chapte1 - Class 1 I. Self Intro This is Econ 1A, Intro to...

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Class 1 I . Self Intro This is Econ 1A, Intro to Macroeconomics. I am your instructor, David Moglen. Just to tell you something about my background I went to High School in the Auburn area which is an hour east of Sac. I attended Sierra Comm. Coll. in Rocklin. After 2 yrs I transferred to UCSC I completed a double-major in Economics and Modern Literature with honors. While at UCSC I interned with MSDW and was a GSI for Macro. MA (Econ, bus. Emph.) from UCSB GSI 2 sec. Macro GSI 2-3 sec Am Law 100 per term over two terms Group tutor for Macro sections 4 times a week, pub/ priv econ tutor Since graduation I’ve worked as an Instructional Designer for a web-based education firm in Mountain View, teaching English Composition in San Jose and at Mission teaching Macro. I’ve taught Macro at Foothill’s Middlefield Extension. I’ve also taught Microeconomics at EVC (Evergreen) and currently have one Micro course there this semester. In addition I have another Macro class this quarter at Foothill. 1. Dist. Syllabus/ Schedule and discuss each element 2. Reading to be completed prior to class in which that chapter will be covered You are responsible for all chapter content. It also will help to read the Applications that are in the chapter, the Appendix that will follow some chapters, and the end-of-chapter Summary. 3. Phone number, email address, website – lectures and other class docs will be there This should make note-taking a lot easier since you can just try to note the main points, definitions, lists, etc. and not feel like you need to write down every word of the lecture notes. II. Market Theory contains: The theory of the market economy traces back to the Scottish economist Adam Smith (1723-1790) and the publication of Inquiry into the Nature and Causes of the Wealth of Nations in 1776. Considered by many to be the most influential economics book ever written, it articulates the powerful and wonderfully democratic ideal of a self-organizing economy that creates an equitable and socially optimal allocation of a society's productive resources through the interaction of small buyers and sellers making decisions based on their individual needs and interests.
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Market theory, as articulated by Smith and those who subsequently elaborated on his ideas, developed into an elegant and coherent intellectual construction grounded in carefully articulated assumptions regarding the conditions under which such self- organizing processes would indeed lead to socially optimal outcomes. For example: Buyers and sellers must be too small to influence the market price. Complete information must be available to all participants and there are no trade secrets. Sellers must bear the full cost of the products they sell and pass them on in the sale
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This note was uploaded on 08/04/2008 for the course ECON 1A taught by Professor Patyk during the Spring '08 term at Foothill College.

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chapte1 - Class 1 I. Self Intro This is Econ 1A, Intro to...

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