \/>\r\n\r\nThe following list shows the module-level topics for the course. To see all of the course pages, visit the\u00a0<a href=\"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/\">Table of Contents<\/a>.\r\n<h2>Module 1: Economic Thinking<\/h2>\r\n<div class=\"first column\">\r\n<ul>\r\n \t<li>Understanding Economics and Scarcity<\/li>\r\n \t<li>The Concept of Opportunity Cost<\/li>\r\n \t<li>Labor, Markets, and Trade<\/li>\r\n \t<li>Microeconomics and Macroeconomics<\/li>\r\n \t<li>Economic Models<\/li>\r\n \t<li>Purpose of Functions<\/li>\r\n \t<li>Solving Simple Equations<\/li>\r\n \t<li>Creating and Interpreting Graphs<\/li>\r\n \t<li>Interpreting Slope<\/li>\r\n \t<li>Types of Graphs<\/li>\r\n<\/ul>\r\n<h2>Module 2: Choice in a World of Scarcity<\/h2>\r\n<ul>\r\n \t<li>Budget Constraints and Choices<\/li>\r\n \t<li>Calculating Opportunity Cost<\/li>\r\n \t<li>The Production Possibilities Frontier<\/li>\r\n \t<li>Productive Efficiency and Allocative Efficiency<\/li>\r\n \t<li>Rationality and Self-Interest<\/li>\r\n \t<li>Marginal Analysis<\/li>\r\n \t<li>Positive and Normative Statements<\/li>\r\n<\/ul>\r\n<h2>Module 3: Supply and Demand<\/h2>\r\n<ul>\r\n \t<li>Economic Systems<\/li>\r\n \t<li>What Is Demand?<\/li>\r\n \t<li>Factors Affecting Demand<\/li>\r\n \t<li>What is Supply?<\/li>\r\n \t<li>Factors Affecting Supply<\/li>\r\n \t<li>Equilibrium, Surplus, and Shortage<\/li>\r\n \t<li>Changes in Equilibrium<\/li>\r\n \t<li>Finding Equilibrium<\/li>\r\n \t<li>Changes in Supply and Demand<\/li>\r\n<\/ul>\r\n<h2>Module 4: Applications of Supply and Demand<\/h2>\r\n<ul>\r\n \t<li>Price Ceilings<\/li>\r\n \t<li>Price Floors<\/li>\r\n \t<li>A Closer Look at Price Controls<\/li>\r\n \t<li>Trade and Efficiency<\/li>\r\n \t<li>Consumer &amp; Producer Surplus<\/li>\r\n \t<li>Inefficiency of Price Floors and Price Ceilings<\/li>\r\n \t<li>Labor and Financial Markets<\/li>\r\n<\/ul>\r\n<h2>Module 5: Elasticity<\/h2>\r\n<ul>\r\n \t<li>Elasticity of Demand<\/li>\r\n \t<li>Examples of Elastic and Inelastic Demand<\/li>\r\n \t<li>Calculating Elasticity and Percentage Changes<\/li>\r\n \t<li>Calculating Price Elasticities Using the Midpoint Formula<\/li>\r\n \t<li>Categories of Elasticity<\/li>\r\n \t<li>Price Elasticity of Supply<\/li>\r\n \t<li>Income Elasticity, Cross-Price Elasticity &amp; Other Types of Elasticities<\/li>\r\n \t<li>Elasticity and Total Revenue<\/li>\r\n \t<li>Elasticity, Costs, and Customers<\/li>\r\n \t<li>Tax Incidence<\/li>\r\n<\/ul>\r\n<h2>Module 6: Utility<\/h2>\r\n<ul>\r\n \t<li>Consumer Choice and Utility<\/li>\r\n \t<li>Marginal Utility versus Total Utility<\/li>\r\n \t<li>Rules for Maximizing Utility<\/li>\r\n \t<li>Income Changes and Consumption Choices<\/li>\r\n \t<li>The Foundations of the Demand Curve<\/li>\r\n \t<li>Indifference Curve Analysis<\/li>\r\n \t<li>Behavioral Economics: An Alternative Viewpoint<\/li>\r\n<\/ul>\r\n<h2>Module 7: Production and Costs<\/h2>\r\n<ul>\r\n \t<li>What is Production?<\/li>\r\n \t<li>The Production Function<\/li>\r\n \t<li>Costs and Profit<\/li>\r\n \t<li>Costs in the Short Run<\/li>\r\n \t<li>Average Costs and Curves<\/li>\r\n \t<li>Lessons From Alternative Measures of Cost<\/li>\r\n \t<li>Production in the Long Run<\/li>\r\n \t<li>Long Run Costs and Production Technology<\/li>\r\n \t<li>Economies of Scale<\/li>\r\n \t<li>The Size and Number of Firms in an Industry<\/li>\r\n<\/ul>\r\n<h2>Module 8: Perfect Competition<\/h2>\r\n<ul>\r\n \t<li>Perfect Competition<\/li>\r\n \t<li>Profit Maximization in a Perfectly Competitive Market<\/li>\r\n \t<li>Calculating Profits and Losses<\/li>\r\n \t<li>The Shutdown Point<\/li>\r\n \t<li>Entry and Exit Decisions in the Long Run<\/li>\r\n \t<li>Efficiency in Perfectly Competitive Markets<\/li>\r\n<\/ul>\r\n<h2>Module 9: Monopoly<\/h2>\r\n<ul>\r\n \t<li>Monopolies<\/li>\r\n \t<li>How Monopolies Form: Barriers to Entry<\/li>\r\n \t<li>Profit Maximization for a Monopoly<\/li>\r\n \t<li>Computing Monopoly Profits<\/li>\r\n \t<li>The Inefficiency of Monopoly<\/li>\r\n \t<li>Price Discrimination and Efficiency<\/li>\r\n \t<li>Corporate Mergers<\/li>\r\n \t<li>Regulating Anticompetitive Behavior<\/li>\r\n \t<li>Regulating Natural Monopolies<\/li>\r\n \t<li>The Great Deregulation Experiment<\/li>\r\n<\/ul>\r\n<h2>Module 10: Monopolistic Competition and Oligopoly<\/h2>\r\n<ul>\r\n \t<li>Monopolistic Competition<\/li>\r\n \t<li>Profit Maximization under Monopolistic Competition<\/li>\r\n \t<li>Entry, Exit and Profits in the Long Run<\/li>\r\n \t<li>Monopolistic Competition and Efficiency<\/li>\r\n \t<li>Product Differentiation and Advertising<\/li>\r\n \t<li>Why do Oligopolies Exist?<\/li>\r\n \t<li>Collusion or Competition?<\/li>\r\n \t<li>Prisoner's Dilemma<\/li>\r\n<\/ul>\r\n<h2>Module 11: Public Goods and Externalities<\/h2>\r\n<ul>\r\n \t<li>Externalities<\/li>\r\n \t<li>Public Goods<\/li>\r\n \t<li>Free Riders<\/li>\r\n \t<li>Positive Externalities and Technology<\/li>\r\n \t<li>Negative Externalities: Pollution<\/li>\r\n \t<li>Command-and-Control Regulation<\/li>\r\n \t<li>U.S. Environmental Laws<\/li>\r\n \t<li>How Governments Can Encourage Innovation<\/li>\r\n \t<li>Market-Oriented Environmental Tools<\/li>\r\n<\/ul>\r\n<h2>Module 12: Labor Markets<\/h2>\r\n<ul>\r\n \t<li>Labor Markets<\/li>\r\n \t<li>The Demand for Labor<\/li>\r\n \t<li>Labor Market Power by Employers<\/li>\r\n \t<li>Labor Market Power by Employees<\/li>\r\n \t<li>Employment Discrimination<\/li>\r\n \t<li>Immigration<\/li>\r\n<\/ul>\r\n<h2>Module 13: Income Distribution<\/h2>\r\n<ul>\r\n \t<li class=\"chapter standard\">How is Poverty Defined and How Widespread is it?<\/li>\r\n \t<li class=\"chapter standard\">The Poverty Trap<\/li>\r\n \t<li class=\"chapter standard\">The Safety Net<\/li>\r\n \t<li class=\"chapter standard\">Measuring Income Inequality<\/li>\r\n \t<li class=\"chapter standard\">Causes of Growing Inequality<\/li>\r\n \t<li class=\"chapter standard\">Government Policies to Reduce Income Inequality<\/li>\r\n<\/ul>\r\n<h2>Module 14: Globalization and Trade<\/h2>\r\n<ul>\r\n \t<li>Absolute and Comparative Advantage<\/li>\r\n \t<li>Comparative Advantage and the Gains from Trade<\/li>\r\n \t<li>Intra-Industry Trade<\/li>\r\n \t<li>Demand and Supply Analysis of International Trade<\/li>\r\n \t<li>Protectionism<\/li>\r\n \t<li>The Tradeoffs of International Trade<\/li>\r\n \t<li>The Role of the GATT in Reducing Barriers to Trade<\/li>\r\n \t<li>Trade Policy: Organizations and Agreements<\/li>\r\n<\/ul>\r\n<h2>Module 15: Exchange Rates and International Finance<\/h2>\r\n<ul>\r\n \t<li>The Foreign Exchange Market<\/li>\r\n \t<li>Strengthening and Weakening Currency<\/li>\r\n \t<li>Demand and Supply Shifts in Foreign Exchange Markets<\/li>\r\n \t<li>Macroeconomic Effects of Exchange Rates<\/li>\r\n \t<li>Exchange-Rate Policies<\/li>\r\n<\/ul>\r\n<\/div>","rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-220\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29140552\/binoculars2.png\" alt=\"an icon of a pair of binoculars\" width=\"250\" height=\"142\" \/><\/p>\n<p>The following list shows the module-level topics for the course. To see all of the course pages, visit the\u00a0<a href=\"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/\">Table of Contents<\/a>.