Test1 Macro & Micro Check List FL 2017.pdf - Students...

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Students should know their definitions which are often highlighted in bold in the textbook and also listedin the end of the chapter summary.Occasionally, there may be concepts that are not covered insufficient detail in the textbook.I will point this out in the video lecture and give you the necessarybackground and detail.In Mindtap, you are able to create flashcards which may be a helpful tool.Anotherresource in Mindtap is “self-tests” on the specific topics you are struggling with.You also have the optionof answering the end of chapter questions.The bullet points in each chapter outlined in this guide areintended to serve as a guide to highlight key concepts that I expect a student to know.Chapter 1 What Economics Is AboutMainly definitions.Give an example of a Macroeconomic and a Microeconomic issue.Use marginal analysis to calculate marginal cost and marginal benefits and decide if an individualshould proceed with an action based on marginal analysis.Give an example of incentives and unintended effects.Identify the different resources and give an example of each category.Make a positive economic statement and a normative economic statement.Use the termCeteris Paribuscorrectly.Explain the purpose of building a theory and the importance of testing a theory.Chapter 2 Production Possibilities Frontier FrameworkKnow the Three fundamental Economic Questions and apply these questions to exampleso

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Term
Summer
Professor
GOSSELIN
Tags
Microeconomics, Supply And Demand, Demand Curve Shifts, supply graph, Binding price floor

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