interactive learning 12

February 21, 2023February 21, 2023 Discipline: Economics

Interactive Activities-week-12

Week 12: Interactive activity

12.1 Learning Outcomes

1. Analyze a market supply, demand, and equilibrium for factors of production, including labor
2. Apply key principles of economics to a market for factors of production
3. Explain the income and substitution effects of a wage change in a labor market
4. Explain why wages differ across occupations and levels of human capital
5. Reflect on your learning experiences

12.2 Action Required:

Reading

Read the following to prepare for this week:

  • Survey of Economics, Chapter 10: Imperfect Information, External Benefits, and External Costs

Video:

Watch the following video(s), which you can access in the Weekly Media object or by clicking on the link(s) below: and answer the question.

MIT OpenCourseWare video lecture series, “Uncertainty�

12.3 Test your Knowledge (Question):

Question: Discuss why do wages differ across occupations?

12.4 Instructions

  • Answer the question in test your knowledge section.
  • Post your answer in the discussion board using the discussion link below (Week12: Interactive learning Discussion

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