Suggest me some economic concepts to learn

Cinitiator

Please suggest me some economic concepts to learn - the more important, the better. I'm self-teaching economics, and want to find more concepts to learn.


Here are some of the ones I know as of now (might edit it as I learn more):

Factors of production and final product (inputs and outputs)
The law of supply and demand
Elasticity of supply
Elasticity of demand
Marginal cost
Average total cost
Marginal revenue
Marginal profit
Profit MC=MR maximization model
Total cost
Total revenue
Total profit
Total cost & total revenue based profit-maximization model
Variable costs
Fixed costs
Marginal utility
Total utility
Production possibility frontier
Opportunity cost
Consumer surplus
Producer surplus
Total product
Average product
Marginal product
Capital accumulation
Leontief input-output model
Cobb-Douglas production function
Neoclassical (Solow) growth model
Capital stock
Technological innovation
Hyperinflation
Stagflation
Division of labor
Capital intensity
Indifference curves
Marginal rate of substitution
Budget constraint
Laffer Curve
Velocity of money
Backward Bending Labor Supply Curve
Monetary policy
Extensive growth
Intensive growth
Capital depreciation

Keynesian:
Aggregate supply and demand
Short run aggregate supply
Long run aggregate supply
Keynesian cross
Consumption function
Marginal propensity to consume
Marginal propensity to save
Circular flow of income model
Interest rates and loanable funds model
Interest rates & consumption relationships
Multiplier effect
Keynesian multiplier
Components of aggregate demand (consumption, government spending, investment, net exports...)
Potential output
Fiscal policy

Marxian:
Surplus value
Money diagrams (M-C-M', C-M-C, etc)
Constant capital
Variable capital
Rate of exploitation
Socially necessary labor time
Labor theory of value
Living labor
Dead labor
Productive labor
Unproductive labor
Falling rate of profit
Super profit based socially necessary labor time shifts due to capitalistic competition
Overproduction
Crisis due to over-accumulation of capital
Constant capital, variable capital and surplus value relationship
Production for use and production for exchange
Labor power
Labor as a commodity

Other
Detailed Soviet planning structure
Material balance planning
Physical magnitude accounting and its implications
Yugoslavian market socialism
Soviet growth strategies, investment types and growth rates, as well as causes of stagnation
Soviet remuneration methods
Socialistic competition and its application by the Soviets
Organization models (standard (entirely capitalist-owned, all the surplus value goes to the capitalist), corporations, worker cooperatives)

Ryan_m_b

Only thing I suggest is looking at different models of organisation e.g. cooperatives vs corporates etc.

Cinitiator

I'm familiar with those already. Going to add them to my list.

Pyrrhus

Here it is easier

Buy a Microeconomics book, and go through it.

Buy a Macro book, and go through it.

Buy a econometrics book, and go through it

Cinitiator

I've done that, except with free and open-source online books, as well as free and open-source online lectures, and various articles on the topic. I'm simply asking people to suggest some important concept that I could've missed, so that I could learn them if I don't know them already.

turbo

@OP, you might interview owners of small businesses that have to "roll with the punches" as things change. Line of credit declining? Shipment options getting more expensive? Competitors moving in on your business? There are millions of variables, and if you are the owner of a small business, you have to cope with them. Learn economics "on the ground" if you want to understand economics. That's just my take on things, and I live in the most rural state in the country, so you may discount it if you wish.

BWV

just read Adam Smith, Hayek, & Public Choice theory

Pyrrhus

The question is.. Do you want to learn economics or learn about economics?

I doubt that you reading those books got everything unless you have a good mathematical background.

BWV

mathematics in economics beyond some basic manipulation of accounting entities is just analogy, you can safely skip most all of it

there is no math worth speaking of in Adam Smith or Hayek. Buchanan's Calculus of Consent is rooted in game theory, but its not necessary for understanding the book

SocialThought

Here's one more for your list, a key to understanding our (warming) world: negative externalities.

BWV

true, although public choice does provide the key to understanding policy responses

Cinitiator

I know and understand all the mathematical modeling behind the economic works I had read, with a few exceptions being some newly-published economic papers which use discrete mathematics rather than calculus for dynamic economic modeling (I understand it now, though, after reading up on it).

Cinitiator

I've read some Hayek, and his works (along with Mises) on the so-called economic calculation problem. The lack of concrete evidence and reasoning as well as the dogma in his works was astonishing, so I would rather not waste my time on learning Austrian economics.

BWV

The fact that you can dismiss this very serious argument that has been at the center of modern economics (and has been basically settled in Hayek's favor) so quickly out of hand shows that you are probably wasting your time studying the topic, perhaps you should try physics or accounting

Dickfore

Monopoly, Oligopoly, and Monopolistic competition.

phinds

moral hazard

John Creighto

Adan Smith:
-Value in use
-Value in trade
Carl Menger:
-first order goods and higher order goods