How you feel Thinking Like an Economist is most interesting to learn about?

Much of modern economic thought believes people to be, generally speaking, rational and self-interested. What do these two concepts mean and why are they core to our modern understandings? Please write a paragraph and answer about it.

Write a summary of the fundamental concepts of economics.

Open ECON EVERYDAY and then choose one article. Summarize, relate, and react to what you have read. Your response would be at least 300 words long. Make sure to include the title of the article, the source, and the date of publication. Focus on the main idea and explain how the article is related to the course material. Explain your reaction to the news. Include the original copy of the article or video.

What is economics? A social science that teaches one how to cope with scarcity. A discipline that quantifies the values of assets. A quantitative science to analyze business cycles. A science that teaches firms and individuals how to maximize profits.

How has your study of Economics so far provided insight to the business world around you?

Economics affects nearly everything we do in some way. Someone else has produced most items we consume, or use, in our daily lives, from food to clothes to music to gas for our cars. Chances are, when we purchase these daily items, we don't question the price with the producer. But in the United States, the interactions between the consumers and producers determine quite a lot in terms of business and economics. Think about the items and services that you and your family buy or consume. What causes you to pay the prices that you do for these goods and services? What determines the price that's on the price tag? What goes into determining, or setting, that price? Consider all the possible elements that could influence the prices you pay.

Write a positive statement and a normative statement about your favorite hobby.