Introduction

Introduction - EC101 B1 & E1 Manove...

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Unformatted text preview: EC101 B1 & E1 Manove Introduction EC101 B1 & E1 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 dont be late for class. ! EC101 B1 starts promptly at 11:00. ! EC101 E1 starts promptly at 2:00 Introduction p 2 ! EC101 E1 starts promptly at 2:00. 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 ! 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: ! Andrea Canidio [B2,B3,E7] ! Gabriel Fernandez [B4,B5,E2] ! Evan Gee [B7,B8] ! Francisco Pino [E4,E5,E9] ! Martino Tasso [E3,E6,E8] ! Nilay Yilmaz [B6,B9] Introduction>Course Staff p 4 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 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 EC101 B1 & E1 Manove Robert Frank uses the phrase economic naturalist to describe someone who thinks like an economist. Ill probably call her an economic thinker. How can you learn to think like an 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 cant have everything we want. 4. Making reasonable choices requires us to compare costs and benefits. Introduction>Thinking>Basic Principles p 10 EC101 B1 & E1 Manove 5. Marginal benefits and costs should be Basic Principles 2 compared. 6. People respond to incentives sometimes in unexpected ways....
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Introduction - EC101 B1 & E1 Manove...

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