AGEC 200 Lecture : 2012.09.06 Intro.docx

• School: McGill University
• Department: Agricultural Economics
• Course: AGEC 200
• Professor: Anwar Naseem

Document Summary

Macro: whole econ interest rates fluctuation, money supply, growing economies. Not just demand and supply: market structure, how firms maximize profits. Minimum wage laws: meant to increase wages of workers. Economists: yes good idea, but if have these, will increase unemployment! Helping a few but hurting more people. To learn how to avoid being deceived by economists (joan robinson: w/o, cannot understand and argue important public policy issues. Most economics that is usable for advising public policy is @ level of an introductory undergraduate course (herb stein: for understanding lots of issues in the world. Useful tool that goes beyond just business side! Just because not on menu doesn"t mean they won"t sell it. If eliminate tall and grande, then won"t get any customers because no choice. So they try and encourage coffee that gives them higher profits, but they don"t mind the people who buy the smaller sizes.