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PRINCIPLES OF
MICROECONOMICS
FOURTH EDITION
N. G R E G O R Y M A N K I W
PowerPoint® Slides
by Ron Cronovich
Decision making is
at the heart of
economics.
The first four
principles deal with
how people make
decisions.
14
0
HOW PEOPLE INTERACT
An “economy” is just
a group of people
interacting with
each other.
The next
three principles
deal with how people
interact.
23
0
HOW THE ECONOMY AS A WHOLE WORKS