Lecture 2 - 1 1 Demand, Supply and the Meaning of...

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Unformatted text preview: 1 1 Demand, Supply and the Meaning of (Economic) Life What did Adam Smith Know? It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. By pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote it Self-interest, competition, markets, S&D, price system Friedmans pencil and 5 Minute U 2 In the News 3 Course Issues ? Questions, Problems - CHAT ROOMS (correct room) Late HW NOT Missed Class do not email unless athletics, university sponsored event, sustained problem (>4) Clickers dont worry about reg yet HW images, careful Slides posted before each Mondays class 2 4 Hybrid Additional Course Issues Additl Online Work this Wednesday Assignment 2B Video, current events, hw explanation, additl quiz on all 5 Adam Smith's Invisible Hand?...
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Lecture 2 - 1 1 Demand, Supply and the Meaning of...

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