9/17/2012 Chapters 1-2 Notes Reading (Chapters 1-2, Skip Circular Flow diagram in ch. 2) Mankiw Text Topics: Basic Principles of Economics relevant T i B i Pi i l fE i l t to Microeconomics & Thinking like an economist For HW, please do Chapter 1 Problems & Applications, #1(same as 5e), #5(same as 5e) & #6(#7 in 5e); Chapter 2, Problems & Applications, #2 (same as 5e) & #6(same as 5e) What Economics Is All About Scarcity: the limited nature of society’s resources Economics:…
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