ECO 360: International Economics

Learn about the intricacies of opportunity cost and its broader implications. Delve into the balance between human and physical capital, understanding the risks of overinvestment. Grasp the Law of Diminishing Marginal Returns and its effects on national strategies.

Understand the economic implications of "cost" and its relevance in daily decision-making. Learn about shoeleather costs, including its tangible and intangible components. Grasp how different scenarios impact these costs and ways to optimize them.

Explore the fundamental concept of scarcity in economics. Understand the tension between our infinite desires and the finite resources we have. Grasp how scarcity influences our choices, necessitating trade-offs in everyday decisions.

Discover how to calculate the price level and velocity of money using real-life data. Understand the relationship between money supply, GDP, and prices in the economy. Gain insights into the Federal Reserve's strategies for managing inflation and price stability.

Explore the fundamental concept of the circular-flow diagram in economics, which simplifies the intricate interactions between households and firms. Includes examples illustrating how money, labor, and services flow between these economic actors.

Unravel the complexities of long-run economic growth and its driving factors. Discover why rising productivity stands out as the cornerstone of sustainable economic expansion. Understand the role of various elements in shaping a nation's economic trajectory.