lecture2

lecture2 - Lecture 2: Econ 115a Prof. Guinnane and the...

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Unformatted text preview: Lecture 2: Econ 115a Prof. Guinnane and the Worlds Best Teaching Fellows December 27, 2009 Today: Intro to Supply and Demand 1 Plan for today: Course Details Review: Scarcity Opportunity Cost Economic Modeling Demand Supply (maybe next time) Equilibrium (next time) 2 Announcements No Section or Problem Sets this Week Section sign-up to start soon Sections and Homework Next Week Grading 20% Homework, 30% Midterm, 50% Final On a Curve Traditionally, Econ curve is much tougher than Yale College average But, we are going a bit soft. And youre Yalies. If you wanted easy grades you would have gone to Harvard. 3 Last Time Econ = Allocation of Scarce Resources Scarcity Opportunity Cost Opportunity Cost Trade-Offs 4 Other Ideas from Last Time Micro vs. Macro Market Allocation vs. Mixed Econ vs. Govt Normative vs. Positive Model vs. Reality 5 Allocations and Trade-Offs within Household within Firm Markets, connecting households and firms within Govt between Govt, Households and Firms with / between countries, regions, etc....
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lecture2 - Lecture 2: Econ 115a Prof. Guinnane and the...

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