EC120 Lecture Notes - Lecture 1: Exit Number, Breakfast Cereal, Economic Equilibrium
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EC120 Full Course Notes
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Visit this guy if you have any questions as he appreciates it. Office: 3rd floor of the peter"s building p3096. Prelecture quizzes due monday morning at 8. Analysing the market economy: the strength and weaknesses of the price system, the role of the government intervention in the economy. Economic analysis: environmental policy, domestic tax policy, labour standards, international trade, health policy. A: it is the study of how society manages its scarce (the limited nature of society"s resources, that there is a limited supply of resource water, lumber and wood, oil) resources. How we manage our scarce resources how people decide: what to buy, how much to work, save, and spend. How firms decide: how much to produce, how many workers to hire. How society decides: how to allocate (divide) resources between competing interests (national defense, consumer goods, protecting the environment and other needs) A: it is a branch of economics to study the behaviour of:
