What is economics? Normative Definition Economics is the science that studies how to efficiently allocate economic resources Positive definition economics is the science that studies how an economy operates or how economic variables are
7.1 Fiscal policies and effects 7.2 Monetary policies and effects 7.3 Policy mix 7.4 Economic fluctuation and eliminating the fluctuations with economic policies 7.5 Macroeconomic policy practice
Topics to be Discussed Basic principles of building macroeconomic model Micro basis of macroeconomics &Choices of households Choices of firms Introduction to labor market