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Introduction to MicroeconomicsChapter 01 : Introduction
Chapter 02: Supply and Demand in Markets
Chapter 03: Supply, Demand and Elasticity
Chapter 04: Efficiency of markets and Elasticity
Chapter 05: Externalities
Chapter 06: Supply, Demand and Government policies
Chapter 07: Public goods or Private goods?
Chapter 08: The Costs of Production
Chapter 09: Profit Maximisation
Chapter 10: Imperfect Competition
Rhetoric or How to prepare and hold successful presentationsPart I : Introduction
Part II : Inventio
Part III : Dispositio
Part IV : Elocutio & Pronunciatio
Part V : Memoria
Part VI : Actio
 
Hiltgunt Fanning: Microeconomics
Introduction to Microeconomics – Abstracts

Chapter 1 : Introduction Chapter 1 is concerned with the subject, the purpose and the characteristics of economics. It explains that as a result of boundless human needs and limited resources, economics may be defined as the science studying how society manages its scarce resource. Economics shares with other sciences the scientific approach, the use of models and different levels of study. What differentiates it from natural sciences is the fact that economics cannot rely on laboratory tests for developing and verifying its theories. Chapter 1 explains one central economic model – the Production Possibilities Frontier and presents 7 assumptions about the economic behaviour of humans.

Chapter 2: Supply and Demand in Markets Chapter 2 is dedicated to the central model of microeconomics, the perfectly competitive market. First, this market model is defined and compared with other market forms. Then, demand and supply as the two antagonists of markets representing the buyers and the sellers respectively are analysed regarding their determinants and interplay. Central elements dealt with are the law of demand / supply, the demand / supply schedules, the demand / supply curves and the market equilibrium.

Chapter 3: Supply, Demand and Elasticity Chapter 3 deals with elasticity as a measure of how much buyers and sellers respond to changes in market conditions, which is necessary for assessing how total revenue will be affected by these changes. The central element of chapter 3 is the price elasticity of demand, its determinants, ranges and how to calculate it as well as the impact of price changes on total revenue. Income elasticity of demand, cross-price elasticity of demand and price elasticity of supply are also explained.

Chapter 4: Efficiency of markets and Elasticity Chapter 4 uses the concepts of consumer surplus (= willingness to pay – actual price), producer surplus (= actual price – costs to sellers) and total surplus (consumer surplus + producer surplus) to show that the equilibrium of markets is the point at which total surplus is maximised.

Chapter 5: Externalities Chapter 5 analyses cases in which people who are not participants of a particular market are affected by market outcomes without paying or being compensated. This impact may be beneficial (positive externalities) and thus supported by society or adverse (negative externalities) and thus punished by society.

Chapter 6: Supply, Demand and Government policies Chapter 6 identifies externalities, markets with incomplete competition and political pressure (market outcomes perceived as unfair) as cases in which governments may decide to impose price controls or taxation. It shows that such interference always results in market imbalances between quantities supplied and demanded or in reduced market size. As regards taxation, chapter 6 also discusses tax incidence and elasticities.

Chapter 7: Public goods or Private goods? Chapter 7 uses the criteria of excludability and rivalry for distinguishing 4 kinds of goods: private goods, public goods, common resources and natural monopolies. It shows why public goods are not offered by private markets and how and why goods / services may change their classification over time.

Chapter 8: The Costs of Production Starting from the profit motive as the central consideration of firms, this chapter introduces central terms needed for calculating profit – total revenue, total cost, explicit costs, implicit costs, economic as opposed to accounting profit, fixed and variable costs, average costs and the shape of cost curves and the production function over time.

Chapter 9: Based on cost-and-revenue analysis, chapter 9 explains when firms will enter or leave markets and at what point profits are maximised.

Chapter 10: Chapter 10 shows why competition on monopoly markets, oligopoly markets and markets with monopolistic competition is imperfect. The main problem with monopoly markets is the fact that monopolies cannot set prices at the point where marginal cost equals marginal revenue, because for them marginal revenue is always smaller than average revenue. Instead, they have to use the demand curve, which depicts average revenue, for setting the price. As a result, monopoly prices are higher than prices on markets with perfect competition, which means a loss of welfare for consumers. Firms on oligopoly markets may co-operate and act as one, in which case the market outcomes are identical to monopoly markets. The second situation on oligopoly markets is competition, in which case individual oligopolists try to achieve more profit by breaking the production agreement and producing more and thus achieving higher revenues than their competitors. A Nash equilibrium arises if all parties break the agreement and produce more. In this case, all parties concerned suffer losses of revenue as compared with the initial situation of oligopolists behaving as a monopoly. What differentiates markets with monopolistic competition from markets with perfect competition is the fact that they try to create the impression that their products are unique. This strategy, if successful, allows them to behave like monopolies and charge monopoly prices.
 
