ECON-E 201 Lecture Notes - Lecture 1: Resource Allocation, Fallacy, Opportunity Cost
18 Oct 2018
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ECON-E 201 Full Course Notes
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Go to cl sessions; breakout sections for studying and practice (reduces the weight of your nal, add the course points: study groups, o ce hours: mon 2-5pm ; wednesday 1-4pm. Modern principles: microeconomics(most used one in the class: if you don"t understand the book, 4 exams(exam 1: 20%, exam 2: 25%, exam 3: 25%, final: 30%)final:december 10. Tophat, get enrolled in the class for tophat*******(extra credit) Launchpad is a learning tool for the class. (quizzes, ebooks, etc. ) Economics: the study of allocation of scarce resources among competing ends. Economics: science of exchange(politics as exchange, markets) A good economist- wants to know what fully happens(short and long run; all people) Unintended consequences: good, but in a lot of cases bad(minimum wage) ex:a person who supports minimum wage who got moved to -the company might start ring people, in ation, unemployment, prices of resources go up. The broken window fallacy: opportunity cost: a tradeo for your choice.
