what is economics? textbook definition the study of how “people” make choices. a relatively new...
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What is Economics? Textbook
Definition
• The study of how “people” make choices.
A relatively
new Social
Science
• Adam Smith and John Locke
• Karl Marx and Frederich Engels
• John Maynard Keynes
A different way to look at current issues
A Different Way of Thinking Why are divorce rates at an all time high? What is the affect of weddings on the economy? Politicians – “We can increase spending on
programs, and cut your taxes.” Why does Johnny Depp make $20 million to
work 3 months? Why do the Republicans want to give tax cuts
to the rich? Why do we spend money in foreign countries
when we have people here that need help? Freakonomics Examples
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