<\/p>\n<h2>Module 1: Economic Thinking<\/h2>\n<div class=\"first column\">\n<ul>\n<li>Understanding Economics and Scarcity<\/li>\n<li>The Concept of Opportunity Cost<\/li>\n<li>Labor, Markets, and Trade<\/li>\n<li>Microeconomics and Macroeconomics<\/li>\n<li>Economic Models<\/li>\n<li>Purpose of Functions<\/li>\n<li>Solving Simple Equations<\/li>\n<li>Creating and Interpreting Graphs<\/li>\n<li>Interpreting Slope<\/li>\n<li>Types of Graphs<\/li>\n<\/ul>\n<h2>Module 2: Choice in a World of Scarcity<\/h2>\n<ul>\n<li>Budget Constraints and Choices<\/li>\n<li>Calculating Opportunity Cost<\/li>\n<li>The Production Possibilities Frontier<\/li>\n<li>Productive Efficiency and Allocative Efficiency<\/li>\n<li>Rationality and Self-Interest<\/li>\n<li>Marginal Analysis<\/li>\n<li>Positive and Normative Statements<\/li>\n<\/ul>\n<h2>Module 3: Supply and Demand<\/h2>\n<ul>\n<li>Economic Systems<\/li>\n<li>What Is Demand?<\/li>\n<li>Factors Affecting Demand<\/li>\n<li>What is Supply?<\/li>\n<li>Factors Affecting Supply<\/li>\n<li>Equilibrium, Surplus, and Shortage<\/li>\n<li>Changes in Equilibrium<\/li>\n<li>Finding Equilibrium<\/li>\n<li>Changes in Supply and Demand<\/li>\n<\/ul>\n<h2>Module 4: Applications of Supply and Demand<\/h2>\n<ul>\n<li>Price Ceilings<\/li>\n<li>Price Floors<\/li>\n<li>A Closer Look at Price Controls<\/li>\n<li>Trade and Efficiency<\/li>\n<li>Consumer &amp; Producer Surplus<\/li>\n<li>Inefficiency of Price Floors and Price Ceilings<\/li>\n<li>Labor and Financial Markets<\/li>\n<\/ul>\n<h2>Module 5: Elasticity<\/h2>\n<ul>\n<li>Elasticity of Demand<\/li>\n<li>Examples of Elastic and Inelastic Demand<\/li>\n<li>Calculating Elasticity and Percentage Changes<\/li>\n<li>Calculating Price Elasticities Using the Midpoint Formula<\/li>\n<li>Categories of Elasticity<\/li>\n<li>Price Elasticity of Supply<\/li>\n<li>Income Elasticity, Cross-Price Elasticity &amp; Other Types of Elasticities<\/li>\n<li>Elasticity and Total Revenue<\/li>\n<li>Elasticity, Costs, and Customers<\/li>\n<li>Tax Incidence<\/li>\n<\/ul>\n<h2>Module 6: Utility<\/h2>\n<ul>\n<li>Consumer Choice and Utility<\/li>\n<li>Marginal Utility versus Total Utility<\/li>\n<li>Rules for Maximizing Utility<\/li>\n<li>Income Changes and Consumption Choices<\/li>\n<li>The Foundations of the Demand Curve<\/li>\n<li>Indifference Curve Analysis<\/li>\n<li>Behavioral Economics: An Alternative Viewpoint<\/li>\n<\/ul>\n<h2>Module 7: Production and Costs<\/h2>\n<ul>\n<li>What is Production?<\/li>\n<li>The Production Function<\/li>\n<li>Costs and Profit<\/li>\n<li>Costs in the Short Run<\/li>\n<li>Average Costs and Curves<\/li>\n<li>Lessons From Alternative Measures of Cost<\/li>\n<li>Production in the Long Run<\/li>\n<li>Long Run Costs and Production Technology<\/li>\n<li>Economies of Scale<\/li>\n<li>The Size and Number of Firms in an Industry<\/li>\n<\/ul>\n<h2>Module 8: Perfect Competition<\/h2>\n<ul>\n<li>Perfect Competition<\/li>\n<li>Profit Maximization in a Perfectly Competitive Market<\/li>\n<li>Calculating Profits and Losses<\/li>\n<li>The Shutdown Point<\/li>\n<li>Entry and Exit Decisions in the Long Run<\/li>\n<li>Efficiency in Perfectly Competitive Markets<\/li>\n<\/ul>\n<h2>Module 9: Monopoly<\/h2>\n<ul>\n<li>Monopolies<\/li>\n<li>How Monopolies Form: Barriers to Entry<\/li>\n<li>Profit Maximization for a Monopoly<\/li>\n<li>Computing Monopoly Profits<\/li>\n<li>The Inefficiency of Monopoly<\/li>\n<li>Price Discrimination and Efficiency<\/li>\n<li>Corporate Mergers<\/li>\n<li>Regulating Anticompetitive Behavior<\/li>\n<li>Regulating Natural Monopolies<\/li>\n<li>The Great Deregulation Experiment<\/li>\n<\/ul>\n<h2>Module 10: Monopolistic Competition and Oligopoly<\/h2>\n<ul>\n<li>Monopolistic Competition<\/li>\n<li>Profit Maximization under Monopolistic Competition<\/li>\n<li>Entry, Exit and Profits in the Long Run<\/li>\n<li>Monopolistic Competition and Efficiency<\/li>\n<li>Product Differentiation and Advertising<\/li>\n<li>Why do Oligopolies Exist?