Find
Search for over 200,000 study notes and past assignments!
Swap
Download study resources by swapping your own or buying Exchange Credits.
Study
Study from your library anywhere, anytime.
48 Pages • Complete Study Notes • Year: Pre-2021
LECTURE 1 Introduction to Economics What is economics? • Economics is the science of how people respond to incentives and make decisions about allocating scarce resources. Microeconomics • studies decision-making by individual economic agents: – When does it make sense for one firm to merge with or take-over another? – How does a firm decide whether or not to enter a new market? – Should Australia join free trade agreements? – What is the likely impact of high petrol prices on an individual’s car usage? Macroeconomics • studies the aggregate impact of individual decisions (objectively): – What determines interest rates and exchange rates? How are they linked? – What determines a country’s rate of economic growth and aggregate unemployment rate? – How will global warming (and government policy responses to this issue) impact on the Australian economy • Microeconomics provides a foundation for macroeconomics
This document is 25 Exchange Credits
More about this document:
|
This document has been hand checkedEvery document on Thinkswap has been carefully hand checked to make sure it's correctly described and categorised. No more browsing through piles of irrelevant study resources. |
|
This is a Complete Set of Study NotesComplete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics. |
|
What are Exchange Credits?Exchange Credits represent the worth of each document on Thinkswap. In exchange for uploading documents you will receive Exchange Credits. These credits can then be used to download other documents for free. |
|
Satisfaction GuaranteeWe want you to be satisfied with your learning, that’s why all documents on Thinkswap are covered by our Satisfaction Guarantee. If a document is not of an acceptable quality or the document was incorrectly described or categorised, we will provide a full refund of Exchange Credits so that you can get another document. For more information please read Thinkswap's Satisfaction Guarantee. |
Studying with Academic Integrity
Studying from past student work is an amazing way to learn and research, however you must always act with academic integrity.
This document is the prior work of another student. Thinkswap has partnered with Turnitin to ensure students cannot copy directly from our resources. Understand how to responsibly use this work by visiting ‘Using Thinkswap resources correctly’.