Subject(s): Economic issues and concepts -- market economy : Demand , supply and price, Elasticity of demand and supply, Price theory in action -- Consumer and producers : marginal utility theory, Indifference theory, Firms, cost and profit, Perfect competition, monopoly, Imperfect competition, Risk and uncertainty , Consumer and producer theory in action -- How income is earned : Income generation, Income of labour, capital , land and natural resources, Factor market theory in action -- Government in the economy: market success and market failure, Government success and failure -- Modelling the economy as a whole : Macroeconomic issues and measurement, basic model of the determination of GDP, GDP in ana open economy with government,GDP and the price level in the short run and Long run -- macro policy in monetary economy: Money and monetary institutions, Role of money in macroeconomics, Monetary and fiscal policy and the business cycle, Balance of payment and exchange rates, Macroeconomic policy in an open economy -- Global economic issues : inflation, employment and unemployment, Economic growth, growth in developing countries, International trade, Global macroeconomics in action -- Cyclical unemployment , Global commercial policy, Japan in the late 1990s: liquidity trap revived , Stabilization policy in the euro zero, UK minimum wage, Asian crisis, Global village