micro 2 doc - o Effect of government Concerned with...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
o Effect of government Concerned with decision of individual, households, and businesses Jim decides to buy a house while the interest rate is low Macroecon Focus on the national society (broader economy) o Inflation o Loos at the broader economy, inclusind inflation, growth, employment, interest rates, and productivity What happens to the economy if there is widspres unemployment? o I only care about a lot of people like change of interest rates not just specific jim like microeconomist The five foundation of economics 1. Incentives matter 2. Life is about trade-offs 3. Opportunity costs 4. Marginal thinking 5. Trade creates value 1. Incentives matter Incentives Factors that motivate you to act or exert effort (ppl use both negative and positive incentives hand and hand)
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern