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Microeconomics Study Notes: Chapter 1 – The Nature of Economics

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Introduction to Economics

  • Guided course
    Hello!
    00:16

Microeconomics vs. Macroeconomics

  • Guided course
    Definition of Economics:Micro vs. Macro
    02:16

Scarcity and Choice

  • Guided course
    Defining Economic Terms:Scarcity, Trade-offs, and Opportunity Costs
    02:39

People Are Rational

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    People Are Rational
    01:32

Positive and Normative Analysis

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    Identifying Statements
    02:48
  • Guided course
    Positive Statements vs. Normative Statements
    04:35

Interpreting Graphs, Correlation, Causation, and Omitted Variables

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    Interpreting Graphs (Part One)
    03:27
  • Guided course
    Interpreting Graphs (Part Two)
    03:02