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Vietnam-Netherlands Programme for M.A. in Development Economics

- No unique concept - Conventional concept: Economics is a social science that studies the allocation of scare resources to competing uses in order to maximize the benefit of individuals, organizations and economy. - A different perspective: Economics as a science studying markets (James Buchanan). | Vietnam-Netherlands Programme for M.A. in Development Economics Course Microeconomics Pindyck Rubinfeld 2000 By Nguyen Van Phuc Spring 2006 Chapter 1 Preliminaries What is Economics No unique concept Conventional concept Economics is a social science that studies the allocation of scare resources to competing uses in order to maximize the benefit of individuals organizations and economy. A different perspective Economics as a science studying markets James Buchanan . Chapter 1 Preliminaries Slide