ECON 1100 1st Edition Lecture 1 Outline of Last Lecture I. Syllabusa. How to work softwareII. How to make beerOutline of Current Lecture I.How to make beera.Reason behind storyII.Decision-makingIII.Economist’s roleIV.How to learn bestCurrent LectureI. How to make beerPeople make-up their own minds about what they want/needWe’re not told what to consume/how much, We have choices & we decideEveryone has freedom to make-up their own mindLuxury of living in capitalist countryNobody is truly in charge of the marketMay have problems but it still worksGoes along with how the consumers make it goII. Decision-makingAll decisions are made within limitsLimits include:LawsThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.MoneyAvailability of resourcesIII. Economist’s roleEconomists are open to different tastes/opinionsUsually tend to have a neutral stance on decisionsIV. How to learn bestWhen asked a broad question, answer depends on what person wants to knowEasier to understand economics by using modelsGraphs &
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