<\/li>\n<li>Collusion or Competition?<\/li>\n<li>Prisoner&#8217;s Dilemma<\/li>\n<\/ul>\n<h2>Module 11: Public Goods and Externalities<\/h2>\n<ul>\n<li>Externalities<\/li>\n<li>Public Goods<\/li>\n<li>Free Riders<\/li>\n<li>Positive Externalities and Technology<\/li>\n<li>Negative Externalities: Pollution<\/li>\n<li>Command-and-Control Regulation<\/li>\n<li>U.S. Environmental Laws<\/li>\n<li>How Governments Can Encourage Innovation<\/li>\n<li>Market-Oriented Environmental Tools<\/li>\n<\/ul>\n<h2>Module 12: Labor Markets<\/h2>\n<ul>\n<li>Labor Markets<\/li>\n<li>The Demand for Labor<\/li>\n<li>Labor Market Power by Employers<\/li>\n<li>Labor Market Power by Employees<\/li>\n<li>Employment Discrimination<\/li>\n<li>Immigration<\/li>\n<\/ul>\n<h2>Module 13: Income Distribution<\/h2>\n<ul>\n<li class=\"chapter standard\">How is Poverty Defined and How Widespread is it?<\/li>\n<li class=\"chapter standard\">The Poverty Trap<\/li>\n<li class=\"chapter standard\">The Safety Net<\/li>\n<li class=\"chapter standard\">Measuring Income Inequality<\/li>\n<li class=\"chapter standard\">Causes of Growing Inequality<\/li>\n<li class=\"chapter standard\">Government Policies to Reduce Income Inequality<\/li>\n<\/ul>\n<h2>Module 14: Globalization and Trade<\/h2>\n<ul>\n<li>Absolute and Comparative Advantage<\/li>\n<li>Comparative Advantage and the Gains from Trade<\/li>\n<li>Intra-Industry Trade<\/li>\n<li>Demand and Supply Analysis of International Trade<\/li>\n<li>Protectionism<\/li>\n<li>The Tradeoffs of International Trade<\/li>\n<li>The Role of the GATT in Reducing Barriers to Trade<\/li>\n<li>Trade Policy: Organizations and Agreements<\/li>\n<\/ul>\n<h2>Module 15: Exchange Rates and International Finance<\/h2>\n<ul>\n<li>The Foreign Exchange Market<\/li>\n<li>Strengthening and Weakening Currency<\/li>\n<li>Demand and Supply Shifts in Foreign Exchange Markets<\/li>\n<li>Macroeconomic Effects of Exchange Rates<\/li>\n<li>Exchange-Rate Policies<\/li>\n<\/ul>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-8549\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Course Contents at a Glance. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Binoculars Icon. <strong>Authored by<\/strong>: Musmellow. <strong>Provided by<\/strong>: Noun Project. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/thenounproject.com\/term\/binoculars\/1234056\/\">https:\/\/thenounproject.com\/term\/binoculars\/1234056\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":29,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Binoculars Icon\",\"author\":\"Musmellow\",\"organization\":\"Noun Project\",\"url\":\"https:\/\/thenounproject.com\/term\/binoculars\/1234056\/\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Course Contents at a Glance\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-8549","chapter","type-chapter","status-publish","hentry"],"part":8546,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/users\/29"}],"version-history":[{"count":8,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8549\/revisions"}],"predecessor-version":[{"id":10296,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8549\/revisions\/10296"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/parts\/8546"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8549\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/media?parent=8549"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=8549"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/contributor?post=8549"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/license?post=8549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}