Gordon Fletcher's Economics and Mathematics Resources
Providing support, study resources and revision materials on Economics and Mathematics.
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Providing support, study resources and revision materials on Economics and Mathematics.
Featured resources
CIE IGCSE Mathematics - Sequences and Series.
Study guide containing notes,formulas and practice questions regarding mathematical topic of sequences and series (arithmetic,geometric,quadratic and cubic).
2. Principles of Microeconomics - Demand and Supply
Study resource on Microeconomics that will help provide an understanding of the concepts of demand and supply, the determinants of demand and supply and the interaction of demand and supply.
3. Different Types of Demand and Supply
Study resource on Microeconomics that will help provide an understanding of the different types of demand and supply, and how changes s in one market are likely to affect other markets.
This resource covers joint demand, competitive demand, composite demand, derived demand, joint supply and competitive supply.
6. Market Failure – Externalities
The first in a series of study resources on Microeconomics that will help provide an understanding of market failure and it’s causes.
This resource takes a look at externalities and covers:
Costs and benefits (private, external, social, etc.)
Negative production externalities
Negative consumption externalities
Positive production externalities
Positive consumption externalities
8. Market Failure - Monopoly Power
The third in a series of study resources on Microeconomics that will help provide an understanding of market failure and it’s causes.
This resource takes a look how the abuse of power by monopolist firms, and their decisions to increase price and restrict output results in a misallocation of society’s scarce resources.
Why governments should regulate monopolies
Government intervention and regulation of monopolies
1. Principles of Microeconomics - Introduction
A introduction to Microeconomics that will help establish a general understanding of basic microeconomic concepts.
This document explores topics such as scarcity, choice, opportunity cost, the production possibility curve and economic systems (planned, free-market and mixed).
4. Elasticity
Study resource on Microeconomic principles that will help provide an understanding of elasticity - a measure of the responsiveness of an economic variable in response to a change in another economic variable.
This resource covers:
Price elasticity of demand (PED)
Relationship between PED and total revenue
Income elasticity of demand (YED)
Cross elasticity of demand (XED)
Price elasticity of supply (PES)
Applications and uses of the different kinds of elasticity
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Set 1 - Principles of Demand and Supply
A compilation of Microeconomic study resources that focus on principles relating to the market forces of demand and supply.
It covers:
Demand and Supply
Demand
Law of demand
Determinants of demand
Changes in demand
Supply
Law of supply
Determinants of supply
Changes in supply
Interaction of demand and supply (equilibrium)
Different Types of Demand and Supply
Joint demand
Competitive demand
Composite demand
Derived demand
Joint supply
Competitive supply
** Elasticity**
Price elasticity of demand (PED)
Relationship between PED and total revenue
Income elasticity of demand (YED)
Cross elasticity of demand (XED)
Price elasticity of supply (PES)
Applications and uses of the different kinds of elasticity
Consumer and Producer Surplus
Consumer surplus
Price changes and consumer surplus
Producer surplus
Price changes and consumer surplus
13. Taxes and Subsidies
The third in a series of study resources on Microeconomics that looks at how governments can intervene in the free market in order to change free market outcomes, mostly for the better (e.g. maximizing social welfare).
This study resource takes a look at taxes and subsidies, and how governments employ their usage to influence market outcomes, e.g., the prices of goods and services. It covers:
Tax (Purpose and effects)
Types of tax (direct and indirect)
Tax revenue diagram
Incidence of tax
Subsidies (Purpose and effects)
Subsidy expenditure diagram
Incidence of subsidy
11. Price Controls
The first in a series of study resources on Microeconomics that looks at how governments can intervene in the free market in order to change free market outcomes, mostly for the better (e.g. maximizing social welfare).
This study resource takes a look at price controls and how they are enforced by governments to regulate the prices of goods and services in the market. It covers:
Maximum prices and their effects on the free market
Minimum prices and their effects on the free market
14. Property Rights & Pollution Permits
The fourth in a series of study resources on Microeconomics that looks at how governments can intervene in the free market in order to change free market outcomes, mostly for the better (e.g. maximizing social welfare).
This study resource takes a look at property rights and pollution permits and how governments use these policies as tools to correct market failure.
16. Government Failure
This study resource takes a look at government failure; how microeconomic intervention by the government to resolve market failure can result in an even greater net loss of economic welfare, as well as the causes and effects of government failure such as:
Imperfect information
Undesirable incentives
Policy conflict
Excessive administration costs
Unintended consequences
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Set 2 - Market Failure
A compilation of Microeconomic study resources that focus on market failure and its causes. It covers.
Externalities
Costs and benefits (private, external, social, etc.)
Negative production externalities
Negative consumption externalities
Positive production externalities
Positive consumption externalities
Types of Goods
Free goods
Economic goods
Public goods
Private goods
Merit goods
Demerit goods
Monopoly Power
How abuse of monopoly power results in market failure
Why governments should regulate monopolies
Government intervention and regulation of monopolies
Inequality
Inequality and why it persists in the free market
Measures of inequality
Government intervention: methods to reduce income and wealth inequality.
Information Failure
Causes of information failure
Asymmetric information (Adverse selection and moral hazard)
Methods to resolve information failure
Behavioral insights and nudge theory
15. Direct Government Provision
The fifth in a series of study resources on Microeconomics that looks at how governments can intervene in the free market in order to change free market outcomes, mostly for the better (e.g. maximizing social welfare).
This study resource takes a look at the direct provision of goods and services by the government, as well as how certain externalities can be resolved if essential goods and services are provided and regulated by the state. It covers:
Direct government provision (Arguments for and against)
Regulations (Types and their effects)
7. Market Failure - Types of Goods
The second in a series of study resources on Microeconomics that will help provide an understanding of market failure and it’s causes.
This resource takes a look at the various kinds of goods, their nature and how their existence results in some form of market failure. It covers
Free goods
Economic goods
Public goods
Private goods
Merit goods
Demerit goods
9. Market Failure - Inequality
The fourth in a series of study resources on Microeconomics that will provide an understanding on market failure and it’s causes.
This study resource takes a look at inequality in the distribution of income and wealth in the free market as a cause of market failure. This study resource covers:
Inequality and why it persists in the free market
Measures of inequality
Government intervention: methods to reduce income and wealth inequality.
12. Buffer Stocks
The second in a series of study resources on Microeconomics that looks at how governments can intervene in the free market in order to change free market outcomes, mostly for the better (e.g. maximizing social welfare).
This study resource takes a look at buffer stocks, and how they are implemented by governments in order to guard against any unplanned shortages, as well as stabilize prices in an entire economy or an individual market.