intro to adv intro to applied micro_Presentation

Intro to adv intro - Wissink Economics 301 Intro About Economics& This Course ◆ So what is this course about ◆(And what is it not about ◆

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Unformatted text preview: Wissink Economics 301- Intro 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 ◆ 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 ◆ Economic(s): The study of the allocation of scarce resources to produce commodities to satisfy infinite human wants. – Classic definition. About Economics & This Course ◆ 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?...
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This note was uploaded on 02/19/2009 for the course ECON 3010 taught by Professor Wissink during the Fall '07 term at Cornell University (Engineering School).

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Intro to adv intro - Wissink Economics 301 Intro About Economics& This Course ◆ So what is this course about ◆(And what is it not about ◆

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