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ECN220
ECN 220 Grand Canyon Week 1 Discussion 1
Nobel prize-winning economist Milton Friedman summarized the idea
of opportunity cost with his now famous remark: “There is no such thing as a
free lunch.” What was Friedman really saying when he made this comment? Provide
two real-life examples (one professional and one personal) in which you had to
make a choice involving opportunity costs. Explain how opportunity costs
influenced your decision making.
ECN 220 Grand Canyon Week 1 Discussion 2
Is an understanding of microeconomics an important part of your
employer’s decision-making process? If so, what role does economics play in
your employer’s decisions? If not, elaborate on the noneconomic criteria your
employer uses to make business and/or organizational decisions? Provide at
least two real-life examples in which economics impacts your employer’s
decision-making process.
ECN 220 Grand Canyon Week 2 Discussion 1
All U.S. states subsidize education for college students, mostly by
charging below-cost tuition. Nearly free tuition is available in many European
countries and Canada. Do you think the government should subsidize college
education so that it can be provided with very low tuition? Or, should college
education be allocated in a
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