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Identify the role and influence of reference groups on individual behaviors and preferences.
Grasp the concept of the "small world problem" and the importance of networks in social connections.
Understand common attribution errors and how they affect our perception of others.
Learn about the spontaneous and formal ways social networks form and their impact on social mobility and opportunities.

Definitions:

Economic Expansion

A phase of the business cycle where economic activity and output increase, indicating growth in the economy.

EBIT

Earnings Before Interest and Taxes - a measure of a firm's profit that includes all expenses except interest and income tax expenses.

Capital Structure

The mix of debt, equity, and other securities that a company uses to finance its overall operations and growth.

Lend Out

The act of providing money or assets to another party with the expectation that it will be returned or repaid, often with interest.

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