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Macro: Chapter 1 Study

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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
[object Object],[object Object],[object Object],[object Object],[object Object],ECONOMIC METHODOLOGY
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ECONOMIC METHODOLOGY
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ECONOMIC METHODOLOGY
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
MACROECONOMICS...
MICROECONOMICS... MACROECONOMICS...
[object Object],[object Object],[object Object],[object Object],MICROECONOMICS... MACROECONOMICS...
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],PITFALLS TO SOUND REASONING
[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

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Macro: Chapter 1 Study