Instructional Primer[1]

Table of Contents



1.       Statistics

1.1.    Variance and Distribution


2.       Microeconomics

2.1.    Aggregating Supply and Demand Equations: Private Goods

2.2.   Comparative and Absolute Advantage and the Production Possibilities Frontier

2.3.    Compensation Expectations Equilibrium: Explaining Differences in Wages [2]

2.4.   Consumer Budgets, Indifference Curves, and Utility Maximization

2.5   Economic Profit

2.6.    Elasticity of Demand and Supply

2.7   Evaluating Economic Models

2.8   Human Capital Investments

2.9   Labor Economics Relationships - Synopsis

2.10    Measuring Distributional Inequalities

2.11.  Monopoly Market Structures

2.12.   Net Present Value (NPV) and Discounted Present Value Calculations

2.13.   Pareto Principles and the Edgeworth Box

2.14  Price Controls and Quotas

2.15   Public Goods Example and Problem

2.16  The Balance Condition

2.17  The Producer's Problem - optimal levels of K and L

      2.18  Why Demand Curves Slope Downwards & Supply Curves Slope Upwards

3.       Macroeconomics

3.1.   Aggregate Consumption, Aggregate Demand, GDP and the Keynesian Cross

3.2.   GDP, Savings, and Loanable Funds

3.3.    Keynesian Multiplier and the Money Multiplier

3.4.    Marginal Propensities to Save and Consume (MPS and MPC)

3.5   NAIRU, Business Cycle, PPF and AS/AD Model Integration

      3.6      Real and Nominal GDP Reference



[1] These primers are intended to present abbreviated discussions of the included economic concepts and are not intended to be full or complete representations of them or the underlying economic foundations from which they are built.  They have been prepared and developed by Rick Haskell (, Ph.D. Student, Department of Economics, College of Social and Behavioral Sciences, The University of Utah, Salt Lake City, Utah (2014)

[2] The Compensation Expectations Equilibrium is highly theoretical and is still in the formative stages.  It is being developed by Richard Haskell in the University of Utah’s Department of Economics and has not yet been vetted by peer review or the scholarly publication process.