Category: Micro Economics

Introduction Economics is a social science that studies people making decisions during times of scarcity. Economics affects every person’s life and every society. People make decisions to be effective and efficient when they have restricted resources. Economics can be divided into two areas which are microeconomics and macroeconomics. Microeconomics looks at economics on a smaller… Continue reading Introduction
Economics is a social science that studies people making decisions

INTRODUCTION Economics is a social science that studies people making decisions during times of scarcity. Economics affects every person’s life and every society. People make decisions to be effective and efficient when they have restricted resources. Economics can be divided into two areas which are microeconomics and macroeconomics. Microeconomics looks at economics on a smaller… Continue reading INTRODUCTION
Economics is a social science that studies people making decisions

Select an article from the Saudi Digital Library related to the course content You can refer to the course syllabus for help. Read the article and understand the key points Write a summary of the article (250-300 words) Use your own words. Do not copy and paste from the article. Your summary must be a… Continue reading Select an article from the Saudi Digital Library related to the course content

Week 3: Interactive activity 3.1 Learning Outcomes: Upon successful completion of this module, the student will be able to: Identify Principle of Opportunity Cost Discuss Marginal Principle Understand Principle of Diminishing Returns Differentiate Real and Nominal Principle 3.2 Action Required: Read the following to prepare for this week: Chapter 2: The Key Principles of Economics… Continue reading Week 3: Interactive activity
3.1 Learning Outcomes:
Upon successful completion o

Week 3: Interactive activity 3.1 Learning Outcomes: Upon successful completion of this module, the student will be able to: Identify Principle of Opportunity Cost Discuss Marginal Principle Understand Principle of Diminishing Returns Differentiate Real and Nominal Principle 3.2 Action Required: Read the following to prepare for this week: Chapter 2: The Key Principles of Economics… Continue reading Week 3: Interactive activity
3.1 Learning Outcomes:
Upon successful completion o

Please read CHAPTER IX ‐ Keynes: Bon Vivant as Savior and answer the following questions: One Page: What were the big themes in this week’s reading? What was the most interesting idea covered? One Page: 1. Explain Keynes’ idea of how a recession might occur due to excess supply. 2. Say’s Law is commonly stated… Continue reading Please read CHAPTER IX ‐ Keynes: Bon Vivant as Savior and answer the following q

Please read CHAPTER IX ‐ Keynes: Bon Vivant as Savior and answer the following questions: One Page: What were the big themes in this week’s reading? What was the most interesting idea covered? One Page: 1. Explain Keynes’ idea of how a recession might occur due to excess supply. 2. Say’s Law is commonly stated… Continue reading Please read CHAPTER IX ‐ Keynes: Bon Vivant as Savior and answer the following q

Pratice Q–u-i-z Time: 29/03/2023 09:00 – 18/04/2023 16:00 2nd attempt: 19/04/2023 09:00 – 21/04/2023 16:00 (Brisbane Time) Duration : Question structure: A set of questions on Topics 3 and 4 (Lectures 5 and 6). The examination will consist of short answer conceptual questions and practical exercises/problem questions. The questions will be comparable to those covered… Continue reading Pratice Q–u-i-z Time: 29/03/2023 09:00 – 18/04/2023 16:00 2nd attempt: 19/04/20

Recall the ferry scene from Christopher Nolan’s The Dark Knight. (The movie is on Netflix. A clip can be found on Youtube here.) In this scene, the Joker constructs a “social experiment” between two groups of people which we can model using game theory.1. Who are the players of the “ferry” game? 2. What are… Continue reading Recall the ferry scene from Christopher Nolan’s The Dark Knight. (The movie is o

Questions discussion PART I In one doc (max 20lines if possible) 1. Explain how buyers’ willingness to pay, consumer surplus, and the demand curve are related. Explain how sellers’ costs, producer surplus, and the supply curve are related. Name two types of market failure. Explain why each may cause market outcomes to be inefficient. Explain… Continue reading Questions discussion PART I In one doc (max 20lines if possible)
1. Explain how