Introductory Economics 101
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15 sessions
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About
This introductory economics series explores how markets and economies function. Covering key micro and macro topics—from demand, supply, and externalities to inflation, unemployment, and trade—it combines clear theory, real-world examples, and essential diagrams to build a strong foundational understanding of economic principles and policy impacts.
Tutored by
✋ ATTENDANCE POLICY
You are free to attend/skip whichever sessions you want.
SESSION 1
1
Nov
SESSION 1
Other Topics
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Sat 4:30 PM - 5:30 PM UTCNov 1, 4:30 PM - 5:30 PM UTC
Session 1 – What Is Economics? (45 min)
Goals: Scarcity, choice, opportunity cost, micro vs macro
Structure:
(10 min) Warm-up & definitions
(15 min) PPC concept + draw & shift reasons
(10 min) Real-life trade-off examples
(10 min) Recap & mini-quiz
Diagram: Production Possibility Curve
SESSION 2
2
Nov
SESSION 2
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Sun 4:30 PM - 5:30 PM UTCNov 2, 4:30 PM - 5:30 PM UTC
Session 2 – Demand (45 min)
Goals: Law of demand, determinants, shifts, elasticity overview
Structure:
(10 min) Define demand & law
(15 min) Draw and shift demand curves
(10 min) Quick elasticity example (PED)
(10 min) Recap & 2 MCQs
Diagram: Demand curve, shift left/right
SESSION 3
3
Nov
SESSION 3
Other Topics
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Mon 4:30 PM - 5:30 PM UTCNov 3, 4:30 PM - 5:30 PM UTC
Session 3 – Supply (45 min)
Goals: Law of supply, determinants, PES concept
Structure:
(10 min) Define & explain law
(15 min) Shifts in supply (technology, costs)
(10 min) PES mini-calculation
(10 min) Recap
Diagram: Upward sloping supply curve
SESSION 4
4
Nov
SESSION 4
Other Topics
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Tue 4:30 PM - 5:30 PM UTCNov 4, 4:30 PM - 5:30 PM UTC
Session 4 – Market Equilibrium & Intervention (45 min)
Goals: Market clearing, surplus/shortage, government intervention
Structure:
(15 min) Equilibrium explanation + diagram
(10 min) Price floor/ceiling examples
(15 min) Tax & subsidy diagrams
(5 min) Wrap-up quiz
Diagrams: Equilibrium, tax incidence, subsidy
SESSION 5
5
Nov
SESSION 5
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Wed 4:30 PM - 5:30 PM UTCNov 5, 4:30 PM - 5:30 PM UTC
Session 5 – Market Failure & Intro to Externalities (45 min)
Goals: What is market failure? Private vs social costs/benefits
Structure:
(10 min) Concept overview
(20 min) Identify real-world externalities
(10 min) Intro diagram: MSC/MSC conceptually
(5 min) Recap
Diagram: Generic social cost/benefit diagram
SESSION 6
6
Nov
SESSION 6
Other Topics
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Thu 4:30 PM - 5:30 PM UTCNov 6, 4:30 PM - 5:30 PM UTC
Session 6 – Negative Externalities (45 min)
Goals: Overproduction, welfare loss, government correction
Structure:
(10 min) Examples (pollution, congestion)
(20 min) Diagram & explanation (MSC > MPC)
(10 min) Policy tools: tax/regulation/permits
(5 min) Quick check
Diagram: Negative externality in production
SESSION 7
7
Nov
SESSION 7
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Fri 4:30 PM - 5:30 PM UTCNov 7, 4:30 PM - 5:30 PM UTC
Session 7 – Positive Externalities (45 min)
Goals: Underproduction, welfare gain, policy tools
Structure:
(10 min) Examples (education, healthcare)
(20 min) Diagram (MSB > MPB)
(10 min) Subsidy/public provision discussion
(5 min) Recap
