Textbook Notes (367,976)
Canada (161,540)
Economics (923)
ECN 204 (281)
Chapter 2

ECN204 Notes Chapter 2.doc

1 Page
88 Views
Unlock Document

Department
Economics
Course
ECN 204
Professor
Christos Shiamptanis
Semester
Fall

Description
ECN204 Notes – Chapter 2 • Economists play two roles o Scientists – try to explain the world  Scientific Method – dispassionate development and testing of theories about how the world works  Make positive statements (attempt to describe the world as it is) • Can be confirmed and/or refuted o Policy Advisors – try to improve it  Make normative statements (attempt to prescribe how the world should be) • Cannot be confirmed and/or refuted • Assumptions o Unrealistic, simple to learn, gives useful insights about the real world o Model – a highly simplified representation of a more complicated reality (used to study economic issues) • Microeconomics o Study of how households and firms make decisions and how they interact in markets • Macroeconomics o Study o
More Less

Related notes for ECN 204

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit