SSS 2 Economics

This first-term course introduces fundamental microeconomic concepts, focusing on consumer behavior, market dynamics (demand and supply), elasticity, and government interventions. It emphasizes quantitative analysis through statistical tools and practical application of economic theories to real-world scenarios.

ola · August 26, 2025

Lesson Breakdown

LESSON 1: STUDENT READINESS & BASIC TOOLS

Topics:
1.1 – Assessment Test
1.2 – Basic Tools for Economic Analysis
1.3 – Measure of Central Tendency (Mean using grouped data)
1.4 – Measure of Central Tendency (Median using grouped data)
1.5 – Measure of Central Tendency (Mode using grouped data)
Description:
Provides a statistical foundation for economic analysis, focusing on data interpretation and measures of central tendency.


LESSON 2: MEASURES OF DISPERSION & EQUATIONS

Topics:
2.1 – Measure of Dispersion (Range, Variance, Mean Deviation, Standard Deviation)
2.2 – Simple Linear Equations (Simultaneous Equations)
Description:
Covers data variability measurements and introduces mathematical tools for solving economic problems.


LESSON 3: THEORY OF CONSUMER BEHAVIOUR

Topics:
3.1 – Concepts of Utility (Total, Average, Marginal Utility)
3.2 – Law of Diminishing Marginal Utility and Demand Curve
3.3 – Utility Maximization
Description:
Explores how consumers make choices based on satisfaction maximization and how this affects demand patterns.


LESSON 4: DEMAND AND SUPPLY

Topics:
4.1 – Change in Quantity Demanded vs. Change in Demand
4.2 – Change in Quantity Supplied vs. Change in Supply
4.3 – Effects of Changes on Equilibrium Price and Quantity
Description:
Fundamental market forces analysis, distinguishing between movements along curves and shifts of curves.


LESSON 5: ELASTICITY OF DEMAND

Topics:
5.1 – Meaning, Types, and Measurement of Elasticity of Demand
5.2 – Importance to Customers, Producers, and Government
Description:
Measures responsiveness of quantity demanded to price changes and its practical implications.


LESSON 6: ELASTICITY OF SUPPLY

Topics:
6.1 – Meaning, Types, and Measurement of Elasticity of Supply
6.2 – Importance to Consumers, Producers, and Government
Description:
Examines how producers adjust quantity supplied in response to price changes.


LESSON 7: INCOME ELASTICITY OF DEMAND

Topics:
7.1 – Definition, Types, Measurement
7.2 – Types (Positive and Negative)
7.3 – Measurement of Income Elasticity
Description:
Analyzes how changes in consumer income affect demand for different types of goods.


LESSON 8: CROSS ELASTICITY OF DEMAND

Topics:
8.1 – Meaning, Measurement, and Types of Cross Elasticity
Description:
Studies the relationship between price changes of one good and demand for related goods.


LESSON 9: PRICE CONTROL

Topics:
9.1 – Price Legislation: Meaning and Types
Description:
Examines government interventions in markets through price ceilings and floors.


LESSON 10: RATIONING AND HOARDING

Topics:
10.1 – Meaning of Rationing and Hoarding
10.2 – Effects of Rationing and Hoarding
10.3 – Black Market and Its Effects
Description:
Analyzes the consequences of scarcity, government allocation systems, and illegal market activities.


Key Learning Outcomes:

  • Quantitative Skills: Statistical analysis, equation solving, elasticity calculations
  • Market Understanding: Demand/supply dynamics, equilibrium analysis, price mechanisms
  • Policy Analysis: Evaluation of government interventions and market distortions
  • Consumer Theory: Utility maximization and decision-making processes

Target Audience: Secondary school economics students or introductory microeconomics learners.

Assessment Pattern: Each lesson includes quizzes and a final exam, emphasizing application-based learning.

Course Content

First Term

SECOND TERM

About Instructor

ola

7 Courses

Not Enrolled
This course is currently closed

Course Includes

  • 11 Lessons
  • 22 Topics
  • 21 Quizzes