Macro: Chapter 1 Study

The Nature and Method of Economics 1 C H A P T E R

The Economics Perspective Consider... ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WHY STUDY ECONOMICS plus many modern contributors... ,[object Object],[object Object],[object Object],[object Object],[object Object],Economics for Citizenship Professional & Personal Applications

ECONOMIC METHODOLOGY Scientific Method Hypothesis Testing Theory Law Principles Models

Theories Facts Policy Economics Theoretical Economics ECONOMIC METHODOLOGY

Analytical Economics Terminology Generalizations ECONOMIC METHODOLOGY

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ECONOMIC POLICY STATE THE GOAL POLICY OPTIONS IMPLEMENT & EVALUATE

What are our goals and objectives? ECONOMIC GOALS

T R A D E O F F S ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ECONOMIC GOALS Identify the

MICROECONOMICS... MACROECONOMICS...

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[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Key Terms policy economics tradeoffs macroeconomics aggregate microeconomics positive economics normative economics fallacy of composition “after this, therefore because of this” fallacy END BACK Copyright McGraw-Hill/Irwin, Inc. 2005

THE ECONOMIZING PROBLEM CHAPTER 2 COMING SOON

Macro: Chapter 1 Study

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Macro: Chapter 1 Study