Macro 2

2. Lecture 2 - Introduction
Macroeconomics

3. Opening
Prayer

4. Quiz
1.When did the world start escaping poverty?
2.What is the foundational scripture for this
class?
1820
D&C 104: 17

5. Quizmaster
1. Ten Questions
2. Three answers for each question
3. Email to Connor at by 3:00pm
cjh425@go.byuh.edu
4. One Extra Point on Exam

6. Economics
The study of how
human beings solve
each another’s
problems

7. Words
Numbers
Illustrations

8. Economist’s
Dictionary

9. Yabut
Yes, but
Weight Costs and
Benefits

10. Science
Hard
Soft

11. Most people
Most of the time
Economics is a
Soft Science

12. What are the two
questions
economists always
ask?

13. Compared to what?
Then what happens?

15. Price is more valuable
information than
quantity

16. Opportunity Costs
You buy things with
money and time

17. What does it cost
to go to a movie?

18. Comparative
Advantage

19. Adam Eve
Total
Hours
Make a
Hook
3 2 5
Catch
a Fish
4 1 5
Total
Hours
7 3 10
No Trade
2 Hooks and 2 Fish
10 Hours - 5 Hours per Fish

20. Adam Eve
Total
Hours
Make a
Hook
Cost 3/4
fish
Cost 2
fish
Catch
a Fish
Cost 4/3
hooks
Cost 1/2
hooks
Total
Hours
Do-It-Yourself Costs

21. Adam Eve
Total
Hours
Make a
Hook
2 hooks
6 hours
6
Catch
a Fish
2 fish
2 hours
2
Total
Hours
6 2 8
With Trade
2 Hooks and 2 Fish
8 Hours - 4 Hours Per Fish

22. Where
is the
iPhone
made?

24. ARM Holdings
Wolfson
Marvel
Skyworks
CSR
Linear Technologies
NXP
National Semiconductor
Sharp
Samsung
Toshiba
Infineon
Broadcom
Numonyx
Micron
Dialog Semiconductor
Texas Instruments
STMicroelectronics
Silicon Storage
RF Microdevices
Cirrus Logic
U.S.
U.K.
Germany
Korea
Japan
Taiwan
China

25. Made on Earth

26. Design
Manufacturing Parts
Assembly
Packaging
Shipping
Marketing

28. What would you
have to be paid
to never use the
Internet again?
Then you must
be a millionaire