Chapter 1 Preliminaries
Chapter 1 Preliminaries
Topics to be Discussed The themes of microeconomics a hat is a market? ■Rea∨ ersus nomina| Prices a Why study Microeconomics Chapter 1: Preliminaries Slide 2
Chapter 1: Preliminaries Slide 2 Topics to be Discussed ◼ The Themes of Microeconomics ◼ What Is a Market? ◼ Real Versus Nominal Prices ◼ Why Study Microeconomics?
Preliminaries a Microeconomics deals with o Behavior of individual units ◆ When Consuming How we choose what to buy Chapter 1: Preliminaries Slide 3
Chapter 1: Preliminaries Slide 3 Preliminaries ◼ Microeconomics deals with: ⚫ Behavior of individual units ◆When Consuming • How we choose what to buy
Preliminaries a Microeconomics deals with o Behavior of individual units .When Producing How we choose what to produce Chapter 1: Preliminaries Slide 4
Chapter 1: Preliminaries Slide 4 Preliminaries ◼ Microeconomics deals with: ⚫ Behavior of individual units ◆When Producing • How we choose what to produce
Preliminaries a Microeconomics deals with o Markets: The interaction of consumers and producers Chapter 1: Preliminaries Slide 5
Chapter 1: Preliminaries Slide 5 Preliminaries ◼ Microeconomics deals with: ⚫ Markets: The interaction of consumers and producers