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Economics 214

This class was created by Brainscape user Michael Mariano. Visit their profile to learn more about the creator.

By: Michael Mariano
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Decks in this class (15)

Thinking like an economist
Reservation price of activity x,
Sunk cost,
Marginal cost
12  cards
Supply and Demand
Market,
Law of demand,
Law of supply
23  cards
Rational consumer choice
Preference ordering,
Properties of preference orderings,
Completeness
23  cards
Individual and market demand
Price consumption curve pcc,
Moving from the pcc to the indivi...,
Income consumption curve icc
42  cards
Production
Production,
Production function,
Long run
18  cards
Costs
Accounting costs,
Economic costs,
Opportunity costs
14  cards
Perfect Competition
Economic profit,
Total cost,
Accounting profit
18  cards
Monopoly
Monopoly,
Factors that lead to a monopoly s...,
Natural monopolies
27  cards
Imperfect competition
Cournot model,
Duopoly,
Reaction function
17  cards
Introduction
Macroeconomics,
Models,
Long run growth
19  cards
Measurement
When and where is gdp published,
Approaches to measure gdp,
Product approach
32  cards
Business cycle measurement
Regularities in gdp fluctuations,
Deviations from trend in real gdp...,
Comovement
17  cards
Consumer and Firm Behavior
Dynamic vs static decisions,
The representative consumer,
The representative consumer s ind...
19  cards
Closed-Economy One-Period Model
Closed economy,
Closed economy one period macro m...,
Government
34  cards
A Two Period Model: The Consumption-Savings Decision and Credit Markets
Intertemporal decisions,
Consumption saving decision,
The governments financing decision
40  cards

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Economics 214

  • Class purpose General learning

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