ECON 2000 Chapter : ECON2000Fall2012Syllabus
Document Summary
Economics develops methods for the systematic assessment and comparison of favorable and unfavorable outcomes of all individual and group decisions (choices). Economics is a social science designed to explain the nature of the real world. To do this requires the development of theories or abstract stories. But a theory is justified only by its power of application in the world of reality. As such, this course is an introduction to economics as a science: as a body of analytical models (theories) that yield verifiable implications about the real world. The object of this course is not to make you a theorist or practicing economist, but: Your study of economics should make your private decisions more effective, and your views on social issues more subtle and balanced. It may not make you more popular, however. Economics has been called the dismal science because economists are always telling people what is wrong with superficially attractive solutions to social problems. (professor jack hirshleifer).
