Econ 1- 1st class

Econ 1- 1st class - Econ1:FirstClass 17:07 resources,...

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Econ 1: First Class 17:07 Command economy - Economic system in which the government owns the land,  resources, and means of production and makes all economic decisions Problems we will face : If consumers want less gas, how do the producers get the message? Is the minimum wage a good idea? Should it be increased? Principles of economics at UCSB : Econ 1:Microeconomics- look at parts of the economy rather then the whole  thing Macroeconomics: understand how it works piece by piece now lets see how it  works as a whole Learning by doing : Experiments in sections Data posted on web site Theory represented in lecture Learn to distinguish between a theory and a description Principles of economics by Timothy Taylor : Chapters 1,2,3,5,7,8,9 etc… Other supplemental readings: “Is Divorce Underrated”; “The Indifference  Principle”; “Why Your Boss is Overpaid”
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Econ 1- 1st class - Econ1:FirstClass 17:07 resources,...

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