Purpose Transfer Punches Transfers the location of a hole on a part based on the location of a hole from a mating part. Location The transfer punches are located in cabinet #10 How it’s used Part B: The part to be punched to find hole locations. Step 1: Place Part B on a stable surface (such as a table). Step 2: Obtain a transfer punch with a loose fitting yet nearly equal diameter that fits through the hole in part A. Step 3: Place Part A in the correct location with respect to Part B. Note: this process is simplified if this part is placed on top Safety Be careful not to strike hands with hammer in Step 4. Part A: Template part for desired hole locations on Part B. Step 4: Put the punch through the hole such that the pointed ends rests on part B and strike with a small hammer. Step 5: Remove the punch and Part A from Part B. Step 6: Perform drilling operations on Part B located by punch marks. Novice Tip Make sure Part A and B are aligned correctly before setting hole with the transfer punch.
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The Diverse Fields of Economics TABLE 1.2 The Fields of Economics (continued) Industrial organization looks carefully at the structure and performance of industries and firms within an economy. How do businesses compete? Who gains and who loses? International economics studies trade flows among countries and international financial institutions. What are the advantages and disadvantages for a country that allows its citizens to buy and sell freely in world markets? Why is the dollar strong or weak? Labor economics deals with the factors that determine wage rates, employment, and unemployment. How do people decide whether to work, how much to work, and at what kind of job? How have the roles of unions and management changed in recent years? Law and economics analyzes the economic function of legal rules and institutions. How does the law change the behavior of individuals and businesses? Do different liability rules make accidents and injuries more or less likely? What are the economic costs of crime? Public economics examines the role of government in the economy. What are the economic functions of government, and what should they be? How should the government finance the services that it provides? What kinds of government programs should confront the problems of poverty, unemployment, and pollution? What problems does government involvement create? Urban and regional economics studies the spatial arrangement of economic activity. Why do we have cities? Why are manufacturing firms locating farther and farther from the center of urban areas? © 2014 Pearson Education, Inc. 14 of 36
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PART I INTRODUCTION TO ECONOMICS The Scope and Method of Economics 1 CHAPTER OUTLINE Why Study Economics? To Learn a Way of Thinking To Understand Society To Be an Informed Citizen The Scope of Economics Microeconomics and Macroeconomics The Diverse Fields of Economics The Method of Economics Theories and Models Economic Policy An Invitation Appendix: How to Read and Understand Graphs © 2014 Pearson Education, Inc. 3 of 36
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The Method of Economics positive economics An approach to economics that seeks to understand behavior and the operation of systems without making judgments. It describes what exists and how it works. normative economics An approach to economics that analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe courses of action. Also called policy economics. © 2014 Pearson Education, Inc. 15 of 36
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Economics 305: Economics from an Institutional Standpoint (Winter 1937) I. 1. 2. 3. 4. 5. 6. 7. The Institutionalist Movement AEA Round tables on Institutional Economics (AER 1931 and 1932) Veblen Criticism of Veblen (Homan, Teggart, Harris) Commons Tugwell’s Trend of Economics (chapters by Mitchell, Clark, Tugwell, Copeland) Hamilton Criticism of institutionalism (Homan, Flugge) II. 1. 2. 3. 4. 5. The Historical Schools of Economic Thought Older Historical Economics (Roscher, Hildebrand, Knies) Later Historical School (Schmoller, Bucher) Historical Economics in England (Leslie, Ashley) Neo-Historical School in Germany (Sombart, Weber, T. Parsons and others) Tawney
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Value of Lost Load (VoLL) Country/Region United Kingdom Countries of the European Union VoLL ($/MWh) Source $22,000 London Economics $12,290 - $29,050 European Commission United States $7,500 Brattle Group MISO $3,500 MISO New Zealand $41,269 London Economics Victoria - Australia $44,438 London Economics Australia $45,708 London Economics Ireland Northeast USA © 2018 D. Kirschen and the University of Washington $9,538 London Economics $9,283-$13,925 London Economics 6
