Thinking Like an Economist Chapter 2 Copyright C 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 m ake copies of any part of the work should be mailed to: Permissions Department, Harcourt Colleg e Publishers, 6277 Sea Harbor Drive, Orlando, Florida 32887-6777
Every field of study has its own terminology Mathematics integrals axioms Psychology vector spaces ego id cognitive Law dissonance torts Promissory estoppel venues
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 advantage Surplus Deadweight Demand loss
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Every field of study has its own terminology Economics Opportunity cost Supply Elasticity Consumer Surplus Comparative advantage Deadweight loss Demand
Economics trains you to Think in terms of alternatives Evaluate the cost of individual and social choices C Examine and understand how certain events and issues are related
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 thin king Involves thinking analytically and objectively. e Makes use of the scientific method
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