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Thursday, April 3, 2008

About Economics: Weekly Update (Vol. 6, No. 14)

About.com   Economics
In the Spotlight | More Topics |
  from Mike Moffatt
This week we consider property rights, arbitrage and opportunity costs. Enjoy!

 
In the Spotlight
Why Teach the Solow Model? Why Teach The Coase Theorem?
A debate on what should be taught in early Macroeconomics courses. I discuss the value of including the Coase theorem.

 
         More Topics
What is Arbitrage?
A student asks: "What is arbitrage? What markets do arbitrageurs usually trade on?" Here we examine those questions.

 
What are Opportunity Costs?
Unlike most costs discussed in economics, an opportunity cost is not always a number. The opportunity cost of any action is simply the next best alternative to that action - or put more simply, "What you would have done if you didn't make the choice that you did"...

 
 
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