100		Lecture Topics
wk	date	day
1	3-Jan	tues	http://seattlecentral.edu/faculty/jhubert/fear.html
			well-defined objective function
			impeachment
			econ social science
			institutional framework
			hitler
			ghandi on gun control
			when will we run out of oil?
			treat students as adults
	4-Jan	wed	hybrid
	5-Jan	thur	thomas quote
			marshall quote
			consequences rather than intentions
			self-interest assumption
			scarcity implies competition
			trade creates wealth out of  thin air
			$4  for a latte
			actions reveal preferences
			wealth defined
	6-Jan	fri	discussion of sowell and sowell articles
			factors of production
			capital-intensive production function
			labor-intensive
			capital defined
			profit discussed
			capitalism punishes mistakes: coke in 1985
			positive-sum game
			do we need clean water?
			do we need clean air?
			needs vs wants
2	9-Jan	mon	zero-sum game
			how to distribute that which is produced?
			labor/capital intensive production function
			entreprenuers: assume risk, organize other three factors
			demand: willingness and ability to pay
			hispanic bank
			exploited part-time instructors
			runner at ft. lewis
			incentives and disincentives
			all actions have costs
			hispanic bank
			urban farming
			exploited part-time instructor
			what to produce? How to produce it? How to distributed what is produced?
			relative prices;
			labor-intensive production function; capital-intensive production function;
			horizontal-intensive production function; vertical-intensive production
			news story re: ft lewis runner
			demand: willingness and ability to pay
			fundamental assumption: expected marginal benefit/expected cost
			equation: expected mb(x) > expected mc(x); then x
			opportunity costs defined
	10-Jan	tues	education defined - progressive discovery of our ignorance
			will durant, historian
			do we want the best for our children?
			Boeing letter
			adam smith quote: butcher, baker…
			http://seattlecentral.edu/faculty/jhubert/smith.html
			two steps of public policy evaluation
			scarcity implies competition
			positive, normative economics defined
			group work on reading re: oil spill
	11-Jan	wed	hybrid
	12-Jan	thur	unloading trucks
			http://seattlecentral.edu/faculty/jhubert/tutoring.html
			more on min wage
			dismal science
			1849 thomas carlyle, historian
			production possibilities model
			bob's service station and exploitation
	13-Jan	fri	efficiency = value of output / value of input
			http://seattlecentral.edu/faculty/jhubert/efficiency.html
			allocative efficiency
			technical efficiency
			fairness has a price; there is no free lunch
			singer sewing machine and the threat to jobs
			comparative advantage - not defined
3	16-Jan	mon	holiday
	17-Jan	tues	snow day
	18-Jan	wed	hybrid
	19-Jan	thur	snow day
	20-Jan	fri	snow day
4	23-Jan	mon	demand: willingness and ability to pay
			supply
			change in quantity demanded
			pay day loan discussion
			elasticity: sensitivity or responsiveness to price changes
	24-Jan	tues	sick
	25-Jan	wed	hybrid
	26-Jan	thur	mispricing
			demand
			supply
			http://seattlecentral.edu/faculty/jhubert/pedproblem.html
			change in quantitiy demanded
			shortages
			surpluses
			price floor
			minimum wage
			minimum wage: which group is harmed?  The most vunerable, those without skills
			prices provide information to decision makers regarding relative scarcity
			weltanschauung
			world view; philosophy of life; a framework
			through which to interpret the world.
			default risk
			usury law
			tariff
	27-Jan	fri	inflation defined
			helicopter example
			change in demand vs change in quantity demanded
			cp conditions for demand
			tastes
			income
			expectations
			weather
			prices of related goods
			substitutes and complements
			tariffs
5	30-Jan	mon	cp conditions for supply
			corporate welfare
	31-Jan	tues	The (Dis)incentives of Higher Taxes - group work
			(why) are women paid less? - group work
			price elasticity of demand
			determinants: substitutes, time, proportion of budget
			tr = p X q
			gender and wages table - lower wages & equal productivity
			us vs china: change in naval fleet size
	1-Feb	wed	hybrid
	2-Feb	thur	comparative and absolute advantage
			http://seattlecentral.edu/faculty/jhubert/advantage.html
			betty the typist
			comparative advantage - david ricardo 1772 - 1823
			specialization and trade
			income distribution
			income defined
			psychic income
			constrained choices
	3-Feb	fri	overheads: income distribution
			different skills lead to diff. outcomes
			skills valued differently: football and soccer, guitar and accordian
			frank chong letter
			blue and green people graph
			employers must pay "opportunity costs" to retain employees
6	6-Feb	mon	interest defined
			fisher effect
			perceived default risk
			patience
			housing bubble
			quantity and quality of y
			loan term, principal
			tattoos
	7-Feb	tues	overheads: income distribution
			women and calculus sccc data
			advantage of unskilled labor: willingness to work for a low wage
			must have the ability to work at low wage
			northkorea
			nyc wages
			nike in third world counties
	8-Feb	wed	hybrid
	9-Feb	thur	mt exam review
	10-Feb	fri	mt exam