Professor Eric M. Jamelske (Dr. J.) 471 Schneider Hall Office Hours TBA and by appointment econ econ WELCOME to Economics 103 Fall 2014

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!

The String Activity Let’s PLAY!

The String Activity What’s the point?

The String Activity Teamwork and Problem Solving… It’s a metaphor!

Friendship Bracelets What’s the point?

Friendship Bracelets We are all FRIENDS… Let’s work together!

Call me Dr. J

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 a CONTRACT!

The course syllabus is a CONTRACT! 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!

Meet the Tutors Jacob Raleigh Mitchell Fischer

What Economists Do….. Teach Microeconomics, Health Economics, Environmental Economics Research Child/school nutrition, fruits & vegetables Health care issues, health care policy Climate change public opinion, climate change policy The first-year college experience Local economic trends Hobbies Basketball, Music, Outdoors

What is Economics?

Contrary to what you might believe….. Economics IS NOT first and foremost about MONEY!

Voluntary Transactions Increase Well-being 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. Money…is not economics

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