May 17th, 2015
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Market – a group of buyers and sellers of a good or service and the institution or arrangement by which they come together or trade. Marginal analysis; Analysis that involves comparing marginal benefits and marginal costs.

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Global Economy Lecture 1Matt LarkinMacroeconomics 2nd edition = ipad on front cover - hubbardgarnet Louis obrien.Consultation on Monday (b4.06), wednes and ThursdayLb Thursday at 3pm for a support tute.Assessments 15% online test 25% individual written assignment due on 12th may income lab practice qs online only if bought new copy ofbook 60% final exam. (hurdle)Deakin referencing; reference Harvard- go to deakin library siteTopic 1Market a group of buyers and sellers of a good or service and theinstitution or arrangement by which they come together or trade.3 key ideas1. people are rational2. respond to economic incentives3. optimal decisions are made at the margin.Marginal analysis; Analysis that involves comparing marginalbenefits and marginal costs.Optimal - outcome achieved is the best possible out

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