Chap1 - Krugman and Wells Intro and Chapter 1 Steven J....

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Krugman Krugman and Wells and Wells Intro and Chapter 1 Intro and Chapter 1 Steven J. Haider EC201 Spring 2010
Background image of page 1

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

View Full DocumentRight Arrow Icon
EC201-1-p2 What is economics? What is economics? What it is: Standard def: “the study of the allocation of scare resources” A social science A framework for thinking about actions and interactions Actions of individuals, firms, governments, etc. This “framework” or “tool box” allows us to work on a variety of problems This framework is often very mathematical—which has both pros and cons as a social science What it isn’t: Business Forecasting / stock picking
Background image of page 2
EC201-1-p3 Examples from Examples from my my research research Do school nutrition programs help children? Primary decision makers: families/children Quick details: programs could increase/change food consumption, or displace existing food consumption Finding: very effective programs Do social security rules affect elderly work behavior? Primary decision makers: the elderly Quick details: substantial benefit reductions for annuitants who work Finding: benefit reductions greatly affect work decision Did welfare reform affect breastfeeding (home time)? Primary decision maker: moms on welfare Quick details: many states instituted strict work requirements, even for new moms Finding: substantial reductions in breastfeeding with strict work requirements (“unintended consequences”) See my faculty website for study details
Background image of page 3

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

View Full DocumentRight Arrow Icon
EC201-1-p4 More introductory More introductory defintions defintions [NOTE: I’m not a stickler for particular definitions. Instead, I want you to know broad concepts.]
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/18/2010 for the course ECONOMIC Ec 201 taught by Professor Haider during the Spring '10 term at MSU - Iligan Inst of Tech.

Page1 / 12

Chap1 - Krugman and Wells Intro and Chapter 1 Steven J....

This preview shows document pages 1 - 5. Sign up to view the full document.

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