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Introduction to Economics 103: Understanding the Economic Mindset

Welcome to Economics 103 with Professor Eric M. Jamelske! In this course, we will explore the fundamental principles of economics beyond just money. You'll learn essential concepts such as voluntary transactions, the role of money in the economy, and how economics impacts various critical issues like health care, environmental concerns, and local economic trends. Be prepared for experiential activities, teamwork, and engaging discussions that challenge your thinking. Let's work together to understand the economic forces shaping our world!

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Introduction to Economics 103: Understanding the Economic Mindset

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  1. WELCOME to Economics 103Spring 2013 Professor Eric M. Jamelske (Dr. J.) 471 Schneider HallTuesday/Thursday: 9:00 – 11:00am & Friday 11:00 - 11:45am and by appointment 715-836-3254 jamelsem@uwec.edu 2135.econ.103.002

  2. Index Card • Front • Name, first and last • Major, minor • Year in college • Economics experience (do you have any?) • Back • What do you hope to learn in this class? • One or two things of interest to you (issues you care about)

  3. The String Activity Let’s PLAY!

  4. The String Activity What was the point?

  5. Friendship Bracelets What’s the point?

  6. Friendship Bracelets We are all FRIENDS!

  7. Call me Dr. J

  8. Economics 103 Introduction to the Economic Way of Thinking Speak a NEW language!Be Prepared…. Work Together…. Do a little ECON every day! The course syllabus is aCONTRACT!

  9. The course syllabus is aCONTRACT! I hear, I forget I see, I remember I do, I understand Confucius We must all be prepared each day and work together toward reaching our goal… BECAUSE YOU CARE Do a little ECON every day!

  10. Meet the Tutors

  11. What Economists Do….. • Teach • Microeconomics, Health Economics, Environmental Economics • Research • Childhood obesity, school nutrition, fruits & vegetables • Health care issues, health care policy • Global warming issues, global warming policy • The first-year college experience • Local economic trendsHobbies • Basketball, Music, Outdoors

  12. What is Economics?

  13. What is Economics? • Contrary to what you might believe….. • Economics IS NOT first and foremost about MONEY!

  14. Voluntary Transactions Increase Well-being • Money…is not economics • is a unit of account ($1, $2, $3…) • is a store of value (I can use it later) • is widely accepted for purchases • is a medium of exchange • is a common language • lowers transaction costs • increases the # of transactions • money has value because of what we can get with it.

  15. No double coincidence of wants and desires Does anybody want some bread, or some soap or clothing, or an education…. how about some ECON?

  16. What can Beevis & Butthead teach us about money

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