100		Lecture Topics
wk	date	day
1	5-Jan	mon	hubert fear and information
			impeachment
			when will we run out of oil?
			ghandi, hitler on gun control
			my first house
	6-Jan	tues	institutional framework
			c. thomas quotation "animus"
			opportunity cost
			georgetown and garbage transfer station
			actions reveal preferences
			what to produce?
	7-Jan	wed	wealth defined
			all actions have costs
			bob and greg book trade
			trade creates wealth out of thin air overhead (coffee example)
			nike and third world countries
			no and so korea
			incentives and disincentives
			factors of production and returns
			poverty and choices
	8-Jan	thur	well-defined objective functions
			why are you in school
			how to produce it?
			relative prices
			labor/capital intensive production function
			vertical / horizontal intensive production function
			economists are not well liked as a rule
			nick holt $2.1 million contract
			ft lewis runner
			hispanic bank
			fundamental assumption of economics
			mistakes due to imperfect information - bad dates
			scarcity implies competition
			needs vs wants
			incentives and disincentives
			rationality assumption
			economics is a behavioral science
			do we want the best for our children
			boeing and schrontz
			do we want the best?  Lakeside school
	9-Jan	fri	group work on readings: fairness & safety
			fairness has a price
			define "fair"
			mother theresa and lepersarium
			butcher, baker…excerpt from the wealth of nations book
2	12-Jan	mon	public policy steps
			positive/normative economics
			promarket bias
			opera tickets
			trade: rearranging goods and services to a higher ordered pattern
			transaction costs defined
			boeing and schrontz
			ceteris paribus
			positive-sum game, zero-sum game
			poker: zero-sum game
			unloading truck
		???	comic books and trade and wealth
	13-Jan	tues	mankiw video on 10 essentials
	14-Jan	wed	the nature of poverty
			friedman quote re: profits and social welfare
			group work
			$700 billion bailout discussion
			cra
	15-Jan	thur	allocation mechanisms thru tirage
			heyne's definition of efficiency
			allocative / technical efficiency
	16-Jan	fri	group work on readings
			well-defined property rights
			well-enforced property rights
			bison vs cattle
	19-Jan	mon	holiday - no class
	20-Jan	tues	video - friedman
			keynes was an elitest
	21-Jan	wed	demand - downward sloping demand curve
			inverse relationship
			supply - upward sloping supply curve (babby sitting example)
			quantity demanded - movement along the demand curve
			equilibrium price: qty demanded = qty supplied
			surplus: qty supplied > qty demanded
			shortage: qty supplied < qty demanded
			mispricing
			negative income tax
			milk shortage
			poor less able to compete than nonpoor
	22-Jan	thur	when should you be at work?  Leave?
			min wage and discrimination
			min wage - roosevelt 1938
			portfolio theory and gold and bow ties
	23-Jan	fri	group work on readings
4	26-Jan	mon	usury law
			rent control (price ceiling)
			eco usa video - markets
	27-Jan	tues	elasticity: substitutes, time, proportion of budget
			http://seattlecentral.edu/faculty/jhubert/cpdemand.html
			completed
			tax cut versus infrastructure spending
			inflation always a monetary phenomenum
	28-Jan	wed	group work on readings
			free trade vs fair trade: the opposite of free trade is costly trade
	29-Jan	thur	http://seattlecentral.edu/faculty/jhubert/cpsupply.html
			not finished
			taxes and behavior: the stones
			nea
			state farm
			rolling stones and taxes
			cartels defined
			shilshole bay marina and shortages and mispricing and subsidies
	30-Jan	fri	group work on Heyne on justice
			fullfilment of legitament expectations
			cicero - agreement regarding compacts
			justice examples: being on time and prepared for class
5	2-Feb	mon	price elasticity of demand
			elasticity: substitutes, time, proportion of budget
			textbook prices
			heroin
			tr = p X q
			group discussion on vocation education reading
			high school dating: date only those with high grades
			poverty and choices
			constrained choices
			incentives and disincentives
			tattoos