Unit+1+-+Microeconomics

Unit 1 - Microeconomics! __Overview:__ // Microeconomics studies individual markets. So, we are studying the behavior of people producing and exchanging to get the stuff they want in a particular case. This might be a market for a specific product, like Coca-Cola, or an entire (but specific) industry, like soda or beverages. There concepts in this unit are largely intuitive – you live with markets every day and you instinctively know how much of this works. The hard part is going to be applying the formal terms and models. Plus, most of the theory in this section is very well proven and not especially controversial. //

// However, ultimately understanding the basic concepts is really just getting us ready for a much bigger and much more complicated question – when and to what extent should the government intervene in a market. Should we provide more schools if the market doesn’t provide as many as we might want? Should we ban or limit access to cigarettes, alcohol, or narcotics? Should we limit how much soda people are allowed to buy, lead paint in toys, or the price of apartments? Every time we intervene in a market, no matter how noble or necessary the action, we create consequences such as decreased efficiency. So, we have to figure out and decide where to make the balance between interference and an efficient market // // . // __Resources for this Unit:__
 * Unit 1 Guide || [[file:Unit 1 STUDY GUIDE.doc]] ||
 * New Ideas from Dead Economists -- Reading Assignment #1 || [[file:New Ideas from Dead Economists Reading #1.doc]] ||
 * Link for Volatile Farm Prices Drop box!!! || [] ||
 * Micro Remediation Set #1 || [[file:Unit 2 Remediation Set #1.doc]] ||
 * Micro Remediation Set #2 || [[file:Unit 2 Remediation Set #2.doc]] ||
 * Micro Remediation Set #3 || [[file:Unit 2 Remediation Set #3.doc]] ||
 * Micro Remediation Set #4 || [[file:Unit 2 Remediation Set #4.doc]] ||
 * Practice Paper 1 Questions || [[file:Unit 2 Test essays.doc]] ||
 * Micro Remediation Set #4 || [[file:Unit 2 Remediation Set #4.doc]] ||
 * Practice Paper 1 Questions || [[file:Unit 2 Test essays.doc]] ||