Microeconomics

NAUXChange 01-3

 What principles do economists use to solve everydayproblems, like dating?

Discussion 01.1:Economical Introduction

Discuss and share with your classmates the opportunity costsand benefits because of your enrollment in college. Also share how youreplanning to maximize your net benefit after receiving your college degree.

Discussion 01.2:The U.S. and Global Economies in Your Life

Participate in a discussion regarding the U.S. and globaleconomies as shown in Section 2.2 in the textbook. Now that we have learnedabout the facts and trends regarding advanced, emerging markets and developingeconomies, discuss and share with your classmates your thoughts regarding:

 

        your choice of career

        your stance on the politics of protecting U.S.jobs.

 

NAUXChange 02-6

 Briefly describe supply and demand to your classmates.

Discussion 02.1:Your Production Possibilities Frontier

Participate in a discussion regarding the productionpossibilities frontier, which is a model of scarcity, choice, and opportunitycost, as shown in Section 3.1 in the textbook. Apply this model to your life by describing your forgone leisure orforgone income as your tradeoff for a higher GPA score. A lower grade is theopportunity cost of increased leisure or increased income. Also identify yourposition point on the PPF and indicate how many study hours you’re planning toset aside to complete your coursework in this class.

Discussion 02.2:Understanding and Using Demand and Supply

Participate in a discussion with your classmates bydescribing the effects the demand and supply model has on your life, as shownin Section 4.2 in the textbook.  You willuse this model again and again during our course, so having a clearunderstanding of it will bring you an immediate payoff! More importantly, byunderstanding and using the demand and supply model, you’ll have a much betterappreciation of how our economic world works. Therefore, share with yourclassmates how demand and supply influence the prices of your favoriteclothing, music, and food items. Give specific examples.