Economics

Economics - Macroeconomics deals with: Inflation....

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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.
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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...
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This note was uploaded on 02/12/2009 for the course ECON 2030 taught by Professor Bong during the Spring '07 term at LSU.

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