This document appears to be a lecture or class material from an economics course taught by Gale L. Pooley on September 4. It covers many topics from the syllabus, assignments, reading material, and key concepts to be covered in the class including scarcity, incentives, tradeoffs, economic models, and the relationship between supply and demand shown through quantity and price on a graph. It encourages students to think like economists and understand subjects like wealth, globalization, income growth over time, and relationships that can be shown through graphs, percentages and other data analysis.

1. ECO 101
Microeconomics
Wednesday, September 4, 13

2. Gale L. Pooley,
Ph.D., MAI, MRICS, CCIM, SRA
gpooley@alfaisal.edu
Office B3-44
Wednesday, September 4, 13

3. Wednesday, September 4, 13

4. Wednesday, September 4, 13

5. Wednesday, September 4, 13

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21. Wednesday, September 4, 13

22. Wednesday, September 4, 13

23. Wednesday, September 4, 13

24. How did this happen?
Wednesday, September 4, 13

25. Wednesday, September 4, 13

26. Prince Alwaleed bin Talal al Saud
Wednesday, September 4, 13

27. Prince Alwaleed bin Talal al Saud
Wednesday, September 4, 13

28. Prince Alwaleed bin Talal al Saud
Bill Gates
Wednesday, September 4, 13

29. Prince Alwaleed bin Talal al Saud
Bill Gates
Wednesday, September 4, 13

30. Scarcity
Wednesday, September 4, 13

31. Scarcity
Choices
Wednesday, September 4, 13

32. Scarcity
Choices
Tradeoffs
Wednesday, September 4, 13

33. Make Better
Choices
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34. Wednesday, September 4, 13

35. Wednesday, September 4, 13

36. Syllabus
elearning.alfaisal.edu
download and print
Wednesday, September 4, 13

37. Time Commitment
Class
3 Hours
Homework
6 Hours
Total
9 Hours
Wednesday, September 4, 13

38. Class Blog
afecon101.blogspot.com
Moodle
elearning.alfaisal.edu
Wednesday, September 4, 13

39. eBook
Download
Use for
Micro
and
Macro
Wednesday, September 4, 13

40. Who is
responsible
for your
education?
Wednesday, September 4, 13

41. Who is
responsible
for your
education?
Good
Grades
or
Knowledge?
Wednesday, September 4, 13

42. Think
like an
Economist
Wednesday, September 4, 13

43. Words
Numbers
Illustrations
Wednesday, September 4, 13

44. Economist’s
Dictionary
Wednesday, September 4, 13

45. Facts
Wednesday, September 4, 13

46. Facts
Reasons
Wednesday, September 4, 13

47. Facts
Reasons
who what where when how
Wednesday, September 4, 13

48. Facts
Reasons
who what where when how
why
Wednesday, September 4, 13

49. Get the most
out of life
Wednesday, September 4, 13

50. Rational
Incentives
Margin
Wednesday, September 4, 13

51. Optimize
Tradeoffs
Wednesday, September 4, 13

52. Tradeoffs
Mileage Safety
A 2001 National Academy of Sciences study estimated that the traffic
death toll attributable to past downsizing was approximately 2,000 lives
per year.
Wednesday, September 4, 13

