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ECO 365 All Participations

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ECO 365 Week 1 participation Principles of Microeconomics, Ch. 1: Ten Principles of Economics

 

Read Ch. 1 of Principles of Microeconomics:

 

 

 

    • 1-1 How People Make Decisions, pp. 4-8

 

 

    • 1-2 How People Interact, pp. 9-11

 

 

    • 1-3 How the Economy as a Whole Works, pp. 12-15 

 

 

 

Consider the following as you read:

 

 

 

    1. Methods of understanding and applying the Ten Principles of Economics.

 

 

    1. Consider how economics are applied in a society of consumers.

 

 

    1. Consider how limited resources apply to an expanding society.

 

 

    1. Consider how the economy reflects the behavior of the individuals who make up the economy

 

 

 

 

 

 

 

 

ECO 365 Week 1 participation Principles of Microeconomics, Ch. 2: Thinking Like an Economist

 

Read Ch. 2 of Principles of Microeconomics:

 

 

 

    • 2-1 The Economist as Scientist, pp. 20-26

 

 

    • 2-2 The Economist as Policy Adviser, pp. 27-29

 

 

    • 2-3 Why Economists Disagree, pp. 30-33 

 

 

 

Consider the following as you read:

 

 

 

    1. Consider how to apply the economic terms, supply, demand, elasticity, comparative advantage, consumer surplus, deadweight loss to the consumer market.

 

 

    1. Consider your personal experiences in theory, case studies, and examples of economics in the news and how you can apply it to refine your skills.

 

 

    1. Consider what is distinctive about how economists confront a question.

 

 

    1. Consider what it means to think like an economist.

 

 

 

 

 

 

 

 

ECO 365 Week 1 participation Principles of Microeconomics, Ch. 3: Interdependence and the Gains From Trade

 

Read Ch. 3 of Principles of Microeconomics:

 

 

 

    • 3-1 A Parable for the Modern Economy, pp. 48-51

 

 

    • 3-2 Comparative Advantage: The Driving Force of Specialization, pp. 52-54

 

 

    • 3-3 Applications of Comparative Advantage, pp. 55-58 

 

 

 

Consider the following as you read:

 

 

 

    1. Consider how an economy coordinates the activities of millions of people with varying tastes and abilities.

 

 

    1. Consider the reasons for economic interdependence.

 

 

    1. Consider exactly what people gain when they trade with one another.

 

 

    1. Consider why people choose to become interdependent.

 

 

 

 

 

 

 

 

ECO 365 Week 1 participation Principles of Microeconomics, Ch. 4: The Market Forces of Supply and Demand

 

Read Ch. 4 of Principles of Microeconomics:

 

 

 

    • 4-4 Supply and Demand Together, pp. 77-82 

 

 

 

Consider the following as you read:

 

 

 

    1. Consider the combination of supply and demand and how together they make the market economies work.

 

 

    1. Consider how supply and demand affects buyers and sellers behavior and how they interact with one another.

 

 

    1. Consider how supply and demand determine prices in a market economy and how prices, in turn, allocate the economy’s scarce resources

 

 

 

 

 

 

 

 

ECO 365 Week 1 Most Challenging Concepts

 

 

Recall the readings and activities you have completed this week and describe the one or two points that were least clear to you. What questions do you have that would help you understand these points better?

 

 

https://uopcourses.com/sd_product/eco-365-participations-2/ ECO 365 Week 1 participation Principles of Microeconomics, Ch. 1: Ten Principles of Economics Read Ch. 1 of Principles of Microeconomics: 1-1 How People Make Decisio
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