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Syllabus for ECN 001A David Rapson

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redhorse12
19 Jan 2022
School
UC-Davis
Department
Economics
Course
ECN 001A
Professor
David Rapson

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ECN 001A Full Course Notes
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ECN 001A Full Course Notes
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Document Summary

Course description: this course is an introduction to the concepts and tools used by economists to understand markets. We will analyze and seek to understand why the price system produces benefit for society by allocating scarce resources efficiently. We will also discuss limits to the price system, the perception of economics in society, and the role of public policy in our world. Course website: the textbook and all homework-related questions and resources are posted on the modules link of the course site, which can be found on http://canvas. ucdavis. edu. Monitor your ucd e-mail: important information about the course will be disseminated via email to the class list. It is your responsibility to check your ucd registered email account. Please note that university policy dictates that grades cannot be distributed by email. Required text: principles of microeconomics by gregory mankiw. On the course website you will find links to the textbook and related material.

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Related Questions

Which one of the following is the most accurate definition of economics? 

(a) Economics is the study of stocks and bonds.

(b) Economics is the study of how people allocate unlimited resources.

(c) Economics is the study of how consumers choose to spend their income.

(d) Economics is the study of how society chooses to allocate scarce resources.

Economics is the study of how society chooses to allocate its scarce resources. In a mixed economy, elements of both central planning and market resource allocation are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by means of markets. Discuss whether you favor a larger or smaller role of government in the economy. Refer to concepts found in the reading to support your opinion.

true or false

Human and nonhuman resources are the inputs used to produce goods and services.

Since resources are scarce, society must make choices about what to produce.

Consumers decide what gets produced in Japan.

Microeconomics is the study of aggregate behavior in the economy.

The three basic questions in economics are who, what and why.

The law of demand states that the quantity demanded of any good is inversely related to its price.