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21/02/2011 The Unit Structure Week 1: core ideas, intuition: backbone document. BEA683 Week 2-6: fleshing out of core ideas into standard terminology. Economics for Managers ________________________________________________________________________________ Week 7-12: applying the terminology and ideas. Week 1: The Bare Bones of Economics Strategy: immediate depth, followed by repetition and increasing breadth. Thoroughly understanding the core ideas is key to the rest. Goal: the minimum we would like you to understand is the set of core ideas of and the “way of thinking” in economics. KEY Point - Introduction Economics in a Nutshell … What is Economics? The basic economic problem: • Economics is the application of rigorous, often • All decision-makers, i.e. individuals, firms, h