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Canada (509,932)
Economics (1,296)
ECN 340 (202)
Lecture

lower liberal

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Department
Economics
Course
ECN 340
Professor
Thomas Barbiero
Semester
Fall

Description
The Economics of Human Behaviour Meaning of Economics: • Thought process, or the unique manner in which we approach problems • A mental skill that incorporates a special view of human behaviour • Arises because of (a) Unlimited desires, and (b) Limited resources to satisfy those desires • Desires are not always material things (time, life partner, etc) • Minimize desires to attain them; maximize resources to attain desires • People exchange goods and services Abstractions: • Simplification • Theory and models • Acceptability – Explains and predicts Thinking About Values: • Amoral approach – Not passing judgement onto others • Devoid of our own values • Understanding behaviour of others given their values Thinking About People: • Focus is the individual • Individuals have values, makes choices and take actions • Social goals reflect individual values • Actions not determined by group/society; though can be influenced Thinking
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