Episode 1 gives a brief description of economics in general. Several economic concepts and terms, such as scarcity, choice and opportunity cost, will be introduced besides discussion on major problems and issues that economics attempts to address.

Episode 7 deals with the basic market structure in a free market economy, that is, the perfect competition market. Here, we will look at how a firm makes decisions on price and output in order to maximise profit. Discussion begins by introducing the characteristics of the perfect competition...