Econ 1.4

Understand what an economist does

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Today's Objective

But First!!

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Take it all in​

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II Continued

A) Opportunity Cost - the value of

what you gave up

AKA the real cost​

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B) Trade Off - giving up one thing to

get another​

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II Continued           

A) Opportunity Cost - the value of

what you gave up

AKA the real cost​

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B) Trade Off - giving up one thing to

get another​

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III The Economist

A) Economist - Study decision

making, choices, producing and

    consuming.

 B) There are 2 levels on which

economics can be studied:

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III The Economist​

A) Economist -

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 B) There are 2 levels on which

economics can be studied:

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1. Microeconomics​

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III The Economist​

A) Economist -

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 B) There are 2 levels on which

economics can be studied:

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1. Microeconomics​ - study

how economy affects individuals

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III The Economist​

A) Economist -

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B) There are 2 levels on which

economics can be studied:

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1. Microeconomics​ - study

how economy affects individuals

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III The Economist​

A) Economist -

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B) There are 2 levels on which

economics can be studied:

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1. Microeconomics​

2 Macroeconomics - ​study of large

parts of the economy

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III The Economist​

A) Economist -

 B) There are 2 levels on which

economics can be studied:

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III The Economist​

Your Ticket out the Door is on the next slide