PRINCIPLES OF ECONOMICS
Presented by : Badr
KHARBOUCH
Pr Kaltoum Lajfari - FSJES
Souissi
University year : 2022/2023
Mohammed V University in Rabat
Faculty of Economics, Law and Social Sciences
MASTER: Economic Analysis and Modelling
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PRINCIPLES OF ECONOMICS
Presented by : Badr KHARBOUCH Pr Kaltoum Lajfari - FSJES Souissi University year : 2022/ Mohammed V University in Rabat Faculty of Economics, Law and Social Sciences MASTER: Economic Analysis and Modelling
Although the study of economics has many facets, the field
is unified by several central ideas. The Ten Principles of
Economics offer an overview of what economics is all
about.
IN TRODUCTIO N
QUESTIONS
how people make
how deci speopleions? interact?
how the economy as a whole works?
People face tradeoffs.
PRINCIPLES ABOUT INDIVIDUALS DECISIONS MAKING:
The cost of something is what you give up to get it.
Rational people think at the margin.
People respond to incentives.
Trade can make everyone better off.
Markets are usually a good way to organize economic
activity.
PRINCIPLES ABOUT HOW PEOPLE INTERACT WITH EACH OTHER:
Governments can sometimes improve economic outcomes.
PRINCIPLE 5 : TRADE CAN MAKE EVERYONE
BETTER OFF.
Trade can be mutually beneficial.
PRINCIPLE 6 : MARKETS ARE USUALLY A GOOD
WAY TO ORGANIZE ECONOMIC ACTIVITY.
Markets are usually a good way of coordinating trade among people.
PRINCIPLE 7 : GOVERNMENTS CAN SOMETIMES
IMPROVE MARKET OUTCOMES.
When a market fails to allocate resources efficiently, the government can change the outcome through public policy.
PRINCIPLE 8 : A COUNTRY'S STANDARD OF
LIVING DEPENDS ON ITS ABILITY TO PRODUCE
GOODS AND SERVICES.
Productivity is the ultimate source of livingstandards.
PRINCIPLE 9 : PRICES RISE WHEN THE GOVERNMENT
PRINTS TOO MUCH MONEY.
Money growth is the ultimate source of inflation.
PRINCIPLE 10 : SO CIETY FA CES A SHO RT-RUN
TRADE-O FF BETWEEN INFLATION AND
UNEMPLOYMENT.
Reducing inflation often causes a temporary rise in unemployment.
T H A N K S FOR WATC HING.