[GLN EC Saturday] Topic 07/09: ECONOMIC TERMINOLOGIES

Every field of study has its own language and its own way of thinking. Mathematicians talk about axioms, integrals and vector spaces. Psychologists talk about ego, id and cognitive dissonance. Lawyers talk about venue, torts and promissory estopped. Economics is no different: Supply, demand, elasticity, comparative advantage, consumer surplus, deadweight loss – terms are part of the economist’s language. So what do these terms mean? How do you understand about them if you are not student learning about Economics? In fact, these terms are everywhere in our daily lives – all day, every day! However, we have no chance to approach and talk about. Therefore, why don’t you come to GLN EC on Saturday afternoon this week and get your own understanding about Economic terminologies?

For further information, let’s go through the following timeline:

Economic terminologies

2:30pm Saturday, 7^th September 2013

10th Floor, Keangnam Office Building, Pham Hung Str, Tu Liem Dist,  Ha Noi.

2:30 – 3:00: Making friend

3:00 – 3:45: Playing game

·        Get started: “Catch the new words”

3:45 – 5:00: Discussing in pairs/groups

Deep understanding of economic concepts

A.    Concept of Economics in general

1.      What does Economics study? Tell us its definition

2.      What are microeconomics and macroeconomics?

B.     Microeconomics

3.      What is market?

4.      How do you understand “Demand & Supply” terms in economics? Do they have any relation with each other? Let’s take an example to show their relationship.

5.      Supposing that income and number of buyers are two factors influencing on demand quantity? How do they work? Let’s give us examples.

C.    Macroeconomics

6.      What is GDP?

7.      What does the term unemployment mean? Why are there always some people unemployed?

8.       What is inflation?

D.    General question

9.      What is economic crisis? How does it affect you?

5:00 – 5:30: Free talk