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WEEK 2

Quiz 1 5Es - DUE TODAY

QUESTIONS ???

WEEKLY ASSIGNMENTS

• Survey-Free trade: Yes 90%; No 10% (Fall 2008)
• Required Activity Results

REVIEW

What is the goal of economics? goal.htm

What is the Goal of SAPs? 5es.gif

Problems of SAPs (pages 23W-8 to 23W-9 and 23W-12 to 23W-13)

• Inflation
• Initially falling output and living standards
• Inequality and social costs - equity is not necessarily achieved in a market economy

 

Poland Video

The success of Poland’s “shock therapy.” Click on: http://www.learner.org/resources/series86.html Scroll down to: "11. Economies in Transition - Transforming former Communist countries into market economies. Case studies: state industries vs. private entrepreneurs in Russia; the success of Poland’s “shock therapy.”" Click on (A free registration is required for first time users) Then slide the timer to minute 27:25 for the eight minute Poland's Shock Therapy case study

Review Quizzes:

• Week 1
  • Introduction
  • Production Posibilities
• Week 2
  • Capitalism
  • Command Economies

PREVIEW OF WEEK 3 - Supply and Demand

• If the price of pizza increase, what happens to the demand for pizza?
• If the price of plywood increases what happens to the supply of plywood?
• Lecture

Week 2 Lecture Outline