lectur1 - Remember my office is 4332 Nelson Hall and my...

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Remember, my office is 4332 Nelson Hall, and my phone number is 515-4676. If you have questions, please do not hesitate to come by the office, call or reach me via e-mail. The syllabus let’s you know when I am in class or lab, and when I am usually in my office. I am on several committees, and am often active with student organizations. These activities often require that I be out of the office at certain times during the semester. I will try to let you all know when I will not be in my office. If you call and my voice mail answers, please leave a message. If my phone rings once or twice and voice mail picks up I am in the office talking on the phone rings once or twice and voice mail picks up, I am in the office talking on the phone to a student, alumni, colleagues, or perhaps family. If my phone rings four or more times and voice mail answers, I have stepped out of the office for a moment to get a soft drink or go to the rest room. Please leave a message. My e-mail address is: [email protected] That little dash thing between my first name and last name is called an “underscore.” You press the “shift” key and hold it down, then press the “dash” key. That “dash” key is located next to the “zero” key on my keyboard. 1
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Associate microeconomics with the individual “trees” in a very large forest. Some of the “trees” are known as consumers, some can be referred to as resources owners, and some can be called business firms. Microeconomics studies the behavior of these individual “trees” that we also consider to be individual decision making units. Microeconomics can also study “clumps of trees” that we can refer to as a group of consumers (ie. African-Americans between the ages of 18 to 25), a group of business firms collectively known as an industry (ie. the swine industry in North Carolina), or a group of resource owners (ie. farmland owners in North Carolina). Of course, these broad classifications do overlap each other. Virtually everyone in our economy is a consumer of goods and services, and we shall learn that we are all resource owners as well. When we visit a grocery store and purchase items, we are considered consumers. When we sell our physical and mental abilities to employers, we are resource owners. When we produce a good or service and sell it for a particular price, we are considered producers. So it is possible for an individual to be all three! 2
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Associate macroeconomics with studying the “forest” as a whole. We can study the “general health of the forest”, the “general growth rate of the forest”, determine which portions of the “forest” might be having some trouble(disease, or pest problems). Rather than looking at individuals (trees), or small groups of individuals (clumps of trees); macroeconomics focuses on how well the economy as a whole is functioning and in what direction the economy may be heading.
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lectur1 - Remember my office is 4332 Nelson Hall and my...

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