ECON 1 Study Guide - Spring 2018, Comprehensive Midterm Notes - Labour Economics, Opportunity Cost, Interest Rate
Document Summary
Read syllabus, check out class website for additional information. Letter of introduction due in section this week. Essay (7%): due at the end of the semesters. Weekly, graded for completeness, ps1 due in section week of 1/22. Optional practice ps available closer to exams. Lecture, textbook, problem sets, readings, up to 2/26. Allowed to miss up to 3 lectures and still get full credit, starts 1/23. 1/16: chapter 2 and skip circulation-flow diagram. No class on 2/22 and 3/13 but regular section. Microeconomics is the study of how consumers and firms make decisions when there are trade offs. Macroeconomics is the study of economy-wide phenomena, including inflation, unemployment, and economic growth. Understand modern society: broad view of society and policy making issues using rigorous tools. Make better choices in your personal finances. Positive statements: attempts to describe the world as it is. Normative statements: attempts to prescribe what to do. (what should be done)
