most people don't know much about economics or the conceptions they have are pretty out of whack. and i happen to love the discipline with a passion. there are two branches of economics -- micro and macro -- and i like things about each, but at base i am a micro person. which is fine, because macroeconomics is slowly learning more tools from micro to predict changes in the macroeconomy (more on this later). for now, though i will stick to what i truly love.
microeconomics is the study of how people make decisions. more specifically it is about the allocation of scarce resources among competing needs. think about that for a second. scarce resources among competing needs. 10 widgets and 1 wahoozit or 10 wahoozits and 1 widget, money for the war or money for health care, clean air for all people, or clean air for white people in the suburbs. the list goes on and on. cost-benefit is one way to think about it but only when all the costs and benefits are taken into account.
occasionally i will blog about economics. i will try to makes economics seem important and accessible. someday i want to teach the subject, so i might as well start honing those skills here. also i think that, generally, breaking down the discourse of the discipline so that anyone can understand it is to everyone's benefit.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment