[ECON 1116] - Final Exam Guide - Comprehensive Notes for the exam (80 pages long!)
29 Nov 2016
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Finance person"s job (cfo)- exact amount of money at exactly right time. Price of stocks go down because people are willing to pay less, valuing it less: people believe the value of the company is less. If we think apple will sell more, their profit will be more in the future. We need to buy euros to do trading in europe. Foreign direct investment is good in developed economies. Individual firms, wells fargo pays big fine, who becomes president- micro question. Focus on chapter 2 of the textbook- economic way of thinking. The study of choices to allocate scarce resources given unlimited wants. Economic way of thinking and scientific method. Rational self-interestmaximizeway to realize greatest amount of satisfactionat the time and with the information available make decision that is in their best interest. Decisions are made at the marginfaced with trade- offsmaximize subject to constraintconsider marginal cost/marginal benefit not total benefit. Consider the marginal benefit of candy bars
