lec01 - 2 Midterm Exams Final Exam Grading Problem Sets: 5%...

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Economics 1 Introduction to Economics Professor Kenneth Train ECONOMICS: How societies use scarce resources to produce valuable commodities and distribute them among people. What goods are produced? What resources are used to produce the goods? Who gets to consume the goods? Scarcity Choice Opportunity Cost Opportunity cost: What we forego when we make a choice. Creation of abundance. .. • Ways to produce more. • Opportunities for mutually advantageous trade. • New products and processes. Economics How to create more benefits with existing scarce resources. Microeconomics: Behavior of individual consumers and firms. Macroeconomics: Behavior of the economy as a whole.
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Course requirements: Lectures Sections Textbook 5 Problem Sets
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Unformatted text preview: 2 Midterm Exams Final Exam Grading Problem Sets: 5% total Midterms: 25% each Final Exam: 45% Each GSI grades his/her students. Expected grade distribution for each GSI: As 25% Bs 35% Cs and below 40% Textbook Principles of Economics, 9 th or 10thedition, by Case, Fair, and Oster Course website http://elsa.berkeley.edu/~train/ec1.html Lecture slides Hardcopy of slides available at Fast Imaging 2022 University Ave between Shattuck and Milvia 510-845-6333 Online at course website Remember . .. Be sure to attend your section in the first week of class, or contact your GSI to say that you want to take the course. Otherwise you will be dropped from the course....
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lec01 - 2 Midterm Exams Final Exam Grading Problem Sets: 5%...

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