Unit 1: Introduction to Economics
1.1 What is economics?
1.2 How do economists approach the world?
"The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation." Adam Smith
Ch. 1: What is Economics
Primary Reading for this introductory Unit.
What is Economics?
We are all Social Scientists
Here you can access a Google Slideshow that we used in class to explain some of the key concepts introduced in the Intro Unit.
Here you can access a Google Doc that once completed will make for a good review document when preparing for assessments.
Here you can access a Google Quiz on key concepts from the introductory unit . Part One
Here you can access a Google Quiz on key concepts from the first introductory unit. Part Two.
Two Videos explaining concepts related to the PPF (from Tutor2u)
Production Possibilities Frontier Worksheet 1 (borrowed from APIP)
Sorry about the quality of the scan.
Key
Production Possibilities Frontier Worksheet 2
Students will need to download and print in order to plot the diagram
Video explaining concepts related to the circular flow model (from Tutor2u)
"A Stone is a Stone."
"We Study the Climate; not the Weather." bc
"The Map is not the Territory."
Ch. 2: Economic Thinking
We will discuss this chapter's material near the end of the course. By that time we will be more familiar with most of these economists and their ideas will make more sense to you at that point.