Chapter 21: The Theory of Consumer Choice Principles of Economics, 6th Edition N. Gregory Mankiw Page 1 1. Introduction a. This is an important chapter as it explains how we make decisions by comparing the psychological benefits of alternatives to their costs choosing those that increase our welfare. b. Regrettably, we will not have the time to cover it in class. c. This method is important for all decisions not only those affecting consumers. i. Have you ever turned down a higher paying job because of the nature or location of the job? d. This illustrates one of the central ...
Identification Subject ECON 201 Principles of Microeconomics – 6 ECTS credits Program Undergraduate Department Economics and Management Term Fall 2019 Instructor Jeyhun Mammadov E-mail jmammadov@khazar.org Classroom/hours Room # 305 N, Tuesday 08:30-11:40 Prerequisites ECON 100 Introduction to Economy Language English Compulsory/Electi Compulsory ve Text books and N. Gregory Mankiw: Principles of Economics, 6th edition, Thompson Publishers, 2012 course materials Teaching methods Case analysis Group discussion x Lab Lecture x Recitation Problem solving x Others Evaluation Criteria Methods Date/deadlines Percentage (%) Midterm exam 05.11.2019 30 Class attendance 5 Class activity 5 4 quizzes (5% each) 08.10.2019 ...
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