Hiltgunt Fanning: Rhetorik
Rhetoric or How to prepare and hold successful presentations discusses in 6 parts what aspects need to be considered before a presentation may be held, and draws on the findings of ancient rhetoric and modern communication science for the recommendations made. The structure is based on the steps observed by ancient rhetoric, viz. Inventio (Content), Dispositio (Structure), Elocutio (Stylistic means), Pronunciatio (Speaking well), Memoria (Memorising the information presented) and Actio (Delivering the Presentation). The introduction (Part I) defines rhetoric as the art of persuasion and explains that successful presentations must be audience-centred and what important aspects of the interplay between speaker, audience and content are. ‘Inventio’ deals with types of information and where to find them, with creativity and accelerated reading techniques. ‘Dispositio’ discusses established structural models of presentations (3-part model, AIDA / AITA, 5-part model, Problem-solving model, Pros- und Cons model), the amount of information presented simultaneously and mind mapping. ‘Elocutio and Pronunciatio’ focuses on specific tools suitable for raising and maintaining audience interest in a presentation (stylistic level, questions, jokes, stories, quizzes, figures of speech, sentence structure, puns, phonetic features) and explains how clear and loud pronunciation may be achieved. ‘Memoria’ characterises successful presentations as pleasant, systematic, brain-friendly and audience-centred and explains how this may be achieved. Furthermore, practical aspects of visualising information are discussed. ‘Actio’ analyses verbal and non-verbal aspects of the communication between audience and speaker and offers guidance for ensuring the smooth delivery of presentations.

Rhetoric or how to prepare and hold successful presentations bespricht in 6 Teilen, welche Aspekte bedacht werden müssen, ehe eine Präsentation gehalten wird. Dabei werden Empfehlungen der antiken Rhetorik sowie der modernen Kommunikationswissenschaft berücksichtigt. Die Struktur orientiert sich an den Schritten, die durch antike Redner bei der Vorbereitung ihrer öffentlichen Auftritte berücksichtigt wurden, nämlich Inventio (Inhalt), Dispositio (Struktur), Elocutio (Stilistik), Pronunciatio (Sprechweise), Memoria (Behalten von Informationen) und Actio (Halten der Präsentation). In der Einleitung wird Rhetorik als Kunst der Überzeugung definiert und betont, dass erfolgreiche Präsentationen immer auf die Bedürfnisse des Publikums ausgerichtet sind und das Zusammenspiel von Redner, Publikum und Inhalt in seiner ganzen Komplexität beachten. ‚Inventio’ befasst sich damit, welche Arten von Information eine Präsentation enthalten muss und wie man solche Informationen findet. Besondere Aufmerksamkeit wird dabei Kreativitätstechniken und Schnelllesetechniken gewidmet. ‚Dispositio’ bespricht grundlegende Strukturmodelle (3-gliedrig, AIDA / AITA, klassisches 5-gliedriges Modell, Problemlösungsmodell, Pro-und-Kontra-Modell) sowie Fragen der Aufnahmefähigkeit des Publikums and Notationstechniken. ‚Elocutio und Pronunciatio’ ist Mitteln zur Steigerung des Publikumsinteresses (Stilebene, Fragen, Witze, Geschichten, Spiele, Redefiguren, Satzstruktur, Wortspiele, Wortklang) sowie dem Erzielen einer guten und deutlichen Aussprache gewidmet. ‚Memoria’ erläutert, dass erfolgreiche Präsentationen immer unterhaltsam, systematisch angelegt, gehirn-gerecht und publikumsgerecht sind und wie dies erreicht werden kann. Dabei wird die Visualisierung von Fakten ausführlich besprochen. ‚Actio’ befasst sich mit zentralen Aspekten der verbalen und nonverbalen Kommunikation zwischen Redner und Publikum und erläutert, wie der reibungslose Ablauf einer Präsentation gesichert werden kann.
 
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