101 lecture 2

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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

    1. 1. ECO 101Microeconomics
    2. 2. Syllabus
    3. 3. RationalIncentives Margin
    4. 4. Science
    5. 5. Science Hard Soft
    6. 6. Most peopleMost of the time
    7. 7. Most peopleMost of the time Economics is a Soft Science
    8. 8. OptimizeTradeoffs
    9. 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. 10. Economic Models
    11. 11. Economic ModelsSimplified Version of Reality
    12. 12. Economic ModelsSimplified Version of Reality Value in Prediction
    13. 13. Incentives Matter
    14. 14. Incentives Matter Change Incentives Change Behavior
    15. 15. Incentives aremore important than goals
    16. 16. Consequencesmatter more than intentions
    17. 17. UnintendedConsequences
    18. 18. Macro Micro
    19. 19. What is Wealth?
    20. 20. What is Wealth?What People Want
    21. 21. Get wealthy by makingothers happy
    22. 22. Global Device
    23. 23. Global Device
    24. 24. Global Device
    25. 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. 26. Ideasoccur in minds not places
    27. 27. Hockey StickTrends
    28. 28. Angus Maddison
    29. 29. Angus Maddison 1AD
    30. 30. Angus Maddison 1 2012AD
    31. 31. $100 Angus Maddison 1 2012 AD
    32. 32. $100Income PerPerson Angus Maddison Per Day 1 2012 AD
    33. 33. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
    34. 34. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
    35. 35. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
    36. 36. $100Income PerPerson Angus Maddison Per Day “The Millennium–Poor Until 1820” $3 1 1820 2012 AD
    37. 37. $100Income PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
    38. 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. 39. SlopePercentage Change Relationships Cause and Effect Areas
    40. 40. Y X
    41. 41. Price Y X Quantity
    42. 42. $Price Y X Quantity Q
    43. 43. $ Q
    44. 44. $ Q
    45. 45. $ Q
    46. 46. $ Q
    47. 47. $ Q
    48. 48. $ Q
    49. 49. The End

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