PPT-The Economic Approach What is Economics About?

Scarcity and Choice Scarcity and choice are the two essential ingredients of an economic topic Goods are scarce because desire for them far outstrips their availability from nature Scarcity forces us to choose among available alternatives . Presentation . 7. Petr. Wawrosz. German Historical School. Absolutist versus relativist approach. Absolutist approach: tends to believe that there are some objective, absolute “facts or truths” about the perceptions and patterns of economic behavior that cross cultural, temporal and social boundaries. These beliefs and patterns of behavior are perceived as universal. They are believed to apply in every society at all times in similar ways.. DEE 2011. London: September 2011. Dr Wayne . Geerling. , School of Economics & Finance, La Trobe University. “Most students who take introductory economics seem to leave the course without really having learned even the most important basic economic principles” (Frank, 2006). Economic Reality. The Economic Myth . Economic choices involve only money.. Economic Reality. Economics focuses on choices, the choices that we make every day. Both as individuals and as a society.. Economics. What is Economics About?. Scarcity and Choice. Scarcity and choice are the two essential ingredients . of an economic topic.. Goods are scarce because desire for them far outstrips their availability from nature.. 1. 1. 1. 1. 1. 1. What is . Economics About?. Scarcity and Choice. Scarcity. and choice are the two essential ingredients of an economic topic.. Goods are . scarce. because desire for them far outstrips their availability from nature.. Meaning. Scope. Importance. Limitations. Features. Assumptions. Relation between Micro and Macro Economics. Difference between Micro and Macro Economics. Meaning of Macro Economics. The word Macro has origin in Greek word Macros which means large.. Objectives. To understand the concept ceteris paribus. To understand the difference between positive and normative statements. ‘. Free school meals for children at infant school will reduce the cost burden in the future for the NHS’. . Radmilo V. Pešić. University of Belgrade. Serbia. Do we need Economics at all?. To make students` life harder, to make economists more esoteric, to make economic profession more exclusive and better paid, to make politicians more addicted to economists, and to make journalists more ignorant…….???. (. 31505391). By . Hatim. . Jaber. MD MPH JBCM PhD. 29-01-2018. Presentation outline. Time. Introduction to course . 31505391. 08:00. to 08:20. Health as social and economic issue.. 08:20. Theme 2. Economics. Economics: the study of how people . choose. to use resources.. It is the study of choices. .. What are your resources? . Economics is not a science.. It is a set of theories, but none, has scientific validity.. (. 31505391). . The scope of . Economics and Health Economics . By . Hatim. . Jaber. MD MPH JBCM PhD. 12+14 -02- 2018. 1. Course Content. 31505391 . Week . 1. Introduction to Course introduction to Health: health value, health determinants.. a. “Aside from Religion, economics is perhaps the most . pervasive yet least understood force in American life.”. Jon Meacham – Editor, Newsweek Magazine. September 24, 2007. After studying this chapter, you will be able to:. Introduction to Managerial Economics . Session . 01. Dr. . Sumudu. . Perera. Nature . and scope of Managerial Economics. Goals . and Constraints of business organizations. The . Theory of the firm. The . Professor Carol Newman. Head of Department of Economics. What prompted the start of this sustained increase in living standards?. Why did it happen in some countries at certain times and not at all in others?.