Economic concepts for Master program

AGENDA- BINDER

ECNM 592 (Economic Concepts) SESSION #1

Read these chapter sections BEFORE CLASS (pages based on version 8e) Chapter 1 (pp. 1-17)

Chapter 2 (pp. 27-35, 47-50)

Chapter 11 (pp. 358-366)

Review these problems/chapter examples/check stations:

Multinational production and pricing (p. 2)

Research and Development (p.4)

Kindle/Amazon Check Station (p. 39-40) (SOLUTION P. 46)

Chapter 2 problem #4 (p. 42)

CLASS SESSION

Course Overview

Ten Reasons to Study Economics - Handout and Exercise

Review Syllabus

Walk through using Sakai

Problem Solving and Decision Making

To use economics you need to have a knowledge of:

Economic concepts and terminology

Data analysis and calculations

Graphs – reading and using (presenting information visually)

Calculus (solving problems) – using mathematics

The Six Steps to Decision Making

Class content and discussion (Slide Pack #1)

Multination production and pricing

Research and Development

The Benefit/Cost Analysis of a Bridge

KINDLE AMAZON PROBLEM and SOLUTION

Working Topic and Discussion 3 – California Bullet Train

Assignment: Explore the CHSR Project from an economic viewpoint.

In –class exercise:

Form small groups (teams) – create a team – share your insights

Go to your Sakai Resources and download the pdf on the CHSR. Use the page to view in Adobe to review:

Chapter 3 – page 2 (p. 82)

Chapter 3 – page 8 (p. 88)

Chapter 5 – page 19 (p.127)

Chapter 7 – pp. 7-11 (p. 153)

Apply The Six Steps to Decision Making Process to the CHSR Project.

Document your work and one team member attach it in the Shared Work

folder before the end of class today!

A short class discussion will be held (time permitting).

Next Session: Knowledge Assessment 1

Read assigned chapter reading (will find in next week’s agenda)

Problem Solving (Discussion Leaders)

Continue discussion of CHSR project – keep talking and thinking like economists.