Chapter 1: Thinking Like an Economist

Sep 22, 2012

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Chapter 1: Thinking Like an Economist

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1. Chapter 1: Thinking Like an Economist

Thinking Like an Economist

Thinking Like an Economist. Philosophy of This Course. Focus on covering the core ideas of economics rather than covering many topics superficially – chances are, you’re not going to be economists … Encourage active learning--one must do and see economics in order to learn it

645 views • 42 slides

Thinking Like An Economist

2. Thinking Like An Economist. E conomics. P R I N C I P L E S O F. N. Gregory Mankiw. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ? What are models? How do economists use them?

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Thinking Like an Economist

Thinking Like an Economist. Lecturer: Jack Wu. IS THE ECONOMIST A SCIENTIST?. Economics = queen of social science (Only Nobel Prize in Economics) Economics in Business is like Physics in Engineering Economists = scientists Devise theories Collect data Analyze these data

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Thinking Like An Economist

Thinking Like An Economist. Economics: Studying Choice In a World of Scarcity. The Scarcity Principle Boundless wants cannot be satisfied with limited resources. Therefore, having more of one thing usually means having less of another. Because of scarcity we must make choices. Scarcity.

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Thinking Like An Economist

Thinking Like An Economist. CHAPTER 2. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ? What are models? How do economists use them?

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Thinking Like An Economist

2. Thinking Like An Economist. E conomics. E S S E N T I A L S O F. N. Gregory Mankiw. Premium PowerPoint Slides by Ron Cronovich. The Economist as Scientist. Economists play two roles: 1. Scientists: try to explain the world 2. Policy advisors: try to improve it

640 views • 34 slides

Thinking Like An Economist

2. Thinking Like An Economist. E conomics. P R I N C I P L E S O F. N. Gregory Mankiw. Premium PowerPoint Slides by Ron Cronovich. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ?

942 views • 40 slides

Thinking Like an Economist

Thinking Like an Economist. Economics trains us to think in terms of alternatives , cost of choices, and provides insights on how certain issues are related Economists think both like scientists and policy makers.

720 views • 11 slides

Thinking Like An Economist

2. Thinking Like An Economist. E conomics. E S S E N T I A L S O F. N. Gregory Mankiw. Premium PowerPoint Slides by Ron Cronovich. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ?

558 views • 40 slides

Thinking Like an Economist

Thinking Like an Economist. Chapter 2. Economics trains you to. Be mindful about the choices that you make. Evaluate the cost of individual and social choices. Examine and understand how certain events and issues are related.

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Thinking Like an Economist

Thinking Like an Economist. The Study of Economics. Economics is the study of how society manages its scarce resources. Scarcity: If resources were not scarce there would be no need for economics!

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Thinking Like An Economist

P R I N C I P L E S O F. F O U R T H E D I T I O N. Thinking Like An Economist. 2. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ? What are models? How do economists use models?

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Thinking Like an Economist

Thinking Like an Economist. Basic Questions: Macro. Macroeconomic Questions How can sufficient growth be attained so that the well being of society increases? How should productive capacity be utilized so that there will be full employment with stable prices?. The Economy as a Circular Flow.

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Chapter 1 Thinking Like An Economist

Chapter 1 Thinking Like An Economist. Chapter 1, Opportunity Cost Q.1.

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Thinking Like An Economist

2. Thinking Like An Economist. M icroeonomics. P R I N C I P L E S O F. N. Gregory Mankiw. Premium PowerPoint Slides by Ron Cronovich. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ?

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Thinking Like An Economist

2. Thinking Like An Economist. M acroeconomics. P R I N C I P L E S O F. N. Gregory Mankiw. Premium PowerPoint Slides by Ron Cronovich. In this chapter, look for the answers to these questions:. What are economists’ two roles? How do they differ?

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Thinking Like an Economist

Thinking Like an Economist. what is Economics. Thinking Like an Economist. Economists: People who specialize in economics People who have extensive knowledge in economics http://nobelprize.org/nobel_prizes/economics/laureates/ Economics: Subject about the economy Economy:

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Thinking Like An Economist

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Thinking Like An Economist

Thinking Like An Economist. Introduction. What is the Optimal Class Size? To maximize learning without consideration of cost? How would considering costs change our answer? A personal tutorial course in economics might cost $40,000 A class of 300 students might cost $200/student.

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Thinking Like an Economist

2. Thinking Like an Economist. The Economist as a Scientist. Economics = science Economists = scientists Devise theories Collect data Analyze these data Verify or refute their theories Scientific method Dispassionate development and testing of theories about how the world works.

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Thinking Like An Economist

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Thinking Like an Economist

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