Types and sizes of firms and business objectives. Chapters 1,2 and 3

Costs, Revenue, Profits and Losses, Economies and diseconomies of scale- Chapters 4-7

Efficiency, Concentration Ratio, Contestability, Perfect Competition, Monopolistic Competition, Monopoly, Monopsony, Oligopoly. Chapters 8- 14

Government Intervention and Market Failure

Demand, supply and market for labour

Globalisation- characteristics, causes and effects- Chapters 21 and 22

Specialisation and comparative advantage, patterns and volume of trade, terms of trade, trade liberalisation and trading blocs, restrictions on trade

Public Expenditure, Taxation, Public Sector Debt and Financing, Role of the state in the macroeconomy

Balance of payments, exchange rates, international competitiveness

Poverty and Inequality

Measures of economic development, constraints on growth and development, measures to promote growth and development