Class Notes For Modern Principles: Microeconomics, 4th Edition

With Class Notes For Modern Principles: Microeconomics, 4th Edition, you get expertly crafted notes covering critical concepts, theories, and real-world applications.

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1TheBigIdeasLearningObjectivesAfter completing this chapter students should:>knowthe TenBig Ideas ineconomics.>appreciatethat economics is not just about business and stock markets,but it canhelpthem understand many things they encounter in their everyday lives.>seethateconomicscan be fun!Chapter OutlineThe chapter is organized around 10“BigIdeas”:Big Idea One:IncentivesMatterBig Idea Two:GoodInstitutionsAlign Self-Interest with the Social InterestBig Idea Three:Trade-offs Are EverywhereOpportunity CostBig Idea Four:Thinking on the MarginBig Idea Five:The Power of TradeBig Idea Six:The Importance of Wealth and Economic GrowthBig Idea Seven:Institutions MatterBig Idea Eight:Economic Booms and Busts Cannot Be Avoided but Can BeModeratedBig Idea Nine:InflationIs Caused by Increases in the Supply of MoneyBig Idea Ten:Central Banking Is a Hard Job

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Economics

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Modern Principles: Microeconomics b...

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