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

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