• Weekly quizzes via the course website Lecture 1 ECON001 7 Two Main Sections • Mi Microeconomics i • Household and firm behaviour •Taught in weeks 1-5 T h i k 15 • Mid-term exams in week Mid term 7 will be based on Microeconomics topics • Macroeconomics • Aggregate economy and business cycles • Taught in weeks 9-13 • Final exams in week 15 will be based on Macroeconomics topics Lecture 1 ECON001 8 Assessment • Class Participation (10%) p ( ) • Peer evaluation • Self evaluation
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Chapter 1 1. (Rational Self-Interest) Discuss the impact of rational self-interest on each of the following decisions: a. Whether to attend college full time or enter the workforce full time i. Individuals will consider the benefits of attending college full time and the expected cost of doing so. A benefit of attending college full time would be that it has the potential to increase their wage or salary because of increased knowledgebase, network and skills. The expected cost
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Costs of Going to School Melissa Olson Rasmussen College Author Note: This paper is being submitted for Professor Sherwood’s G204 Microeconomics course. Costs of Going to School I had a good idea of what I was getting into when I signed up for classes at Rasmussen. I knew that I wanted to pursue a career in accounting, and in order to do that, I would need to complete schooling and get some sort of degree. When deciding the path I wanted to take, Rasmussen was one of my options. The thing
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properly can provide you with an upper hand against competition. 2. Compare and contrast microeconomics and macroeconomics. How do the 2 approaches interrelate? Use a specific example to explain. Macroeconomics and Microeconomics are both dealing with economics but indifferent levels, Macroeconomics is the study of a country's overall economic issues and Microeconomics deals with economics on an individual consumer,families and individual businesses. They can affect how much
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ASSESSMENT OF MACROECONOMIC Name: Zihan Wang(Hans) Class: A3 Date: 2013-05-28 Title Explain the government's various macroeconomic objective and their importance to UK economic. Is it possible for government to achieve all these objective at the same time? Individuals, governments, firms and nations make selection on apportion rare resources to fulfil their unlimited desire which is economic concern about. Economics can generally be resolved into: microeconomics and macroeconomics. Microeconomics
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Course Description and Scope This course aims to provide a basic understanding of Economics. The first portion of the course will cover topics in Macroeconomics such as Gross Domestic Product, inflation, Unemployment, Fiscal Policy, Monetary Policy, Balance of Payments and Exchange Rate. The second portion of the course will cover topics in Microeconomics such as the theory of consumption, the theory of production and market structures Course Learning Objectives After the course, students should
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economics, I realized that I only learned the basics of macroeconomics. In Chapter 2 I gained some insight on microeconomics. Microeconomics is the part of economics that focuses on the behavior of people and organizations in particular markets. This is a portion that I didn’t study when on the debate team. As we pretended to be policy makers, I was taught that the importance is always the global scenarios. When looking into the microeconomics, I was able to thoroughly understand how different types
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a lender will charge for a loan. In general, when interest rates are high, loans are more expensive, and when interest rates are low, loans are cheaper. As this analysis will demonstrate, interest rates are a macroeconomic factor that can have a significant impact on the microeconomics of agricultural businesses in three major areas of operations: cost of storing inventory, business investments, and general operating risk. First, the cost of storing inventory increases when interest rates increase
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The Business Environment GUILLAUME, ORIS Queena Swanson BUS 100 2/4/2013 The public sector and private sector are terms used to describe the two main types of business industries within an economy. The largest distinction between them is that the public sector is owned and operated by the government, while the private sector is dominated by private business owners. The easiest way to tell the different between the two organizations is to look at who is in charge. In a public sector, employees
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how the economy will impact the completion of an environmental scan, it is essential to cover the concerns that affect the economic aspect whether people want to believe it or not. The first concern is the macroeconomic level or factors which cannot be controlled. Leo Sun describes macroeconomic factors as national or global events which are out of people’s control (Sun, 2013).They have an unpredictability and dangerous side to them that can cause most companies to fail if not managed by an experienced
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