A comprehensive 30-page study guide for Economics 1B LU3, designed to bring the key content from the two lecture decks together into one organised exam-preparation document.

 WHAT'S INCLUDED:

• Public sector & components of government

• Efficiency, equity & market failure

• Monopoly & imperfect competition

• Public goods & the four types of goods

• Externalities – negative & positive

• Coase theorem

• Asymmetric information

• Common property resources & tragedy of t...