Slide 1© 2010 Pearson Addison-Wesley Managerial Economics - Lecture 1 Dr. Abdullah Alharbi Basic Concepts of Economics Introduction: Slide 2 © 2010 Pearson Addison-Wesley…

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 1 Slide 2 When you have completed your study of this chapter, you will be able to C H A P T E R C H E C K L I S T Define economics, distinguish between micro- economics…

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 1Second Part Macroeconomics Lecture 7 Macroeconomic Aggregates Slide 2 Macroeconomics Macroeconomics is the field of economics that studies the behaviour of the economy…

Slide 18 THE DATA OF MACROECONOMICS Slide 2 Copyright © 2004 South-Western 23 Measuring a Nations Income Slide 3 Copyright © 2004 South-Western Measuring a Nations Income…

Slide 1© 2010 Pearson Addison-Wesley Slide 2 Slide 3 Definition of Economics All economic questions arise because we want more than we can get. Our inability to satisfy…

1.  2. Chapter Outline 1 The Scope and Method of Economics Why Study Economics? To Learn a Way of Thinking To Understand Society To Understand Global Affairs To Be an Informed…

1. The Five Foundations of Economics1 2. Misconception • Economics is the “dismal science” • Thomas Malthus, economist (1798) – Prediction: due to limited resources…

1. Macroeconomics What is Macroeconomics Lecture 1 2. What is macroeconomics • Macroeconomics is concerned with – The behaviour of economic aggregates • Total national…