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Economics  Sub-disciplines  Labor Economics, International Trade, Production, etc.  Most relevant to us  Agricultural Economics - first program at University of Wisconsin in 1909 – an applied social science that deals with how producers, consumers and societies use scarce resources in the production processing and marketing of food and fiber products.  Natural Resource Economics (Resource Economics) – the study of how the flow of goods and services derived from natural resources is, and ought to be managed in today’s world. ( Field, Natural Resource Economics – 2001, page 37)
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1960s 1970s 1980s 1990s 2000+ Primary Role of IT Efficiency Automate existing paperbased processes Effectiveness Solve problems and create opportunities Strategic Increase individual and group effectiveness Strategic Transform industry/organizati on Value creation Create collaborative partnerships Justify IT expenditure ROI Increasing productivity and decision making Competitive position Competitive position Adding Value Target of systems Organization Individual manager/ Group Business processes Business processes ecosystem Customer, supplier, ecosystem Information model Application specific Data-driven User-driven Business-driven Knowledgedriven Dominant technology Mainframebased Minicomputerbased Microcomputer “decentralized intelligence” Client-Server “distribution intelligence” Internet “ubiquitous intelligence” Basis of Value Scarcity Scarcity Scarcity Plentitude Plentitude Underlying economics Economic of information bundled w/ economics of things Economic of information bundled w/ economics of things Economic of information bundled w/ economics of things Economic of information separated f/ economics of things Economic of information separated f/ economics of things Figure 2.1 Eras of information usage in organizations Copyright 2006 John Wiley & Sons, Inc. 6
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Journals that publish medical education work Medical Education and Health Professions Education Journals Academic Medicine (2.338) Advances in Health Sciences Education: Theory and Practice (1.412) Advances in Physiology Education (1.542) BMC Medical Education (1.04*) Canadian Medical Education Journal Clinical Teacher (0.443*) Education for Health: Change in Learning & Practice Evaluation & the Health Professions (1.140) Focus on Health Professional Education (0.882*) Journal of Advances in Medical Education and Practice Journal of Cancer Education Journal of Continuing Education in the Health Professions (1.000) Journal of Graduate Medical Education Journal of Health Professions Education Journal of Surgical Education Journal of the International Association of Medical Science Educators Medical Education (2.696) Medical Education Development Medical Education Online Medical Teacher (1.333) Perspectives on Medical Education Postgraduate Medical Journal (1.384) Simulation in Healthcare (1.667) Teaching and Learning in Medicine (0.741)
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Certifiable Minors MC-EA majors must complete a certifiable minor. • Biology Education • Chemistry Education • Computer Science Education • Earth Science Education • English Education • French Education • General Science Education • Geography Education • German Education • History Education • • • • • • • • • Math Education Physics Education Political Science Education School Health Education Social Studies Education Sociology Education Spanish Education Special Education Teaching English to Speakers of other Languages (TESOL) It is important to plan the course work for your minor early on since some classes are offered at only certain times
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Part 15: Binary Choice [ 131/97] APPLICATION: GENDER ECONOMICS COURSES IN LIBERAL ARTS COLLEGES Burnett (1997) proposed the following bivariate probit model for the presence of a gender economics course in the curriculum of a liberal arts college: The dependent variables in the model are y1 = presence of a gender economics course, y2 = presence of a women’s studies program on the campus. The independent variables in the model are z1= constant term; z2= academic reputation of the college, coded 1 (best), 2, . . . to 141; z3= size of the full time economics faculty, a count; z4= percentage of the economics faculty that are women, proportion (0 to 1); z5= religious affiliation of the college, 0 = no, 1 = yes; z6= percentage of the college faculty that are women, proportion (0 to 1); z7–z10 = regional dummy variables, south, midwest, northeast, west. The regressor vectors are x  z1 , z2 , z3 , z4 , z5 , w 2 z2 , z6 , z5 , z7  z10 .
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