Lecture 03 and 04
3 Big Questions
1. What What goods and services will be produced and in what quantities?
2. How How will it be produced?
3. Who For whom will the goods and services be produced?
Methods of Organizing an Economy
Things that Shift the Demand Curve:
A change in income of buyers causes a shift in the demand curve.
Normal goods most goods; demand for these goods increases as ones income
increases. When income increase
Lecture 09 and 10
1. What is the difference between a change in the curve and a shift in the curve?
a. They are the same thing
2. Is the complement of a good usually a component of the production of the good like in
Lecture 01 and 02
Models are commonly used in economics because they allow complex ideas and
situations to be simplified
When using models, we will also be using math as a tool to create and explain them.
Micro vs. Macro
Lecture 07 and 08
Center for Entrepreneurship and Innovation:
Located in Bryan Hall rm. 113. Email: Jamie.firstname.lastname@example.org
TedX on campus
o Application/ sign up in Feb.
o Has many volunteer opportunities
Big Idea competi
Production Possibility Frontier (PPF)
Points on the curve are attainable and efficient
Points inside the curve are attainable and inefficient
Points outside the curve are unattainable
The 3 Big Questi