Wednesday, January 22, 2014

Economics is Not What You Thought

At the start of Principles of Microeconomics, I find many students who are not sure what the course is about, or what economics is about - which is just fine - this is the time to start answering that question.  Economics is a science about human behavior - making economics a social science.  It is not just about the stock market (although there is a plethora of economics within the stock market); it is not just about inflation, unemployment or other national economic activity - rather economics is about how to answer questions about human behavior.  The New York Times has a great piece on some younger economists who are looking at human behavior in what many would not initially think are economic areas.  Check it out!

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