Menu_24_Aug_10 - 1 A question 2 Either/or Choices a Bibi...

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TODAY’S MENU: Tuesday 24 August 2010 I. BUSINESS A. Introduction B. Practice Problems (answers on Moodle) 1. Chapter 1: 6-12, 16-18, 21 II. SUBSTANCE A. Syllabus: a few words B. The basics 1. Economies and economics a. Definitions b. What? How? For whom? Consequences? i. Microeconomics ii. Macroeconomics c. Markets C. Economic reasoning 1. Opportunity Cost and Scarcity 2. The Margin 3. Rationality D. Examples of Economic Reasoning
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Unformatted text preview: 1. A question 2. Either/or Choices a. Bibi the tutor, parts 1 and 2 i. Relevant costs ii. Sunk costs 3. How much/many Choices a. Stasia and the Smorgasbord i. Relevant costs ii. Sunk costs 4. The answer a. Delta and the Mayor i. Relevant costs E. Positive vs. normative economics III. NEXT TIME A. Chapter 2: “The Production Possibility Model…”...
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