Unit 1: Economics and Globalization

Lesson 1c: Making Choices - The Production Possibilities Curve (PPC) and Benefit-Cost Analysis

Assignments: Readings


Ch 1, pp. 11-20 (19th,10-21), "Society's Economizing Problem", "Production Possibilities Model"

Ch. 1, pp. 6-7 (19th p. 5), "Marginal Analysis: Comparing Benefits and Costs"

Ch. 1, pp. 14-15 (19th,13-14), "Optimal Allocation" (especially Fig 1.3),

Drivers with airbags may take more risks

Ch 1, p. 15 (19th, 14), "Consider This . . . The Economics of War"

Lecture Outline



Lesson 1c