1-8. The Methodology of economics:
Because economic phenomena are complex, economics has found it useful to model economic behavior. In constructing a model, economists make assumption which cut away unnecessary detail and reduce the complexity of economic behavior. Once modeled, economic behavior may be presented as a relationship between a dependent variable and few independent variables . The behavior being explained is the dependent variable, normally, the dependent variable is presented as depending upon one independent variable, with the effect of the other independent variable held constant. Thus, y depends upon x.
1-9. The use of tables and graphs: A table contains data about two or more variables, one of them is independent and other are dependent. graph is a visual presentation of the behavior of a variable over time (a time series graph) or of the relationship between two variables.
As example the table below present the relationship of a single variable has been presented at various time.
Table 1-1
Interest rate(2001-2007)
year Interest rate
2001 12%
2002 8%
2003 9%
2004 6%
2005 4%
2006 5%
2007 3%
Questions:
1. Give the definition of economics?
2. List the main branches of economics?
3. Defined Microeconomics?
4. Defined Macroeconomics?
5. Give assumption table contains two variables and draw graph that explain the behavior of this variables?
6. Translate the fallowing paragraph:-
economic analysis
A key assumption for economic analysis is that individuals, could be a person, a family or a firm, tend to make choices and select alternatives rationally, that they believe in their best interest. By rational, economists mean simply that people try to make the best choice they can, given the available information and resource.
Uncertainty people do not know what will turn out to be the most self-benefiting, so they simply select the alternatives that they expect to yield them the most satisfaction and happiness or the ones with the highest possibility to achieve it. In general, rational self-interest means that given a certain condition, individuals try to minimize the expected cost for a benefit or maximize the expected benefit with a cost.
المادة المعروضة اعلاه هي مدخل الى المحاضرة المرفوعة بواسطة استاذ(ة) المادة . وقد تبدو لك غير متكاملة . حيث يضع استاذ المادة في بعض الاحيان فقط الجزء الاول من المحاضرة من اجل الاطلاع على ما ستقوم بتحميله لاحقا . في نظام التعليم الالكتروني نوفر هذه الخدمة لكي نبقيك على اطلاع حول محتوى الملف الذي ستقوم بتحميله .
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