Econ

• The Basic Economic Problem

  The basic economic problem arising out of the fundamental existence of scarcity
• The basic questions of "What", "How" and "For Whom" to solve the basic economic problem

  How they are interrelated
• The basic economic problem

  Key concepts of choice and opportunity cost
• The different forms of economic system


  • How they attempt to "solve" the economic problem
• Microeconomics

  Difference from macroeconomics
• Normative statements


  Difference from positive statements in economics