gs_-01_--_Economics_11_Markets_and_the_State

gs_-01_--_Economics_11_Markets_and_the_State - Lecture#1...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 ECONOMICS 11 “MARKETS AND THE STATE” Nov. 11, 2008 G. Sicat Econ. 11 - Introduction 2 Lecture #1 INTRODUCTION – ± MY NAME IS GERARDO SICAT. ± I give the lectures two hours a week. ± A discussion-review of the lectures on the third hour is led by a Teaching Fellow. ± The reading list which contains many important announcements is given in a handout and also gives the names of the teaching fellows. Nov. 11, 2008 G. Sicat Econ. 11 - Introduction 3 PRELIMINARIES THE WORD “MARKET” REFERS TO TRANSACTIONS BETWEEN BUYERS (users, demanders) AND SELLERS (providers, suppliers). Buyers and sellers are “economic agents.” THE STUDY OF MARKETS IS THE SUBJECT OF “ECONOMICS.” Nov. 11, 2008 G. Sicat Econ. 11 - Introduction 4 PRELIMINARIES “THE STATE” IS ABOUT THE ROLE OF THE GOVERNMENT IN THE ECONOMY. PRELIMINARIES THE TITLE “MARKETS AND THE STATE” REFERS TO THE INTERACTION OF ECONOMICS WITH THE GOVERNMENT. Nov. 11, 2008 G. Sicat Econ. 11 - Introduction 6 WHO IS THIS MAN? MANNY PACQUIAO! LET US DISCUSS HOW ECONOMICS AND THE STATE RELATE TO HIM
Background image of page 1

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

View Full DocumentRight Arrow Icon
2 MANNY PACQUIAO (like you and me) is an “economic agent” ± An economic agent makes decisions about the use of resources that he owns.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/18/2010 for the course SE 67256 taught by Professor Dr.gerardosicat during the Spring '10 term at University of the Philippines Diliman.

Page1 / 4

gs_-01_--_Economics_11_Markets_and_the_State - Lecture#1...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online