Diagram: Positive externality in consumption
SESSION 8
8
Nov
SESSION 8
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Sat 4:30 PM - 5:30 PM UTCNov 8, 4:30 PM - 5:30 PM UTC
Session 8 – Evaluating Externality Solutions (45 min)
🎯 Goals:
Review negative and positive externalities
Understand and compare key government responses: taxes, subsidies, regulation, tradable permits
Evaluate advantages and disadvantages of different policy tools
🕐 Structure:
(10 min) Recap: quick revision of negative and positive externality diagrams
(15 min) Explanation of government solutions — tax, subsidy, and regulation with examples (e.g. carbon tax, education subsidy)
(10 min) Group or pair activity: match externality examples to the most effective policy tool
(5 min) Discuss trade-offs (effectiveness, cost, equity)
(5 min) Quick recap quiz and takeaway summary
📊 Diagram Focus:
Negative externality corrected by tax
Positive externality corrected by subsidy
SESSION 9
9
Nov
SESSION 9
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Sun 4:30 PM - 5:30 PM UTCNov 9, 4:30 PM - 5:30 PM UTC
Session 9 – Circular Flow & National Income (45 min)
Goals: Circular flow, leakages/injections, GDP concepts
Structure:
(15 min) Circular flow diagram
(15 min) GDP, GNI, nominal vs real
(10 min) Measurement issues
(5 min) Recap
Diagram: Circular flow of income
SESSION 10
10
Nov
SESSION 10
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Mon 4:30 PM - 5:30 PM UTCNov 10, 4:30 PM - 5:30 PM UTC
Session 10 – Aggregate Demand (AD) (45 min)
Goals: Components (C + I + G + (X–M)), shifts
Structure:
(10 min) Define & components
(20 min) Draw AD curve & shift scenarios
(10 min) Case example (stimulus)
(5 min) Recap
Diagram: AD curve
SESSION 11
11
Nov
SESSION 11
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Tue 4:30 PM - 5:30 PM UTCNov 11, 4:30 PM - 5:30 PM UTC
Session 11 – Aggregate Supply (AS) (45 min)
Goals: SRAS/LRAS, factors, Keynesian vs Classical views
Structure:
(10 min) SRAS
(15 min) LRAS shapes comparison
(15 min) Shifts & productivity links
(5 min) Recap
Diagram: SRAS & LRAS
SESSION 12
12
Nov
SESSION 12
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Wed 4:30 PM - 5:30 PM UTCNov 12, 4:30 PM - 5:30 PM UTC
Session 12 – AD–AS Equilibrium (45 min)
Goals: Equilibrium, output gaps, inflationary/deflationary pressures
Structure:
(15 min) Combine AD + AS
(15 min) Gap analysis
(10 min) Policy implications
(5 min) Recap
Diagram: AD–AS equilibrium
SESSION 13
13
Nov
SESSION 13
Other Topics
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Thu 4:30 PM - 5:30 PM UTCNov 13, 4:30 PM - 5:30 PM UTC
Session 13 – Macroeconomic Problems & Policies (45 min)
Goals: Inflation, unemployment, fiscal, monetary, supply-side policy tools
Structure:
(10 min) Identify macro goals
(10 min) Inflation & unemployment concepts
(15 min) Policy tools (diagram each)
(10 min) Mini policy case
Diagrams: Phillips curve; fiscal shift diagram
SESSION 14
14
Nov
SESSION 14
Other Topics
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Fri 4:30 PM - 5:30 PM UTCNov 14, 4:30 PM - 5:30 PM UTC
Session 14 – Trade & Tariffs (45 min)
Goals: Tariffs, quotas, protectionism, welfare effects
Structure:
(10 min) Open economy intro
(20 min) Tariff diagram + welfare analysis
(10 min) Free-trade vs protection debate
(5 min) Course wrap-up & review quiz
Diagram: Tariff with DWL
SESSION 15
16
Nov
SESSION 15
Office Hours
Office Hours
Sun 4:30 PM - 5:30 PM UTCNov 16, 4:30 PM - 5:30 PM UTC
Culmination session with any doubts that can be clarified with the tutor!