The Economics Perspective Why Study Economics Economic Methodology

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The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -1 Next Slide 1 CHAPTER The Nature and Method of Economics

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -2 Next Slide • CHOICE • OPPORTUNITY COST • COST/BENEFIT • RATIONAL BEHAVIOR • MARGINAL ANALYSIS • TRADE = WEALTH

WHY STUDY ECONOMICS The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics

WHY STUDY ECONOMICS The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -3 Next Slide • Adam Smith • Karl Marx • John Maynard Keynes • Milton Friedman

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -4 Next Slide Scientific Method Hypothesis Testing Theory Law Principles Models

ECONOMIC METHODOLOGY The Economics Perspective Policy Economics Why Study Economics Economic Methodology Macroeconomics and

ECONOMIC METHODOLOGY The Economics Perspective Policy Economics Why Study Economics Economic Methodology Macroeconomics and Microeconomics Theoretical Economics Theories Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -5 Next Slide Facts

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -6 Next Slide Analytical Economics Terminology Generalizations

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -7 Next Slide Analytical Economics Terminology Generalizations Other-Things-Equal ceteris paribus

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -8 Next Slide Analytical Economics Terminology Generalizations Other-Things-Equal ceteris paribus Abstractions

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC METHODOLOGY The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 -9 Next Slide Analytical Economics Terminology Generalizations Other-Things-Equal ceteris paribus Abstractions Graphical Expression

ECONOMIC POLICY The Economics Perspective Why Study Economics Economic Methodology STATING GOALS Macroeconomics and

ECONOMIC POLICY The Economics Perspective Why Study Economics Economic Methodology STATING GOALS Macroeconomics and Microeconomics Pitfalls to Objective Thinking POLICY OPTIONS Key Terms Previous Slide End Show 1 - 10 Next Slide EVALUATION

ECONOMIC GOALS The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC GOALS The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 11 Next Slide What are our goals and objectives?

ECONOMIC GOALS The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

ECONOMIC GOALS The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 12 Next Slide • Economic Growth • Full Employment • Economic Efficiency • Price-Level Stability • Economic Freedom • Equitable Distribution • Economic Security • Balance of Trade

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 13 Next Slide MACROECONOMICS. . .

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 14 Next Slide MACROECONOMICS. . . MICROECONOMICS. . .

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 15 Next Slide MACROECONOMICS. . . MICROECONOMICS. . . Positive Economics Absolute Facts Normative Economics What Ought to be

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 16 Next Slide PITFALLS TO OBJECTIVE THINKING Biases Loaded Terminology

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 17 Next Slide PITFALLS TO OBJECTIVE THINKING Biases Loaded Terminology Definitions

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 18 Next Slide PITFALLS TO OBJECTIVE THINKING Biases Loaded Terminology Definitions Fallacy of Composition

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 19 Next Slide PITFALLS TO OBJECTIVE THINKING Biases Loaded Terminology Definitions Fallacy of Composition Causation Fallacies

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 20 Next Slide PITFALLS TO OBJECTIVE THINKING Biases Loaded Terminology Definitions Fallacy of Composition Causation Fallacies Post Hoc Fallacy

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective

The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking Key Terms Previous Slide End Show 1 - 21 Next Slide PITFALLS TO OBJECTIVE THINKING Biases Loaded. Chapter Terminology Conclusions Definitions Fallacy of Composition Causation Fallacies Post Hoc Fallacy

economics economic perspective marginal analysis scientific method theoretical economics principles generalizations other-things-equal assumption Copyright

economics economic perspective marginal analysis scientific method theoretical economics principles generalizations other-things-equal assumption Copyright Mc. Graw-Hill/Irwin 2002 policy economics tradeoffs macroeconomics aggregate microeconomics positive economics normative economics fallacy of composition “after this, therefore because of this” fallacy BACK END

CHAPTER 2 The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls

CHAPTER 2 The Economics Perspective Why Study Economics Economic Methodology Macroeconomics and Microeconomics Pitfalls to Objective Thinking THE ECONOMIZING PROBLEM Key Terms COMING SOON Previous Slide End Show 1 - 23 Next Slide

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