Chapter 2 Branches Of Economics Ppt Chapter 2: branches of economics. this document provides an overview of macroeconomics and microeconomics. it defines macroeconomics as dealing with the performance of an entire economy, including concepts like gdp, unemployment, inflation, and macroeconomic models. microeconomics is defined as studying individual markets and decision making of. Principles of economics (chapter 2) economists use models like the circular flow diagram and production possibilities frontier (ppf) to study economic concepts. the circular flow diagram shows how resources and dollars flow between households and firms. the ppf illustrates production tradeoffs and opportunity costs given limited resources.
Chapter 2 Branches Of Economics Ppt Principles of economics i: microeconomics (eco 110) 32 documents. chapter 2 powerpoint slides. course: principles of economics i: microeconomics (eco 110). C:\documents and settings\hellerj\my documents\dilts\e202\lectures.e202.wpd. introduction to economics. lecture notes. economics defined economics is the study of the allocation of scarce resources to meet unlimited human wants. microeconomics is concerned with decision making by individual economic agents such as firms and consumers. Classical economics does recognise that a government is needed for providing public goods, such as defence, law and order and education. 2. neo classical economics. key people: leon walrus, william jevons, john hicks, george stigler and alfred marshall. neo classical economics built on the foundations of free market based classical economics. They are available to download as individual decks below. module 1: economic thinking. module 2: choice in a world of scarcity. module 3: supply and demand. module 4: applications of supply and demand. module 5: elasticity. module 6: macroeconomic measures: gdp and economic growth. module 7: macroeconomic measures: unemployment and inflation.
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