WHAT DOES ECONOMICS

STUDY? WHAT ARE

MICROECONOMICS AND
UNIT 1 MACROECONOMICS?
(you should speak for 2 minutes)

Don’t forget to mention the following points:

1. Various ideas about Economics

2. Types of resources
MACMILLAN 3. Example of a trade-off
GUIDE TO 4. Examples of microeconomic and macroeconomic
ECONOMICS decisions
5. Positive and Normative Economics
6. How economists work

HISTORY OF ECONOMIC
THOUGHT
UNIT 1
(you should speak for 2 minutes)

Don’t forget to mention the following points:

1. Xenophon and Aristotle

MACMILLAN 2. Early economic thought
GUIDE TO 3. Economic thought in Medieval times
ECONOMICS 4. Modern Economics and Adam Smith
5. Classical and Neoclassical Economics