--2: MICROECONOMICS-- 

2.1 DEMAND | 2.2 SUPPLY |  2.3 COMPETITIVE MARKET EQUILIBRIUM | 2.4 CRITIQUE OF THE MAXIMIZING BEHAVIOUR OF CONSUMERS AND PRODUCERS (HL) | 2.5 ELASTICITY OF DEMAND | 2.5.1 PED | 2.5.2 YED | 2.6 PRICE ELASTICITY OF SUPPLY (PES) |  2.7 ROLE OF GOVERNMENT IN MICROECONOMICS | 2.7.1 REASONS FOR GOV'T INTERVENTION | 2.7.2 PRICE CEILINGS | 2.7.3 PRICE FLOOR | 2.7.4 INDIRECT TAX | 2.7.5 SUBSIDIES | 2.7.6 DIRECT GOV'T PROVISION | 2.7.7 REGULATION & LEGISLATION | 2.7.8 NUDGES (HL) | 2.8 MARKET FAILURE | 2.8.1 CPRs | 2.8.2 EXTERNALITIES | 2.8.2.1 NEG. EXTERNALITIES OF PRODUCTION | 2.8.2.2 NEGATIVE EXTERNALITIES OF CONSUMPTION  | 2.8.2.3 POSITIVE EXTERNALITIES OF PRODUCTION  | 2.8.2.4 POSITIVE EXTERNALITIES OF CONSUMPTION | 2.9 MARKET FAILURE: PUBLIC GOODS | 2.10: MARKET FAILURE: ASYMMETRIC INFORMATION (HL) |  2.11 MARKET FAILURE: MARKET POWER (HL) | 2.11.1 PRODUCT, REVENUE, COSTS & PROFITS | 2.11.2 PERFECT COMPETITION | 2.11.3 MONOPOLY | 2.11.3.1 NATURAL MONOPOLY | 2.11.4 MONOPOLISTIC COMPETITION | 2.11.5 OLIGOPOLY | 2.11.6 MONOPOLY ABUSE | 2.12 MARKET'S INABILITY TO ACHIEVE EQUITY (HL)