Class Notes at George Mason University (GMU)

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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture 10: Lecture 10

OC10640843 Page
28 Jul 2016
13
Current account book = exports-imports: all exports and imports recorded here, money goes back to country in form of goods, current account is all tran
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 8: Price Ceiling, Price Floor, Panera Bread

OC10640844 Page
28 Jul 2016
14
Means that market value is higher than equilibrium. Ex: you are selling a bill for a maximum of . So people will compete to increase their chances of
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 9: Mercantilism, Free Trade, Protectionism

OC10640843 Page
28 Jul 2016
8
Economics of trade (international trade: 90% of economists support free trade, countries don"t trade; individuals trade, state of economic thinking bef
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GMUECON 103Prof.Donald J.BoudreauxFall

ECON 103 Lecture Notes - Lecture 1: Microeconomics, Vise, Atmospheric Pressure

OC10989693 Page
25 Aug 2016
21
It has a wide scope that asks and answers how recourse is arranged in the way it is. We leave in a world of inescapable scarcity :- Scarce doesn"t mean
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 5: Ramen, Styrofoam, Demand Curve

OC10640847 Page
28 Jul 2016
8
As price goes up, quantity demanded goes down. These are the 6 determinants (factors) of demand: these cause demand to change, not quantity. Consumer t
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 12: Gordon Tullock, Public Good, Comparative Advantage

OC10640845 Page
28 Jul 2016
4
The more we buy abroad, the less is being bought in america. So the less demand there is in america, the less jobs there are available. When americans
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 13: Election 2, Typset And Runoff, Public Choice

OC10640848 Page
28 Jul 2016
8
One story/theory of government is public choice. People operating publicly are the same as people operating privately. The ultimate purpose of governme
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 4: Apple Pie, Bulldozer, Capital Good

OC10640843 Page
28 Jul 2016
5
Consumption goods: goods meant for ultimate consumption: ex: bananas, fish, milkshakes, vacations, wine, etc. Capital goods (tools): not meant to be co
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 3: Ceteris Paribus, Ad Hominem

OC10640845 Page
28 Jul 2016
9
Economics is described as: positive analysis (statements): It is rather right or wrong, independent from someone"s opinion. Ex 1: if i drop this pen, i
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 7: Arbitrage, Price Ceiling

OC10640843 Page
28 Jul 2016
6
Law of one price (not really a law. Ex 1: safeway and giant are selling the same type of milk at very similar prices. Violation (not an example): you w
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GMUECON 103Donald BoudreauxSpring

ECON 103 Lecture Notes - Lecture 11: Real Steel

OC10640843 Page
28 Jul 2016
7
Diadic trade relations: looking at 2 countries and determining what"s happening between them, it is not bad if you import more than you export. Ex: it
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GMUBIOL 213GrantFall

BIOL 213 Lecture Notes - Lecture 1: Prokaryote, Archaea

OC4897123 Page
13 Sep 2015
33
Biology has to encompass all physics and chemistry into living organisms. Cells make up are living organisms; many are just one cell :) All living thin
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