1. Consumers, producers, the market, Pareto efficiency, a perfectly competitive market, supply and demand curves, the market mechanism and market equilibrium.
2. Consumption (budget set, budget line, changes in budget constraint due to changes in the prices of goods and consumer income).
3. Preferences (axioms of preferences, indifference curves for typical preferences, special cases of preferences, well-behaved preferences).
4. Utility function (basic utility functions, monotonic transformations of utility functions, marginal utility, Marginal Rate of Substitution, the law of diminishing MRS).
5. Optimal consumer choice (choice under different utility functions, internal solutions, the alternative approach, Marshallian demand and Hicksian demand).
6. Comparative statics (price expansion path, demand curve, ordinary goods, Giffen goods, income expansion path, Engel curve, normal goods, inferior goods, necessities, luxury goods, price and income elasticity of demand, mixed price elasticity of demand).
7. Revealed preferences (directly and indirectly preferred bundles, weak and strong revealed preference axioms, price and quantity indices: Laspeyres and Paasche indices).
8. The substitution effect and income effect (the Slutsky equation, compensated income according to Slutsky and Hicks).
9. Buying and selling (initial endowment, net and gross demand, labour supply choice model, Slutsky equation with initial endowment).
10. Measures of welfare change (reservation price, consumer surplus, compensating variation and equivalent variation).
11. Intertemporal choice (interest rate, the value of money over time, the intertemporal choice model, cash income versus endowment income, inflation, the real interest rate).
12. Risk and uncertainty (distribution of random variable, expected value, variance, standard deviation, degree of risk aversion, risk spreading, certainty equivalent, expected utility function, von Neumann–Morgenstern utility function, fair insurance, diversification).