Welcome to principles of microeconomics spring 2014
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Welcome to Principles of Microeconomics Spring 2014. Name that Economist. This guy is formerly very important. Now she’s very important. 4. We’ll talk about this guy…. and this guy. And a little about this guy. Economics Gets People to Places – Some Past Economics Majors.

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Welcome to Principles of Microeconomics Spring 2014

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Welcome to principles of microeconomics spring 2014

Welcome to Principles of MicroeconomicsSpring 2014


Name that economist

Name that Economist


This guy is formerly very important

This guy is formerly very important.


Now she s very important

Now she’s very important....

4


We ll talk about this guy

We’ll talk about this guy…


And this guy

and this guy...


And a little about this guy

And a little about this guy.


Welcome to principles of microeconomics spring 2014

Economics Gets People to Places – Some Past Economics Majors

Business leaders:

Warren Buffett - CEO, Berkshire Hathaway

Donald Trump – Real estate/TV mogul

Sam Walton – Founder, Wal-Mart

Meg Whitman – CEO, Ebay

Steve Ballmer – CEO, Microsoft

Heads of state:

George H. W. Bush – US president

Gerald Ford – US president

Ronald Reagan – US president

Stephen Harper – Prime minister, Canada

Manmohan Singh – Prime minister, India

Public officials:

Sandra Day O’Connor – Supreme Court justice

Arnold Schwarzenegger – Governor/Philanderer

Barbara Boxer – US Senator

Ben Bernanke – Chairman, the US Federal Reserve

Kofi Annan – UN secretary General

Entertainers, athletes, and others:

Cate Blanchett – Actress

Mick Jagger – Singer

Young MC – Singer

Lionel Richie - Singer

Bernie Kosar – NFL quarterback

Tiger Woods – Golfer/Philanderer

Muhammad Yunus – Nobel Peace Prize winner


My girls

My girls.


Why should you finish your degree

Why should you finish your degree?


Your major also matters

Your major also matters.

  • If you want a really high paying job you should major in….

  • …engineering.

  • If you want a high paying job in business or social sciences you should major in…

  • If you want a really high paying job you should major in….

  • …engineering.

  • If you want a high paying job in business or social sciences you should major in….

  • If you want a really high paying job you should major in….

  • …engineering.

  • If you want a high paying job in business or social sciences you should major in….

  • http://chronicle.com/article/Median-Earnings-by-Major-and/127604/


Put another way roi

Put another way - ROI?

  • Study by Barrow and Rouse:

  • “Lifetime incomes of college grads in today's dollars average nearly $300,000 more than high school graduates over a 40-year career. And that's the net benefit, after deducting an average cost of more than $100,000 in tuition, room and board and potential income lost while attending college.”


What about ysu

What about YSU?

  • (http://www.businessweek.com/interactive_reports/bs_collegeROI_0621.html -15)

  • What about starting salary?

  • http://collegerealitycheck.com/colleges/206695/


Why you should come to class economically speaking

Why you should come to class, economically speaking.

For an in-state student taking 5 classes this semester class costs $812.50 (including fees).

There are 28 scheduled classes, so each class session costs $29.00 on average.

For a YSU graduate, the estimated gross returns are between $4.00 - $5.60 for every $1.00 spent on education!

Using this measure, on average, each class is worth between $116.07 - $162.40 in additional gross lifetime income ($87.07 – $133.40 net)!

14


Scarlett marie wants you

Scarlett Marie Wants You…

  • …to do well in this class!


Attendance is not required attendance and grade distribution

Attendance is not required?Attendance and Grade Distribution


Welcome to principles of microeconomics spring 2014

Your First (of many) Graphs


The key to success in this class

The key to Success in this class:

  • Practice


Another interesting graph

Another interesting graph


The more you go to si

The more you go to SI....


Read and use the book

Read – and use - the book

More of this

Less of this


Welcome to principles of microeconomics spring 2014

-Review the material outside of class.

- Put effort into assignments and prepare for quizzes.

-Do the study guide practice problems that are posted on the class website.

-Come see me in my office, even if it’s not my office hours.

-See Josephine Adofo, your Graduate student tutor.


Welcome to principles of microeconomics spring 2014

Microeconomics

23


Welcome to principles of microeconomics spring 2014

Macroeconomics

24


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