Critical Introduction to Law Lecture 1 Spring Term

Description

An Introduction to Economic Life
Maryam Z
Note by Maryam Z, updated more than 1 year ago
Maryam Z
Created by Maryam Z almost 9 years ago
14
0

Resource summary

Page 1

Critical Introduction to LawAn Introduction to Economic Life What is economic life to (most) sociologists?Actions & interactions production, distribution, exchange & consumption of goods & services motivated by various sets of values & interests. But economists don't believe this one. they believe we all are oriented by our 'hand' aspect. Regimes (systems) governing (inter) actions affecting/affected by (inter) actions & rationalities. They also don't believe in this. They don't think it takes place in the everyday life. Rationalities Multiple, equally valid, modes of reasoning (pragmatic, theoretical, value-based, rule-based) To an economists humans are: Rational logically calculating Utility Happiness, satisfaction Maximisers More is always better So efficiency is crucial Allocation Use So because of this they believe it's important that you use your time effectively, and you will make sure of this because you're rational. To use your money and time as efficiently as possible. What are the aims of economics?Understanding via analysis of: Material prospects (of households, firms, groups, regions, nations) in present + future + uncertainty Choices + how they influence future prospects How current circumstances were inherited

Show full summary Hide full summary

Similar

SAT Vocab 2
Muffins31
Polymerisation.
anjumn10
P2a (part 2)
juliasutton
Exam 2- High Renaissance/Baroque
Rachel Masingill
AS Psychology Unit 1 - Memory
Asterisked
exchange midterm
maxwell3254
Input, output and storage devices
Mr A Esch
Drugs
Z S
PSBD TEST 2-2
Mwebaze Green
PSBD/PSCOD Model exam - 4
VS Manikkuttan
A child with a stiff neck
fatima alkhateeb