econ102 coursepack.pdf - Table of Contents Chapter 2...

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Table of Contents Powerpoints in this order: Chapter 1 and Thinking Like an Economist I, Pencil Chapter 2 Chapter 3 Chapter 4 Chapter 5 Saving Fisheries Chapter 6 Chapter 10 Chapter 18.1 Chapter 11 Chapter 12 Chapter 15 Chapter 16 Chapter 13 Chapter 14 Outside Works : I, Pencil Opportunity Costs and Hidden Inventions LED Lighting and Electricity Demand Saving Fisheries with Free Markets Unfair Competition with the Sun The Parable of the Parking Lots Supplemental Guides (use these for another presentation of the material if you need it): Math and Graphing Review Thinking Like an Economist Opportunity Cost Review Consumer Choice and Marginal Utility Assignments : Elasticity Practice Assignment Political vs. Market Choice Assignment Political vs. Market Choice Assignment (copy for student retention)
Important Information This course pack is not to be used as a substitute for coming to class. All material covered during class, including discussions and video, have the possibility of appearing on homework and/or exams. This pack is designed to give you a template of notes to be filled in during class time along with readings from outside the book, homework assignments, and practice assignments. Be advised that additional topics not in the pack may be discussed in class. Even though these topics are not in the pack, you are responsible for taking notes on them when they are discussed in class and they could appear on homework or exam questions. You will also be responsible for taking notes and understanding the concepts that will be shown in videos and demonstrations during class time. In sum, the note pack is not meant to be used as a substitute for coming to class, but rather as a complement to your note taking. Some materials in the note pack are taken from the course textbook.
5/22/2017 1 Chapter 1 Economics: Foundations and Models & Canvas/Coursepack: Thinking Like an Economist Chapter Summary & Learning Goals 1.1 Three Key Economic Ideas Explain these three key economic ideas: People are rational; people respond to economic incentives; and optimal decisions are made at the margin. §People must make choices as they try to attain their goals. People make choices because resources are scarce. 1.2 The Economic Problem That Every Society Must Solve Discuss how an economy answers these questions: What goods and services will be produced? How will the goods and services be produced? Who will receive the goods and services produced? §A limited amount of resources will produce a limited amount of goods and services. §The cost of producing more of one good is the value of what must be given up to produce it. 1.3 Economic Models Describe the role of models in economic analysis. §Economists use models—simplified versions of reality—to analyze real‐world issues. 1.4 Microeconomics and Macroeconomics 1.5 Appendix: Using Graphs and Formulas Use graphs and formulas to analyze economic situations.

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