101 lecture 2
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101 Lecture 2

101 Lecture 2

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  • In the previous lesson we were talking about the iPhone as a great innovation.\nBut what is “Innovation”?\n
  • In is not true because places don’t design things, people design things. Ideas occur in minds not in places.\n\n
  • Welcome to OneMinuteEcon. In this lesson we want to talk about ideas, inventions, and innovations.\n
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101 lecture 2 Presentation Transcript

  • 1. ECO 101Microeconomics
  • 2. Syllabus
  • 3. RationalIncentives Margin
  • 4. Science
  • 5. Science Hard Soft
  • 6. Most peopleMost of the time
  • 7. Most peopleMost of the time Economics is a Soft Science
  • 8. OptimizeTradeoffs
  • 9. Tradeoffs Mileage SafetyA 2001 National Academy of Sciences study estimated that the trafficdeath toll attributable to past downsizing was approximately 2,000 livesper year.
  • 10. Economic Models
  • 11. Economic ModelsSimplified Version of Reality
  • 12. Economic ModelsSimplified Version of Reality Value in Prediction
  • 13. Incentives Matter
  • 14. Incentives Matter Change Incentives Change Behavior
  • 15. Incentives aremore important than goals
  • 16. Consequencesmatter more than intentions
  • 17. UnintendedConsequences
  • 18. Macro Micro
  • 19. What is Wealth?
  • 20. What is Wealth?What People Want
  • 21. Get wealthy by makingothers happy
  • 22. Global Device
  • 23. Global Device
  • 24. Global Device
  • 25. ARM Holdings Wolfson Marvel Skyworks U.S. CSR Linear Technologies U.K. NXPNational Semiconductor Germany Sharp Korea Samsung Toshiba Japan Infineon Broadcom Taiwan Numonyx Micron China Dialog Semiconductor Texas Instruments STMicroelectronics Silicon Storage RF Microdevices Cirrus Logic
  • 26. Ideasoccur in minds not places
  • 27. Hockey StickTrends
  • 28. Angus Maddison
  • 29. Angus Maddison 1AD
  • 30. Angus Maddison 1 2012AD
  • 31. $100 Angus Maddison 1 2012 AD
  • 32. $100Income PerPerson Angus Maddison Per Day 1 2012 AD
  • 33. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
  • 34. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
  • 35. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
  • 36. $100Income PerPerson Angus Maddison Per Day “The Millennium–Poor Until 1820” $3 1 1820 2012 AD
  • 37. $100Income PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
  • 38. $100 Northern Europe North AmericaIncome 33x PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
  • 39. SlopePercentage Change Relationships Cause and Effect Areas
  • 40. Y X
  • 41. Price Y X Quantity
  • 42. $Price Y X Quantity Q
  • 43. $ Q
  • 44. $ Q
  • 45. $ Q
  • 46. $ Q
  • 47. $ Q
  • 48. $ Q
  • 49. The End