Introduction

Introduction - EC101 B1 E1 Manove Introduction EC101 B1 E1...

Info icon This preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
EC101 B1 & E1 Manove Introduction EC101 B1 & E1 Microeconomic Analysis Introduction p 1 EC101 B1 & E1 Manove Announcements Check the course website frequently: http://www bu edu/econ/faculty/manove/EC101 http://www.bu.edu/econ/faculty/manove/EC101 No discussion sections until next Monday No discussion sections until next Monday. Be sure that you are registered for Aplia (instructions on course website). You can confirm payment later. Please don’t be late for class. EC101 B1 starts promptly at 11:00. EC101 E1 starts promptly at 2:00 Introduction p 2 2:00.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
EC101 B1 & E1 Manove Course Staff Instructor: Michael Manove I will teach EC101 B1 and E1 as a unit. Lectures on the same day will be similar. But you must attend your own lecture But you must attend your own lecture. Head Teaching Fellow for B1 and E1: Evan Gee Evan will give me and the other TFs feedback on our teaching. Introduction>Course Staff p 3 EC101 B1 & E1 Manove Discussion-Section Staff Teaching Fellows: A d C idi [B2 B3 E7] Andrea Canidio [B2,B3,E7] Gabriel Fernandez [B4,B5,E2] Evan Gee [B7,B8] F i Pi [E4 E5 E9] Francisco Pino [E4,E5,E9] Martino Tasso [E3,E6,E8] Nilay Yilmaz [B6,B9] Introduction>Course Staff p 4
Image of page 2
EC101 B1 & E1 Manove How to get an A in EC101 Introduction>How to get an A p 5 EC101 B1 & E1 Manove How to Get an A, 2 Introduction>How to get an A p 6
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
EC101 B1 & E1 Manove Economists If you call yourself a “doctor” and treat patients patients,… you will be arrested for “practicing without a you will be arrested for practicing without a license.” Introduction > Economists p 7 EC101 B1 & E1 Manove Thinking like an economist Bricklayers, baseball players and bartenders have a special way of thinking… So do economists So do economists. Introduction>Thinking p 8
Image of page 4
EC101 B1 & E1 Manove R b t F k th h Robert Frank uses the phrase “economic naturalist” to describe h thi k lik someone who thinks like an economist. I’ll probably call her an “economic thinker.” How can you learn to think like an i t? economist? Here are some basic principles Here are some basic principles. Introduction>Thinking p 9 EC101 B1 & E1 Manove Some basic principles of economic thinking. 1. Economics is easier to understand when you think about the goods (not the money). 2. Everything has a cost. 3. Resources are scarce. We can’t have everything we want. 4. Making reasonable choices requires us to compare costs and benefits. Introduction>Thinking>Basic Principles p 10
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
EC101 B1 & E1 Manove 5. Marginal benefits and costs should be Basic Principles 2 compared. 6. People respond to incentives— sometimes in unexpected ways. 7. The best incentives come from prices that correctly reflect all costs. Introduction>Thinking>Basic Principles p 11 8. Statistical findings are often misleading. EC101 B1 & E1 Manove 1. Think about the goods (not the money) Example: Black Monday (Oct 19, 1987) Introduction>Thinking>1 Goods Not Money p 12
Image of page 6
EC101 B1 & E1 Manove Let’s look at the goods: Follow Goods 2 Did factories disappear on Black Monday?
Image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern