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Class Notes for ECON 2010 at University of Virginia (UVA)

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UVAECON 2010Elzinga KennethSpring

ECON 2010 Lecture Notes - Lecture 1: Demand Curve, Planned Economy, Mixed Economy

OC17437378 Page
22 May 2017
0
Econ is a science that involves: facts, stories, theories, and metaphors. Adam smith: the invisible hand- a mechanism in which we could benefit for our
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UVAECON 2010Elzinga KennethFall

ECON 2010 Lecture Notes - Lecture 6: Price Controls, Dave Matthews Band, Economic Equilibrium

OC15842783 Page
1 Mar 2017
3
When you want more rather than less, you are acting in rsi. Economics is largely based on people who act rationally. Who gets to attend a concert: mark
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UVAECON 2010Kenneth G.ElzingaFall

ECON 2010 Lecture Notes - Lecture 3: Invisible Hand, Vise, Vending Machine

OC23128508 Page
20 Nov 2017
0
Rational behavior or optimizing behavior means maximizing utility. After first test, good time to read the mystery of the invisible hand . Most are sho
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UVAECON 2010Kenneth G.ElzingaFall

ECON 2010 Lecture Notes - Lecture 1: Positivism, Normative Science, Invisible Hand

OC23128505 Page
20 Nov 2017
0
The central economic problems and the approach of economics. Fact - salsa now outsells ketchup in the us. Story - limitation of building height in dc,
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UVAECON 2010Kenneth G.ElzingaFall

ECON 2010 Lecture Notes - Lecture 2: Marginal Utility, Demand Curve, Economic Equilibrium

OC231285014 Page
20 Nov 2017
0
3 elements: buyers/consumers, sellers/firms, market place (where they come together) 1. taste broad view of what a consumer thinks of a product. Latin
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UVAECON 2010Elzinga KennethFall

ECON 2010 Lecture Notes - Lecture 5: Externality

OC15842784 Page
1 Mar 2017
6
Advertising (madison avenue: attempt to change preferences, therefore changing demand. Religion: affects preferences (food, books, etc. ) Celebrity: ro
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UVAECON 2010Elzinga KennethFall

ECON 2010 Lecture Notes - Lecture 4: Demand Curve, Market Clearing, Public Auction

OC15842784 Page
1 Mar 2017
1
All prices on a graph are what if prices. Hurricane norbert: journalistic thinking: damage will help rebuild the economy, economic thinking: ppc will s
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