ECON 101 Lecture Notes - Lecture 1: Decision Rule, John Maynard Keynes
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ECON 101 Full Course Notes
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Econ 101 - lecture #1 - introduction and basic microeconomic principles. The course will be using iclicker questions extensively. The most important strategy is to study independently. Economics is the study of mankind in the ordinary business of life - alfred marshall. Economics reaches more fundamental concepts, such as human nature, than matters related to money and trade. Economics is the study of how individuals and societies make choices about how to use their scarce resources - anonymous. Allocation and organization of people and resources addressing the issue of scarcity. The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions. Economics does not tell one facts and conclusions. Economics is a method of analysis; a study which can help the thinker to reach certain conclusions.
