G11 - Week 1 - Day 3

In-class work

1. Distribute textbooks
2. Introduction to your textbook and resources
3. Read p. 1-8
4. Economic Systems - Market, Command and Mixed Economies
5. Positive vs Normative
6. Scarcity, Opportunity Cost and the PPC
7. The Law of Increasing Opportunity Cost and the PPC Model

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From the blogosphere

1. Economic Near-miracles Are Still Possible
2. The Meaning of Trust in the Age of AirBnB
3. Aetna Shows Why We Need a Single Payer

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Currently Reading

Why Nations Fail: The Origins of Power, Prosperity, and Poverty

"The central thesis of this book is that economic growth and prosperity are associated with inclusive economic and political institutions, while extractive institutions typically lead to stagnation and poverty" (p. 85).