econ final review guide

econ final review guide - Austrian/classical (Hayek)...

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Final Exam Review Review all lectures and notes on major principles: • Say’s Law of Markets • The Law of Comparative Advantage • The Law of Diminishing Marginal Utility • The Law of Diminishing Marginal Returns • Price and wage equalization • Price-equalization through time • Price arbitrage/speculation • Rate of return equalization • Invisible Hand • Time preference and discounting • Derived Demand and expected MRP Review key differences (cause-effect) in macro theories:
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Unformatted text preview: Austrian/classical (Hayek) Monetarists/classical quantity theory (Milton Friedman) Supply-siders (Art Laffer) New Classical/Ricardian Review lessons learned: Price and wage controls The internet The 2008 housing bubble crisis The Great Depression Growth and development (keys/rules) The economics of health care The Phillips Curve/1970 stagflation Public Choice Theory...
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This note was uploaded on 02/19/2012 for the course ECON 101 taught by Professor Balaban during the Fall '07 term at UNC.

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