economic

Week 1 Key Topics Covered

• How do markets work?

• How does the economics environment affect personal and business decisions?

• Marginal utility and law of demand

• Market equilibrium

• Market changes

• Price ceilings, price floors and their effects

Week 1 Tutorial and practice self-directed case study are based on Topic 1.

Required readings: Sloman et al, 8th edition (2019)

— Read Chapters 1, 2 (including the Appendix); and — Read Chapter 4 (including Boxes 4.1, 4.2, and 4.3)