Week Day Information #2 Class # and Assignment Topic Monday, No Class ILA#2 open and is due at 8:00 am on Monday, September September 5 12th Unit One Homework Help sessions start this week. Tuesdays and Thursdays from 2-3 in BUS 252 with Teaching Assistant Steve Schwartz. Wednesday, Class #4 Finish up QuickStart activities #1-10 activities #1-#10 are due by Friday, September 9th QuickStart September 7 Fundamentals at 5:00 pm. #9 and #10 also count as Independent QuickStart Learning Assignment #1 Parts One and Two. ILA#2 opened on Monday, September 5th and is due at 8:00 am on Monday, September 12th Friday, Class #5 Finish up QuickStart activities #1-10 ILA#2 opened on Monday, September 5th and is due at 8:00 September 9 Fundamentals am on Monday, September 12th Learning Objectives for week #2: Fundamentals Define microeconomics and macroeconomics. Identify the various resource categories used in economics. Define scarcity and explain its importance in economics. Identify the opportunity cost of a choice. Explain rational decision making. Define marginal benefit and marginal cost. Describe the relationship between marginal benefits and costs in equilibrium. Explain how resources are combined to produce output. Construct and interpret a production possibilities frontier. Calculate and explain opportunity cost using a production possibilities frontier. Identify comparative advantage using opportunity costs. Identify patterns of specialization using comparative advantage. Identify the terms of trade using comparative advantage. Illustrate the gains from trade in a production possibilities frontier model. Illustrate how increasing opportunity costs affect the production possibilities frontier. the flow of resources, output, and monetary transactions in a simple economy
Week #2 Day Class # and Topic Assignment Information Monday, September 5 No Class ILA#2 open and is due at 8:00 am on Monday, September 12th Unit One Homework Help sessions start this week. Tuesdays and Thursdays from 2-3 in BUS 252 with Teaching Assistant Steve Schwartz. Wednesday, September 7 Class #4 Fundamentals Finish up QuickStart activities #1-10 QuickStart activities #1-#10 are due by Friday, September 9th at 5:00 pm. QuickStart #9 and #10 also count as Independent Learning Assignment #1 Parts One and Two. ILA#2 opened on Monday, September 5th and is due at 8:00 am on Monday, September 12th Friday, September 9 Class #5 Fundamentals Finish up QuickStart activities #1-10 ILA#2 opened on Monday, September 5th and is due at 8:00 am on Monday, September 12th Learning Objectives for Fundamentals week #2: Define microeconomics and macroeconomics. Identify the various resource categories used in economics. Define scarcity and explain its importance in economics. Identify the opportunity cost of a choice. Explain rational decision making. Define marginal benefit and marginal cost. Describe the relationship between marginal benefits and costs in equilibrium. Explain how resources are combined to produce output. Construct and interpret a production possibilities frontier. Calculate and explain opportunity cost using a production possibilities frontier. Identify comparative advantage using opportunity costs. Identify patterns of specialization using comparative advantage. Identify the terms of trade using comparative advantage. Illustrate the gains from trade in a production possibilities frontier model. Illustrate how increasing opportunity costs affect the production possibilities frontier. the flow of resources, output, and monetary transactions in a simple economy
econ_2301_001_fall16_doty.docx