Course review
Review each learning objective in this topic, then open its concept explanation or question set.
Learning objective
• Positive economics uses logic, hypotheses, models, theories, ceteris paribus, empirical evidence, and refutation • Normative economics involves value judgments in policy making • Equity and equality are distinct ideas and may be interpreted differently
Start with the concept explanation, then practise to create mastery evidence.
Learning objective
• 18th century thought includes Adam Smith and laissez faire • 19th century thought includes classical microeconomics, utility, the margin, Say's law, and Marxist critique • 20th century thought includes the Keynesian revolution, macroeconomic policy, monetarism, and new classical counter-revolution • 21st century thought includes behavioural economics, interdisciplinarity, sustainability, interdependence, and circular economy ideas
Start with the concept explanation, then practise to create mastery evidence.