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Microeconomics, with dismal Sci ACT Card

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'Microeconomics' is an accessible introduction to the subject, presenting a student-friendly wealth of pedagogy, focusing on real-world economics at work.

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'Microeconomics' is an accessible introduction to the subject, presenting a student-friendly wealth of pedagogy, focusing on real-world economics at work.

30 review for Microeconomics, with dismal Sci ACT Card

  1. 4 out of 5

    Danel Homméus

    As a review of this book, Macroeconomics, third Edition (Krugman and Wells), I will overview the intro and the first chapter. a) The invisible hand, my benefit your cost, good and bad times b) And some of the principles that underlie individual choices (principle 1 and principle, how economies work (principle 5 and principle 9), and finally economy-wide interaction (principle 10 and principle 12). Invisible hand The invisible hand refers to the way in which the individual pursuit of self-interest c As a review of this book, Macroeconomics, third Edition (Krugman and Wells), I will overview the intro and the first chapter. a) The invisible hand, my benefit your cost, good and bad times b) And some of the principles that underlie individual choices (principle 1 and principle, how economies work (principle 5 and principle 9), and finally economy-wide interaction (principle 10 and principle 12). Invisible hand The invisible hand refers to the way in which the individual pursuit of self-interest can lead to good results for society as a whole. This concept was appearing for the first time in a famous passage in the book (The Wealth of Nations) of one of the pioneers of economics, the Scottish Adam Smith. The pursuit of this self-interest also implied either in the production, the distribution or the consumption of goods and services, and the study of this whole activity is what are called economics. The first chapter is also about principles; which are the core of economics and underlie individual choice; such as: Principle 1: people must make choice because resources are scarce. There are at least two factors that constrain people to not have all they want: the limited time and income. Even though someone may have the necessary money to purchase all he/she wants, but the fact is there’s not enough time to use or enjoy all of them. So people need to make choices. Principle 2: the opportunity cost of an item-what you must give up in order to get it-is its true cost. Resources are limited, a choice has to be made about what goods or services to have or not. By making a choice, certainly they have any other goods and services that would be left out, and this is the price to pay for the one you opt for. In economics, this term (the opportunity cost) refers to what you must give up when making a choice. Principle 3: “How much” decisions require making trade-offs at the margin: comparing the costs and benefits of doing a little bit more of an activity versus doing a little bit less. (“How much” is a decision at the margin) Principle 4: People usually respond to incentive, exploiting opportunities to make them better off. As people tend to make choices in each of the situation that presents to them, so incentive would be a key element to encourage and prompt people in making a specific choice rather than another one. The invisible hand and the twelve principles, respectively, for the introduction and the first chapter is the basis to dive into the rest of the book, but also the necessary key element in order to have a better understanding of economics in general.

  2. 5 out of 5

    Kikynov

    .

  3. 4 out of 5

    Tiffany

    Very disappointing. I was hoping for an interesting study, and got anecdotes. And I hated her self-important tone.

  4. 4 out of 5

    Benard

    the book is all about involvement between the government and the house hold behavior,which generates to individual daily life of the consumer.

  5. 4 out of 5

    Ivy

    Had to read for my microeconomics class. Very interesting.

  6. 4 out of 5

    Thủy Nguyễn

    The cartoon is pretty amazing! The author made a great job to get the hard microeconomics across. Though it is impossible to deliver all the knowledge of this vast ocean, I somehow owe her a lot for making it easier to grip and learn. Not easy to flip through rapidly. NO, I still have to start at it a lot, flip forward then backwards.

  7. 4 out of 5

    Chuck

    Fascinating. Joyously Fascinating. As one would expect the final chapters get pretty political, but other than that it is economics described about as well as one can describe them, and in the most layman terms possible. I might read it again!

  8. 4 out of 5

    Foxglow

    Everyone should read.

  9. 5 out of 5

    Dawnie

    I was so mad at the end of this book. I felt like she didn't represent the poor or lower classes at all. She still had a way to go home and eat whenever she felt like it. She needed to be more dedicated to this project. However if she is aiming for the way upper class to at least semi understand the poor, then maybe she shed a small pin light on it. VERY VERY disappointed.

  10. 5 out of 5

    Noah

    Friedman really puts his ill-conceived analogy skills to the test in this astoundingly uninformative book. It's a mish-mash of wild speculation, obvious truths, and irrelevant anecdotes. Anyone who has ever read a newspaper since 1999 already knows everything this book has to offer.

  11. 5 out of 5

    Joe

    A good overview for those who have never done their reading on the subject, but I suspect its sudden bursts of not-so-subtle bias and its very textbook-like tone won't offer much to those more acquainted than I was. At its best, a solid introduction.

  12. 5 out of 5

    martha

    Probably as enjoyable as an econ textbook can be. Yay Paul Krugman. I really enjoyed all the real world stories and examples.

  13. 4 out of 5

    Jane

    Good information.

  14. 5 out of 5

    Tista Kundu

    Not like its macro part

  15. 5 out of 5

    Christine

    I cannot begin to yell you how happy i am that i am FINALLY done with this book!

  16. 5 out of 5

    Jessica

    This book was so well written and helpful that I stopped going to lecture because the book provided me with all of the information I needed in an easily understandable format.

  17. 5 out of 5

    Mark Stewart

    I think that this book was boring but had some good points

  18. 5 out of 5

    Brandon Baker

  19. 5 out of 5

    Wade

  20. 4 out of 5

    PALLAVI CHANDRA

  21. 4 out of 5

    Scott

  22. 5 out of 5

    Saira

  23. 5 out of 5

    M Mcdermott

  24. 4 out of 5

    Adam Zoellner

  25. 5 out of 5

    Scott Richardson

  26. 5 out of 5

    Lisia Neyers

  27. 5 out of 5

    Matt

  28. 5 out of 5

    Vanya Huaman

  29. 5 out of 5

    Joana Leitão

  30. 4 out of 5

    Ricardo Correia

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