Mankiw’s Ten Principles of Economics. This week, we jump right in and talk about markets. You probably already have a sense of what a market is, but what do you know about economics? Highlight Gregory Mankiw’s 10 principles, considered to be the core of economics.
- Identify two of the economic principle(s) or topic(s) that you want to learn more about … and why.
- Discuss a recent price increase of a product (or service) you were in the market to buy. Did you buy the product at the higher price? Why or why not? Was the price increase you observed caused by an increase in demand or a decrease in supply? Explain?
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