11/12/2023 0 Comments Class job economy simulation![]() ![]() We shall then apply this historical and conceptual framework to discussion topics and case studies drawn from present day economics and contemporary social issues. We will draw from the economic history, political theory, and the history of philosophy in order to acquire a framework for understanding the concepts of justice, liberty, rights, and equality. How can we reconcile these objectives which seem to conflict? Is the protection of individual rights more important than the promotion of the greatest good for all? To what extent can personal liberty and the common good be reconciled? Are current entitlement programs like Medicare unfair to the younger generation? Is our current natural resource usage unfair to future generations? In this course, we will use the philosophical concept of justice to address these and other related questions. But they also have varying degrees of redistribution in order to fund social welfare systems. Is this inequality unjust? Is it a problem economics and public policy should solve? Liberal democracies have traditionally had the protection of private property as a core mandate. Elements of monetary and fiscal policy, international trade, economic development, and comparative economic systems.įree markets excel at producing wealth, but seem to do so at the cost of economic inequality. An examination of a market economy to provide an understanding of how the size and composition of national output are determined. Introduction to economic analysis and its application. ![]() This course will also be accepted by the Economics department as an Econ course, to be counted toward the minor in Economics (or as an Econ elective).Ģ023c_econ0120_dillenberger.pdf 229.66 KB However, general numeracy (facility interpreting and doing numerical graphs, tables, and arithmetic calculations) is very important. There will be little formal theory, and the only pre-requisites are some high-school algebra and having taken Econ 1. Some interactive games will be played in class. This course will introduce and develop some basic ideas from game theory, using illustrations, applications, and cases drawn from business, economics, politics, sports, and even fiction and movies. Game Theory offers several concepts and insights for understanding such situations, and for making better strategic choices. ![]() When making your choice, you have to think what the others will choose, who in turn are thinking what you will be choosing, and so on. In such situations, the outcome of your actions depends also on the actions of others. This course is about strategically interdependent decisions. Econ 1 deals primarily with microeconomics. Theory of supply and demand, costs and revenues of the firm under perfect competition, monopoly and oligopoly, pricing of factors of production, income distribution, and theory of international trade. ![]()
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