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Welcome to Principles of Microeconomics Fall 2014

Welcome to Principles of Microeconomics Fall 2014. Name that Economist. This guy is formerly very important. Now she’s very important. 4. This guy’s pretty cool. Economics Gets People to Places – Some Past Economics Majors. Business leaders: Warren Buffett - CEO, Berkshire Hathaway

yuri-lancaster
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Welcome to Principles of Microeconomics Fall 2014

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  1. Welcome to Principles of MicroeconomicsFall 2014

  2. Name that Economist

  3. This guy is formerly very important.

  4. Now she’s very important.... 4

  5. This guy’s pretty cool.

  6. Economics Gets People to Places – Some Past Economics Majors Business leaders: Warren Buffett - CEO, Berkshire Hathaway Donald Trump – Real estate/TV mogul Sam Walton – Founder, Wal-Mart Meg Whitman – CEO, Ebay Steve Ballmer – CEO, Microsoft Heads of state: George H. W. Bush – US president Gerald Ford – US president Ronald Reagan – US president Stephen Harper – Prime minister, Canada Manmohan Singh – Prime minister, India Public officials: Sandra Day O’Connor – Supreme Court justice Arnold Schwarzenegger – Governor/Philanderer Barbara Boxer – US Senator Ben Bernanke – Chairman, US Federal Reserve Janet Yellen – Chairwoman, US Federal Reserve Kofi Annan – UN secretary General Entertainers, athletes, and others: Cate Blanchett – Actress Mick Jagger – Singer Young MC – Singer Lionel Richie - Singer Bernie Kosar – NFL quarterback Tiger Woods – Golfer/Philanderer Muhammad Yunus – Nobel Peace Prize winner

  7. My girls

  8. Why should you finish your degree?

  9. What about the impact of the Great Recession?

  10. Your major also matters. • If you want a really high paying job you should major in…. • …engineering. • If you want a high paying job in business or social sciences you should major in… • If you want a really high paying job you should major in…. • …engineering. • If you want a high paying job in business or social sciences you should major in…. • If you want a really high paying job you should major in…. • …engineering. • If you want a high paying job in business or social sciences you should major in…. • http://chronicle.com/article/Median-Earnings-by-Major-and/127604/

  11. Put another way - ROI? • Study by Barrow and Rouse: • “Lifetime incomes of college grads in today's dollars average nearly $300,000 more than high school graduates over a 40-year career. And that's the net benefit, after deducting an average cost of more than $100,000 in tuition, room and board and potential income lost while attending college.”

  12. Why you should come to class, economically speaking. Tuition and fees is $8087 for an in-state student. For a student taking 5 classes per semester, this class costs $809. There are 29 scheduled classes, so each class costs an average of $27.88. For a college graduate, the estimated gross returns are $4.00 for every $1.00 spent on education. If you graduate, each class would be worth an average of $111.54 in additional gross lifetime income ($83.66 net)! 12

  13. For you specifically What about YSU? http://collegerealitycheck.com/en/colleges/compare/ 13

  14. Scarlett Marie Wants You… • …to do well in this class!

  15. The key to Success in this class: • Practice

  16. Attendance is not required?Attendance and Grade Distribution

  17. Your First (of many) Graphs

  18. Use S.I.

  19. The more you go to SI....

  20. Read – and use - the book More of this Less of this

  21. Study. Spend time reviewing the material outside of class. Put effort into assignments and prepare for quizzes. Review questions on the quizzes, especially the ones you get wrong. Do the study guide practice problems that are posted on the class website. Come see me in my office or email me questions. Use the Grad Student tutors (hours to follow). Think positive!

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