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<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><title>ET DCM1107 on Freedoms4</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/</link><description>Recent content in ET DCM1107 on Freedoms4</description><generator>Hugo</generator><language>en-us</language><managingEditor>your-email@example.com (Freedoms4)</managingEditor><webMaster>your-email@example.com (Freedoms4)</webMaster><atom:link href="https://freedoms4.org/uninotes/s1/et-dcm1107/index.xml" rel="self" type="application/rss+xml"/><item><title>Unit 1</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit1/live/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit1/live/</guid><description>&lt;h3 class="heading" id="april-9-2026"&gt;
&lt;em&gt;&lt;strong&gt;April 9, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#april-9-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><title>ET DCM1107 on Freedoms4</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/</link><description>Recent content in ET DCM1107 on Freedoms4</description><generator>Hugo</generator><language>en-us</language><managingEditor>your-email@example.com (Freedoms4)</managingEditor><webMaster>your-email@example.com (Freedoms4)</webMaster><atom:link href="https://freedoms4.org/uninotes/s1/et-dcm1107/index.xml" rel="self" type="application/rss+xml"/><item><title>Unit 1</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit1/live/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit1/live/</guid><description>&lt;h3 class="heading" id="april-5-2026"&gt;
&lt;em&gt;&lt;strong&gt;April 5, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#april-5-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="course-objectives"&gt;
Course Objectives&lt;span class="heading__anchor"&gt; &lt;a href="#course-objectives"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;A) Develop analytical skills for interpreting consumer decision-making and market behaviour using economic tools.&lt;br&gt;
B) Examine cost and revenue structures of firms.&lt;/p&gt;</description></item></channel></rss>
B) Examine cost and revenue structures of firms.&lt;/p&gt;
&lt;h2 class="heading" id="definition-of-economics-by-various-individuals"&gt;
Definition of Economics by various individuals&lt;span class="heading__anchor"&gt; &lt;a href="#definition-of-economics-by-various-individuals"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;A) Wealth Definition by Adam Smith.&lt;br&gt;
B) Welfare Definition by Alfred Marshall.&lt;br&gt;
C) Scarcity Definition by Robbins.&lt;br&gt;
D) Growth Defintion by Samuelson.&lt;/p&gt;
&lt;h2 class="heading" id="nature"&gt;
Nature&lt;span class="heading__anchor"&gt; &lt;a href="#nature"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;h3 class="heading" id="a-economics-as-a-science"&gt;
A) Economics as a Science&lt;span class="heading__anchor"&gt; &lt;a href="#a-economics-as-a-science"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;ol&gt;
&lt;li&gt;Positive (what is, based on data and logic)&lt;/li&gt;
&lt;li&gt;Normative (what ought to be, opinions, judgements)&lt;/li&gt;
&lt;/ol&gt;
&lt;h3 class="heading" id="b-economics-as-an-art"&gt;
B) Economics as an Art&lt;span class="heading__anchor"&gt; &lt;a href="#b-economics-as-an-art"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;ol&gt;
&lt;li&gt;Pure (what ought to be, ideals and goals)&lt;/li&gt;
&lt;li&gt;Applied (real world, how to implement)&lt;/li&gt;
&lt;/ol&gt;
&lt;h3 class="heading" id="a-described-economics-as-a-science"&gt;
A) Described Economics as a Science&lt;span class="heading__anchor"&gt; &lt;a href="#a-described-economics-as-a-science"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;ol&gt;
&lt;li&gt;Focuses on laws and cause-and-effect relationships (e.g Law of Demand).&lt;/li&gt;
&lt;li&gt;Models to predict economic outcomes.&lt;/li&gt;
&lt;li&gt;Data analysis, observation, hypothesis.&lt;/li&gt;
&lt;li&gt;Real-world evidence.&lt;/li&gt;
&lt;li&gt;Deductive and Inductive reasoning.&lt;/li&gt;
&lt;/ol&gt;
&lt;ul&gt;
&lt;li&gt;Limitaion: Human behaviour involved.&lt;/li&gt;
&lt;/ul&gt;
&lt;h2 class="heading" id="methods"&gt;
Methods&lt;span class="heading__anchor"&gt; &lt;a href="#methods"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;A) Inductive (specific -&amp;gt; general).&lt;br&gt;
B) Deductive (general -&amp;gt; specific).&lt;/p&gt;</description></item></channel></rss>