Units

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Market Structures

How the number of firms, the product and the barriers to entry shape a market; the perfectly competitive firm's cost and revenue curves, its short-run and long-run equilibrium, break-even and shutdown points; monopoly, its sources, equilibrium, control and price discrimination; monopolistic competition and oligopoly, with the kinked demand curve; and a side-by-side comparison of all four structures, every one drawn as a diagram.

Lessons

National Income

What national income measures and how Rwanda's is counted three ways (output, income and expenditure), using NISR's 2025 accounts; why measurement is hard in a developing economy and what determines the level of income; the circular flow with its injections and leakages; equilibrium income on the Keynesian cross, inflationary and deflationary gaps and the business cycle; and national income against living standards, inequality drawn as a Lorenz curve with the Gini coefficient, and the causes of low income per head in Rwanda.

Lessons

Consumption, Saving, Investment and Multiplier

How households divide income between consumption and saving, drawn as the consumption and saving functions with their average and marginal propensities and tested on Rwanda's national accounts; what decides saving in a developing country; what drives investment, with the classical loanable-funds and Keynesian marginal-efficiency theories; and how the multiplier and the accelerator turn a change in spending into a larger change in income and investment.

Lessons

Money

Why barter gave way to money and how money evolved from cattle and hoes to bank deposits and mobile wallets; the types, qualities and functions of money and what decides its value; Keynes's demand for money and the liquidity trap; the quantity theory of money with its criticisms; and Rwanda's money supply, measured as M1, M2 and M3 by the National Bank of Rwanda, with what determines it and what changes in it do.

Lessons