Econ103 - ECON 103 Microeconomics Dr. Malcolm Rutherford...

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ECON 103 Microeconomics Dr. Malcolm Rutherford Office: BEC 340 Office hours: Monday and Thursday 1:30-2:30 or by appointment. Office phone: 721-6481 E-mail: rutherfo@uvic.ca
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Econ 103 Microeconomics Text Web sites Labs Help Centre Study guide exercises Outline Exams Grading Other policies, rules, and regulations
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Part 1 Basic Concepts and Models Interest in economic problems But specific problems and issues change over time General analytic framework—how to think about any economic problem Abstraction and model building Simplified models that capture key general characteristics Empirical testing of models Economics and policy Positive and normative
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Economics Economics is about “the economy” The way in which individuals and social groups “make a living” Provides the material well being of individuals and society Economics can be defined in terms of subject matter or in terms of techniques—choice in the face of scarcity Techniques of economic analysis sometimes applied to non-economic subject matter
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Economic Systems What goods and services to produce How to produce them— technology, specialization, and teams Where and when to produce them How to distribute them—who gets how much?
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Economic Systems The economy and society The economy and technology The Economy and the natural world Economy Society Nature Technology
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Economic Systems Traditional Economies Hunting and gathering societies Command Economies Ancient Egypt, Ancient China, Soviet Union Market Economies The growth of market economies in Europe Mixed Economies The variable place of government
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This note was uploaded on 01/28/2011 for the course ECON 103 taught by Professor Rutherford during the Winter '10 term at University of Victoria.

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Econ103 - ECON 103 Microeconomics Dr. Malcolm Rutherford...

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