1. Economist 2. Thinking Like an Economist Every field of study has its own terminology Mathematics integrals  axioms  vector spaces Psychology ego …

1. WHAT IS ECONOMICS? 1 CHAPTER 2. Objectives After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics…

Slide 1Banjonomics: An Introduction to the World of Economic Thinking Mark C. Schug, Ph.D. University of Wisconsin- Milwaukee February 5, 2010 Slide 2 Overview Perspectives…

Slide 1NEXT The Economic Way of Thinking Slide 2 NEXT Chapter 1: The Economic Way of Thinking Scarcity is the situation that exists because wants are unlimited and resources…

Slide 1What Is Economics? CHAPTER 1 Slide 2 After studying this chapter you will be able to Define economics and distinguish between microeconomics and macroeconomics Explain…

Slide 1Regulation and Antitrust Law CHAPTER 14 Slide 2 After studying this chapter you will be able to Explain the economic theory of government and how government activity…

Slide 1WHAT IS ECONOMICS? 1 CHAPTER Slide 2 Objectives After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics…

Slide 1REGULATION AND ANTITRUST LAW 14 CHAPTER Slide 2 Objectives After studying this chapter, you will able to Explain how government arises from market failure and redistribution…

Slide 1CHAPTER 1 The Economic Way of Thinking Slide 2 KEY CONCEPTS Economics study of how people use resources to satisfy wants how individuals/societies choose to use resources…

Slide 1Overview The Economic Way of Thinking Slide 2 The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method…