PRINCIPLES OF MICROECONOMICS 7TH EDITION- N. Gregory Mankiw

Read Ch. 1 of Principles of Microeconomics:

• 1-1 How People Make Decisions, pp. 4-8

• 1-2 How People Interact, pp. 9-11

• 1-3 How the Economy as a Whole Works, pp. 12-15 

SUBSTANTIVE POST- 75 WORDS EACH

1. Methods of understanding and applying the Ten Principles of Economics.

2. Consider how economics are applied in a society of consumers.

3. Consider how limited resources apply to an expanding society.

4. Consider how the economy reflects the behavior of the individuals who make up the economy

Read Ch. 2 of Principles of Microeconomics:

• 2-1 The Economist as Scientist, pp. 20-26

• 2-2 The Economist as Policy Adviser, pp. 27-29

• 2-3 Why Economists Disagree, pp. 30-33 

SUBSTANTIVE POST- 75 WORDS EACH

1. Consider how to apply the economic terms, supply, demand, elasticity, comparative advantage, consumer surplus, deadweight loss to the consumer market.

2. Consider your personal experiences in theory, case studies, and examples of economics in the news and how you can apply it to refine your skills.

3. Consider what is distinctive about how economists confront a question.

4. Consider what it means to think like an economist.