1. 01 ECONOMICS A 3-1 SUBJECT? project date 20/09/2007

2. 01 I want a full stomach! I want a fur coat! Let’s compromise… The bear ate the man…they both got what they wanted. What could possibly happen?

3. Don't ever start your day in neutral! Take the initiative Fight the issue not the person Take control of your day and life Be decisive BE STRONG & COURAGEOUS... Joshua 1:6-7,9 Source: JL Mason

5. ECONOMICS is like… Cork-can-bottle opener Nescafe 3-1 coffee 3-in-1 printer, fax and photocopying machine SCIENCE SOCIAL SCIENCE ARTS

9. ARTS

10. ART is the... ability process product

13. SOCIAL SCIENCE

15. MIC - MAC MICROECONOMICS VS. MACROECONOMICS

16. MIcroeconomics MAcroeconomics Microscope Telescope

17. WHAT’S THE DIFFERENCE? MICROECONOMICS MACROECONOMICS I A

18. MAcroeconomics MIcroeconomics whole parts

22. Categorize whether the statement is under microeconomics (A) or macroeconomics (B)

24. RED APPLE OR GREEN APPLE POSITIVE ANALYSIS NORMATIVE ANALYSIS

25. POSITIVE ANALYSIS NORMATIVE ANALYSIS SCIENTIST POLITICIAN

29. POSITIVE vs. NORMATIVE Statement of facts Statement of values You are entitled to your own opinion but you are not entitled to your own facts!

32. Categorize whether the statement is a positive statement (A) or a normative statement (B)

33. MICRO ECONOMICS MACRO ECONOMICS 2 Branches/ Fields 2 Types of Analyses Positive “What is, was, will be” Normative “What ought to be?” SCIENCE SOCIAL SCIENCE ART “ Applied Economics” 3-1 Discipline Taxonomy of Economics

34. 1-2-3 HYPOTHESIS THEORY LAWS OR PRINCIPLES Statement that needs to be tested/proven As hypothesis is proven true, it evolves into a theory A well tested and accepted theory becomes a law or principle

42. Group exercise 3 ounce 5 ounce 8 ounce The largest glass is full. What can you do to get 4 ounces of liquid into each of the larger two glasses?

43. LET US APPLY WHAT WE HAVE LEARNED!

44. CHART OBJECT 02 project date 20/09/2007