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The Basic Economics for Project Management — Fundamentals for Leadership

The Basic Economics for Project Management — Fundamentals for Leadership. UNEP Leadership Program Tong Ji University, Shanghai China September, 2005. The Basic Economics for Project Management. Prof. PENG, Yun E Professor of Economics, School of Economics and Management,

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The Basic Economics for Project Management — Fundamentals for Leadership

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  1. The Basic Economics for Project Management—Fundamentals for Leadership UNEP Leadership Program Tong Ji University, Shanghai China September, 2005

  2. The Basic Economics for Project Management • Prof. PENG, Yun E • Professor of Economics, • School of Economics and Management, • Director, The World Bank Studies Center, • Director, US-China Business Development Center, Tong Ji University

  3. The Basic Economics for Project Management • What is Economics? Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

  4. Basic Economics for Project Management • Further definitions of Economics What exactly is the subject that the economists from Smith to Marx to the present generations have analyzed? The following are a few definitions of Economics:

  5. Basic Economics for Project Management • Economics asks what goods are produced, how these goods are produced, and for whom they are produced. • Economics analyzes movements in the overall economy-trends in prices, output, unemployment, and foreign trade. Once such trends are understood, economics helps develop the policies by which governments can improve the performance of the economy.

  6. Basic Economics for Project Management • Economics is the study of commerce among nations. It helps explain why nations export some goods and import others, and analyzed the effects of putting economic barriers at national frontiers. • Economics is the science of choice. It studies how people choose to use scarce or limited productive resources (labor, equipment, technical knowledge), to produce various commodities (such as wheat, overcoats, concerts, and missiles), and to distribute these goods for consumption. • Economics is the study of money, banking, capital and wealth.

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