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Please i want to know some of the topics which Economics students in the university Year 1 Semester 1 will begin learning during lectures.

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Basics and a Taste of What's to Come What Is Economics? Definitions of economics, the economy, political economy. Economics is about making choices, not just about making money. What Is Economics? Wellbeing and Welfare We face tradeoffs every day Scarcity Cost-benefit analysis The cost of something is what you give up to get it Opportunity cost Real, relative, and nominal prices People respond to incentives Incentives Think about small changes first Margins and Thinking at the Margin Trade makes everyone better off Exchange and Trade Comparative Advantage and the Benefits of Trade Markets are usually a good way to organize economic activity Efficiency Governments sometimes improve on market outcomes. Market Failures, Public Goods, and Externalities Governments sometimes make conditions worse than market outcomes. Government Failures, Rent Seeking, and Public Choice A country's standard of living depends on its ability to produce goods and services Economic Growth Division of Labor and Specialization Prices rise when the government prints too much money Inflation Economists agree about the principles, but differ about government policy recommendations. Economic Systems Read and Listen Critically to the News Supply and Demand Applies to Surprising Situations Human Capital The Roles of Graphs, Math, Equations, and Science in Economics Is Economics a Science? Measuring Economic Data GDP The Role of Institutions, Property Rights, Laws, and Customs Economic Institutions Property Rights
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