gs_-02_--_Economic_Thinking - Lecture #2: ECONOMIC THINKING...

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1 ECONOMICS 11 MARKETS AND THE STATE Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 2 Lecture #2: ECONOMIC THINKING ± NATIONS & PROGRESS: AN EXAMPLE OF ECONOMIC THINKING ± “ECONOMICS” AS A STUDY ± “ECONOMIC THINKING” ± MORE EXAMPLES OF ECONOMIC THINKING Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 3 STUDY OF NATIONS & THEIR PROGRESS: FROM TABLE 1-1 Adult literacy (% of population) Life expect- ancy at birth Output per head (2000 dollars) Country Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 4 Thailand U.S.A. Bangladesh Philippines Japan Indonesia Adult literacy (% of population) Life expect- ancy at birth Output per head (2000 dollars) Country STUDY OF NATIONS & THEIR PROGRESS: FROM TABLE 1-1 Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 5 ECONOMIC DEVELOPMENT OF NATIONS: FROM TABLE 1-1 6,330 Thailand 34,260 U.S.A. 1,650 Bangladesh 4,220 Philippines 26,460 Japan 2840 Indonesia Adult literacy (% of population) Life expect- ancy at birth Output per head (2000 dollars) Country Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 6 ECONOMIC DEVELOPMENT OF NATIONS: FROM TABLE 1-1 69 6,330 Thailand 77 34,260 U.S.A. 61 1,650 Bangladesh 69 4,220 Philippines 81 26,460 Japan 63 2840 Indonesia Adult literacy (% of population) Life expect- ancy at birth Output per head (2000 dollars) Country
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2 Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 7 95 69 6,330 Thailand 99 77 34,260 U.S.A. 41 61 1,650 Bangladesh 95 69 4,220 Philippines 99 81 26,460 Japan 86 63 2840 Indonesia Adult literacy (% of population) Life expect- ancy at birth Output per head (2000 dollars) Country ECONOMIC DEVELOPMENT OF NATIONS: FROM TABLE 1-1 Nov. 13, 2009 G. Sicat - Econ. 11 -- Lecture #2 8 What can we say from the data of Table 1-1? ± People in countries with high output per head have long lives (life expectancy) and high literacy (can read and write). ± Conversely, people in countries with low output per head are poorer, have shorter lives, and are less able to read and write. Can we make these propositions from the data of Table 1-1? ± Scientific question : Do countries with higher output per head enjoy higher standards of living?
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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.

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gs_-02_--_Economic_Thinking - Lecture #2: ECONOMIC THINKING...

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