What you missed us cover in class:
Marginal Utility and Opportunity Cost
Factors of Production Simulation
Levels of Questioning Discussion
Socialism vs Capitalism
Business Cycle Vocab and Concepts
Circular Flow Diagram Preview
Mod 1 and 2 Student questions
Production Possibilties Curve
Allocative vs Productive Efficiency
Comparative vs Absolute Advantage
How do we calculate comparative advantage?
Macro vs Micro Econ
Comparative Advantage Practice Problems
Positive vs Normative Economics
Laws of Supply/Demand
Why is Equillibrium naturally occuring?
S&D Practice Problems
Inferior vs Normal Goods
Practice S&D graphing
Substitutes and Complements- PPs
Shifters of Supply and Demand- go over
Intro S&D planet moneys
Practice Substitute/Complement graph
Simultaneous Shifts of S&D
Price Floors/Price Ceilings
Review for Quiz
Quiz Sec 1&2
What is Counted in GDP? -Problems
What is NOT Counted?
Nominal vs Real GDP
What is Not Counted in GDP?
GDP per capita
Intro Unemployment- Types and Natural Rate
Unemplomyent Equations- Defintions
Unemployment Practice Problems
What is inflation?
Costs of Inflation- Venezuela
Hyper-inflation vs gradual inflation