53. Economic Models
Wednesday, September 4, 13

54. Economic Models
SimplifiedVersion of
Reality
Wednesday, September 4, 13

55. Economic Models
SimplifiedVersion of
Reality
Value in Prediction
Wednesday, September 4, 13

56. Incentives Matter
Wednesday, September 4, 13

57. Incentives Matter
Change Incentives
Change Behavior
Wednesday, September 4, 13

58. Incentives are
more important
than goals
Wednesday, September 4, 13

59. Consequences
matter more than
intentions
Wednesday, September 4, 13

60. Unintended
Consequences
Wednesday, September 4, 13

61. Macro Micro
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63. Wednesday, September 4, 13

64. Wednesday, September 4, 13

65. Science
Wednesday, September 4, 13

66. Science
Hard
Soft
Wednesday, September 4, 13

67. Soft Science
Wednesday, September 4, 13

68. Soft Science
People don’t
always do the
same thing
Wednesday, September 4, 13

69. Soft Science
Wednesday, September 4, 13

70. Soft Science
Most people
most of the time
Wednesday, September 4, 13

71. What is Wealth?
Wednesday, September 4, 13

72. What is Wealth?
What People Want
Wednesday, September 4, 13

73. Get wealthy
by making
others happy
Wednesday, September 4, 13

74. Every person
has the power
to create wealth
Wednesday, September 4, 13

75. Because every
person has the
power to make
someone happy
Wednesday, September 4, 13

76. Wednesday, September 4, 13

77. What if
Steve Jobs
had been
born in
Syria like
his father?
Wednesday, September 4, 13

78. What is worth the most?
Wednesday, September 4, 13

79. Where
is the
iPhone
made?
Wednesday, September 4, 13

80. Global Device
Wednesday, September 4, 13

81. Global Device
Wednesday, September 4, 13

82. Global Device
Wednesday, September 4, 13

83. ARM Holdings
Wolfson
Marvel
Skyworks
CSR
Linear Technologies
NXP
National Semiconductor
Sharp
Samsung
Toshiba
Infineon
Broadcom
Numonyx
Micron
Dialog Semiconductor
Texas Instruments
STMicroelectronics
Silicon Storage
RF Microdevices
Cirrus Logic
U.S.
U.K.
Germany
Korea
Japan
Taiwan
China
Wednesday, September 4, 13

84. Where was this
t-shirt made?
Wednesday, September 4, 13

85. Where was this
t-shirt made?
Wednesday, September 4, 13

86. Wednesday, September 4, 13

87. Wednesday, September 4, 13

88. Wednesday, September 4, 13

89. Wednesday, September 4, 13

90. Ideas
occur in minds
not places
Wednesday, September 4, 13

91. Hockey
Stick
Trends
Wednesday, September 4, 13

92. Angus Maddison
Wednesday, September 4, 13

93. Angus Maddison
1
AD
Wednesday, September 4, 13

94. Angus Maddison
20121
AD
Wednesday, September 4, 13

95. Angus Maddison
20121
AD
$100
Wednesday, September 4, 13

96. Angus Maddison
Income
Per
Person
Per
Day
20121
AD
$100
Wednesday, September 4, 13

97. $3
Angus Maddison
Income
Per
Person
Per
Day
20121
AD
$100
Wednesday, September 4, 13

98. $3
Angus Maddison
Income
Per
Person
Per
Day
20121
AD
$100
Wednesday, September 4, 13

99. 20121
AD
$3
$100
Angus Maddison
Income
Per
Person
Per
Day
Wednesday, September 4, 13

100. 20121
AD
$3
$100
1820
Angus Maddison
“The Millennium–Poor Until 1820”
Income
Per
Person
Per
Day
Wednesday, September 4, 13

101. 20121
AD
$3
$100
$30
World
10x
1820
Angus Maddison
“The Millennium–Poor Until 1820”
Income
Per
Person
Per
Day
Wednesday, September 4, 13

102. 20121
AD
$3
$100
$30
World
10x
Northern Europe
North America
33x
1820
Angus Maddison
“The Millennium–Poor Until 1820”
Income
Per
Person
Per
Day
Wednesday, September 4, 13

103. Slope
Percentage Change
Relationships
Cause and Effect
Areas
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104. Wednesday, September 4, 13

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113. X
Y
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114. X
Y
Quantity
Price
Wednesday, September 4, 13

115. X
Y
Quantity
Price
Q
P
Wednesday, September 4, 13

116. Q
P
Wednesday, September 4, 13

117. Q
P
Wednesday, September 4, 13

118. Q
P
Wednesday, September 4, 13

119. Q
P
Wednesday, September 4, 13

120. Q
P
Wednesday, September 4, 13

121. Q
P
Wednesday, September 4, 13