{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Economics - •Macroeconomics deals with • Inflation •...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics and Market Forces •What happens in society can be seen as a reaction to, and interaction of, economic forces, social forces, and historical forces. •Social, cultural, and political forces influence market forces. •Political and social forces often work together against the invisible hand. Microeconomics and Macroeconomics •Microeconomics studies such things as: The pricing policy of firms. Households’ decisions on what to buy. How markets allocate resources among alternative ends.
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: •Macroeconomics deals with: • Inflation. • Unemployment. • Economic growth. Policy Analysis To distinguish between objective and subjective analysis, economics is divided into three categories: • Positive economics – the study of what is • Normative economics – the study of what should be • Art of economics – using the knowledge of positive economics to achieve the goals determined in normative economics...
View Full 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