Osnovi Ekonomije: A Comprehensive Guide for First Grade Students
Osnovi Ekonomije is a textbook that covers the basic concepts and principles of economics for first grade students of economic schools. It is written according to the curriculum of the subject Osnovi Ekonomije, which aims to introduce students to the economic aspects of social life. The textbook is divided into four units: Introduction to Economics, Microeconomics, Macroeconomics, and International Economics. Each unit contains several chapters that explain the main topics and terms in a clear and concise way, with examples, graphs, tables, and exercises. The textbook also includes summaries, review questions, and case studies at the end of each unit.
The textbook is available in PDF format for download from the website of the publisher Zavod za udÅbenike[^2^]. The PDF file contains 17 editions of the textbook, which have been updated and revised over the years. The latest edition was published in 2019. The PDF file also contains a glossary of economic terms and an index of names and concepts.
Osnovi Ekonomije is a useful and reliable source of information for students who want to learn more about economics and prepare for their exams. It is also a valuable reference for teachers and professors who teach economics at the first grade level. Osnovi Ekonomije is one of the most popular and widely used textbooks of economics in Serbia.
In this article, we will review some of the main topics and concepts that are covered in the textbook Osnovi Ekonomije. We will also provide some examples and exercises that can help students test their knowledge and understanding of economics.
Introduction to Economics
The first unit of the textbook introduces students to the basic concepts and definitions of economics, such as scarcity, choice, opportunity cost, production possibilities frontier, economic systems, economic agents, markets, supply and demand, equilibrium, elasticity, and efficiency. It also explains the main branches and methods of economics, such as positive and normative economics, microeconomics and macroeconomics, descriptive and analytical economics, and empirical and theoretical economics. The unit also presents some of the most influential economists in history, such as Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, Milton Friedman, and others.
What is the difference between positive and normative economics
Positive economics is the branch of economics that deals with facts and observations. It describes what is happening in the economy and how it works. It does not make value judgments or prescribe policies. For example, positive economics can answer questions such as: How much is the inflation rate in Serbia What are the causes of unemployment How does trade affect economic growth
Normative economics is the branch of economics that deals with opinions and recommendations. It evaluates what is happening in the economy and how it should be. It makes value judgments and prescribes policies. For example, normative economics can answer questions such as: What is the optimal level of inflation for Serbia How can unemployment be reduced Should trade be restricted or promoted
Identify whether each of the following statements is positive or normative:
The minimum wage should be increased to improve the living standards of workers.
The minimum wage causes unemployment among low-skilled workers.
The government should balance its budget to avoid debt accumulation.