ECON 100-03, Introduction to Economics, Fall 2011

Abstract

The purpose of a principles course is to acquaint the student with the economic way of thinking. We begin with the assumption of rational behavior, and work through explanations of consumer and producer actions in markets as well as consequences of government intervention in markets. The bit of macroeconomics we features less emphasis on modeling and more on understanding institutional arrangements. We will not learn how to forecast stock market trends! Principles of economics requires a lot of work to learn it well. Your investment of time and effort will be richly rewarded with a thorough understanding of the economic point of view. As in all economics courses, slow and steady wins the race: if you read the text daily, attend each class, and work all the problems in the study guide, you can’t help but learn economics well. Cramming tends to impose harsh penalties in economics, but daily study will help reveal the beauties of this particularly applicable body of thought. You are always welcome to raise questions in class. Any question you ask will also be in the minds of at least 6 of your classmates (a well-known regularity of human behavior). The only stupid question is the one you don’t ask. Feel free to drop in on me during office hours or email me to set up a different time to meet if you want help.