Economic Models: A discussion of what a model is and how it is developed is important at this stage, particularly for students who are new to the economic way of thinking.  It should be emphasized early on that the models that will be used throughout the text and course are developed with particular goals in mind, and those goals often do not include exactly mimicking reality.  For some students this comes as a shock, but a reminder that there is often tradeoff between reality and simplicity versus ease of use is usually well received.

 

A discussion of the role of theories, models, hypotheses, and perhaps even a quick review of the scientific method would be time well spent at this stage as well.  This naturally will include a discussion of positive versus normative statements and analysis.