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intro to adv intro to applied micro_Presentation

intro to adv intro to applied micro_Presentation - Wissink...

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1 Wissink Economics 301- Intro
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2 About Economics & This Course So what is this course about? (And what is it not about?) My working title: Advanced Introduction to Applied Microeconomic Theory
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3 Theory: We will construct models. Look at the world and decide what it is we want to explain or predict identify important variables state assumptions that govern the model make hypotheses analyze the model use the model to make predictions and then see if the model holds up under empirical scrutiny. About Economics & This Course
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4 Economic(s): The study of the allocation of scarce resources to produce commodities to satisfy infinite human wants. Classic definition. About Economics & This Course
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5 MACRO VS. MICRO Micro: Looks at small pieces of the puzzle, individual markets Three basic micro questions: » What? » How? » For Whom? How will be decide? How will we like the final allocation?
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