Chapter 1

Chapter 1 - Chapter 1 1. Economics- the study of how the...

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Chapter 1 1. Economics- the study of how the productive and distributive aspects of human life are organized a. Knowledge of production, distribution, and consumption b. Scope can be international, national, regional, local or personal 2. Economic Theory- relates to the method of economics; (i.e. Marxist classical and Keynesian theory) a. allows us to examine certain aspects of economic life, and relationships b/t different economic variables and predict possible events 3. Assumption - an if statement; followed by a conditional conclusion 4. Types of economics : a. Urban economics- focus on economic operation of cities b. Microeconomics- focus of activities of smaller economic units c. Macroeconomics- focus on much broader subject of a national economy d. Public policy- analysis of proposals for deal with public problems e. Political- relationships b/t economic and political institutions 5. political economy- social science dealing w/ political policies and economic processes, their interrelationships, and their mutual influence on social institutions
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This note was uploaded on 04/20/2008 for the course ECON 112 taught by Professor Minkler during the Fall '08 term at UConn.

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Chapter 1 - Chapter 1 1. Economics- the study of how the...

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