1. Microeconomics
1.1. Economic systems
1.1.1. pure capitalism
1.1.2. command
1.1.3. traditional
1.1.4. communism
1.1.5. socialism
1.2. Usefulness of economics
1.2.1. scientific approach
1.2.2. rational choice
1.3. Economic Goals
1.3.1. economic effieciency
1.3.1.1. allocative efficiency
1.3.1.2. technical efficiency
1.3.1.3. full employment
1.3.2. economic growth
1.3.3. economic security
1.3.4. economic freedom
1.3.5. full employment
1.3.6. price stability level
1.4. Formulation of Private and Public Policy
1.5. Production Possibility Curve
1.6. Basics of Law and Demand
1.6.1. Law of Supply
1.6.2. Law of Demand
1.6.3. supply and demand curves
1.6.4. market equilibrium
1.6.5. shortage
1.6.6. surplus
1.7. Elasticities
1.7.1. Elastic
1.7.2. Inelastic
1.7.3. Unit elastic
1.8. Consumer Behavior
1.8.1. Utility Maximizing Rule
1.8.1.1. Law of Diminishing Marginal Utility
1.8.1.2. Law of Diminishing Marginal Return
1.9. Cost of Production
1.9.1. Economies of Scale
1.9.2. Diseconomies of scale
1.9.3. Profit Maximizing Rule
2. Definition
2.1. allocation of scarce resources
2.1.1. relative/absolute scarcity
2.1.2. shortage
2.2. ceteris paribus = all other things equal
2.2.1. Task
2.2.2. Prerequisites
2.3. production, distribution and consumption of goods
3. Macroeconomics
3.1. Philippine Economy
3.2. Issue of Unemployment
3.3. Inflation
3.4. Economic development and growth
3.5. Balance of trade
3.6. Business Cycles
4. Economizing problem
4.1. unlimited wants
4.2. limited resources
4.2.1. land
4.2.2. capital
4.2.3. labor
4.2.4. entrepreneurial talent