1. I want to talk to you about a four-letter word:
NEED
I want to talk to you about a four-letter word—is the first sentence that pops up on this slide. The students, of course, are thinking swear words. You pause for a few seconds, then click so the word “NEED” shows on the slide. Ask the students how often they hear this word—NEED. Wait for a response. If no response, wait some more. Students new to a class many times do not want to respond. Part of our job as economics instructors is to get our students used to speaking in public.

2. Intro To Economics Your list of Needs
Write This Down
Intro To Economics
Needs:
Your list of Needs
In Economics:
Need = there are no other substitutes.
basics for survival
Want = everything else that you desire.
a way of communicating a “need”

3. I want to talk about a four-letter word that begins with the letter
REE
I want to talk about a four-letter word that begins with the letter “F.” Of course, the kids are thinking of a swear word. You then click the REE in FREE.

4. Tell the students there are lots of FREE items in the marketplace
Tell the students there are lots of FREE items in the marketplace. Here are some examples.

6. Look you can get 100 hours FREE with America Online.

7. Or if you wait for the next mailing, you can get 250 HOURS FREE!

8. There’s FREE teaching material.

9. FREE Blimpie 6” sandwich.

10. Buy two get two FREE.

11. FREE, picnic cooler when you turn a friend on
To Hinckley & Schmitt Water.

12. First-time member plays roller hockey for FREE.

13. FREE rolls of film.

14. Free Tell me what is It doesn’t cost anyone, anything!
Notice that there are a lot of FREE things out there. Ask the students what else is FREE. Write the list of answers on the board. The students will say such things as: air, water, education, SEX, (straws, napkins, condiments), buy one get one FREE, friendship, love, etc. Click and give the definition—It doesn’t cost anyone, anything. If it is TRULY FREE, then there is no cost to ANYONE. Go over the list of answers. Is there a costs to an water? Education? Sex? Condiments? Buy one get one FREE? Love? Friendship? Of course, they all cost. If you can’t think of an accounting cost, you always have the cost of TIME. Everyone knows that TIME is MONEY. Friendship takes time, love takes even more time, and what about sex? This is where you bring up the term opportunity cost. There is an opportunity cost to EVERYTHING, so guess what? Nothing is FREE.

15. Intro To Economics Your list of Needs
Write This Down
Intro To Economics
Needs:
Your list of Needs
In Economics:
Need = there are no other substitutes.
basics for survival
Want = everything else that you desire.
a way of communicating a “need”

16. Intro To Economics In Economics:
Write This Down
Intro To Economics
In Economics:
Need = there are no other substitutes.
basics for survival
Want = everything else that you desire.
a way of communicating a “need”
Free = it doesn’t cost anything to anyone
i.e. sunshine

17. $80

18. Intro To Economics In Economics:
Write This Down
Intro To Economics
In Economics:
Need = there are no other substitutes.
basics for survival
Want = everything else that you desire.
a way of communicating a “need”
Free = it doesn’t cost anything to anyone
i.e. sunshine
Gratuitous = when someone decides to give
an item without charging you

19. What is ECONOMICS? Economics is the study of how individuals
and societies, experiencing virtually limitless
wants, choose to allocate their scarce
resources to satisfy their wants.

20. Wants > Economics Scarcity Scarcity means: = Availability of
Unlimited
Limited
Wants
Availability of
Resources
>

21. Who Majored in Economics
Famous Individuals
Who Majored in Economics

25. http://upload. wikimedia. org/wikipedia/en/thumb/5/5c/O'Connor,_Sandra
Sandra Day-O'Connor US Supreme Court Justice (Stanford)

27. Sadie Tanner Mossell Alexander First black woman to be awarded a Ph. D
Sadie Tanner Mossell Alexander First black woman to be awarded a Ph.D. in the United States (economics from the University of Pennsylvania).

28. George Wendt Actor (Rockhurst College)

29. Cate Blanchett Actress (Melbourne University)

30. Danny Glover Actor (University of San Francisco)

31. Paul Newman Actor (Kenyon College)

32. Mick Jagge rRolling Stones (London School of Economics***)

33. President Federal Reserve Bank of San Francisco
Janet L. Yellen
President Federal Reserve Bank of San Francisco
President Federal Reserve Bank of San Francisco

34. Tiger Woods Golfer (Stanford**) didn’t finish

35. James Blake Pro Tennis Player (Harvard**)

36.
John Elway NFL quarterback (Stanford)

37. Ted Turner CNN, Atlanta Braves/Hawks (Brown)

38. Lionel Richie Singer/Songwriter (Tuskegee University)

39. Bill Belichick NFL Head Coach--Patriots (Wesleyan University)

40. Carlos Salinas de Gortari
Former Presidents of Mexico
Carlos Salinas de Gortari Former President of Mexico (Harvard University, Ph.D.)
Carlos Salinas de Gortari
Ernesto Zedillo

41. Scott Adams Cartoonist, creator of Dilbert (Hartwick College)

42. Prime Ministers India South Korea Iceland Russia Canada Turkey
Former
Canada
Turkey
Netherlands
Ukraine
Former

43. Economists
Run
The World

45.
Top jobs for 2016

46. Full List - The 10 College Majors With The Highest Starting Salaries
1. Computer Science
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5. Industrial Engineering
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Popular Entry-Level Jobs: Industrial Engineer, Quality Engineer, Production Planner

47. 6. Information Technology
Median Base Salary: $64,008
Popular Entry-Level Jobs: Programmer Analyst, Technical Support, Systems Engineer
7. Civil Engineering
Median Base Salary: $61,500
Popular Entry-Level Jobs: Civil Engineer, Structural Engineer, Field Engineer
8. Statistics
Median Base Salary: $60,000
Popular Entry-Level Jobs: Data Analyst, Statistician, Data Scientist
9. Nursing
Median Base Salary: $58,928
Popular Entry-Level Jobs: Registered Nurse, Licensed Vocational Nurse, Case Manager
10. Management Information Systems
Median Base Salary: $58,000
Popular Entry-Level Jobs: Network Administrator, Help Desk Analyst, Business Analyst