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Welcome to Principles of Microeconomics Spring 2014

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.

rachana-harjit
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Welcome to Principles of Microeconomics Spring 2014

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  1. Welcome to Principles of MicroeconomicsSpring 2014

  2. Name that Economist

  3. This guy is formerly very important.

  4. Now she’s very important.... 4

  5. We’ll talk about this guy…

  6. and this guy...

  7. And a little about this guy.

  8. 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

  9. My girls.

  10. Why should you finish your degree?

  11. 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/

  12. 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.”

  13. What about YSU? • (http://www.businessweek.com/interactive_reports/bs_collegeROI_0621.html -15) • What about starting salary? • http://collegerealitycheck.com/colleges/206695/

  14. 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

  15. Scarlett Marie Wants You… • …to do well in this class!

  16. Attendance is not required?Attendance and Grade Distribution

  17. Your First (of many) Graphs

  18. The key to Success in this class: • Practice

  19. Another interesting graph

  20. The more you go to SI....

  21. Read – and use - the book More of this Less of this

  22. - 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.

  23. Microeconomics 23

  24. Macroeconomics 24

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