s Thinking Like an Economist Chapter 2 Copyright o 2001 by Harcourt, Inc All rights reserved. Requests for permission to make copies of any part of the work should be mailed to Permissions Department, Harcourt College Publishers 6277 Sea harbor Drive. Orlando Florida 32887-6777
Thinking Like an Economist Chapter 2 Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department, Harcourt College Publishers, 6277 Sea Harbor Drive, Orlando, Florida 32887-6777
Every field of study has its own terminology Mathematics integrals axioms Psychology vector spaces ego ognitive aw dissonance torts proMissory estoppel venues Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Every field of study has its own terminology Mathematics axioms integrals vector spaces Psychology ego id cognitive Law dissonance torts venues Promissory estoppel
Every field of study has its own terminology Economics Supply Opportunity Elasticity cost Comparative Consumer Surplus advantage Deadweight Demand loss Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Every field of study has its own terminology Economics Supply Demand Elasticity Consumer Surplus Comparative advantage Opportunity cost Deadweight loss
Economics trains you to Think in terms of alternatives Evaluate the cost of individual and social choices。 Examine and understand how certain events and issues are related Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Economics trains you to. . . . Think in terms of alternatives. Evaluate the cost of individual and social choices. Examine and understand how certain events and issues are related
The Economist as a Scientist The economic way of thinking Involves thinking analytically and obJectively. Makes use of the scientific method Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. The Economist as a Scientist The economic way of thinking . . . Involves thinking analytically and objectively. Makes use of the scientific method