(2) How Economists Think and Analyze I: General Framework
Economic Methodology, Economic Modeling Procedures, Economic Thinking, Maximizing, Self Interest
This provides an overview of the general methodology used in economics. It discusses the "economic way of thinking," and how economists go about analyzing what goes on in the world. It discusses scarcity, simplification, self-interested maximizing behavior.
Crane, Steven E., "(2) How Economists Think and Analyze I: General Framework" (2011). Principles of Microeconomics. Paper 66.
Ability to explain the general economic modeling process. Ability to explain why/how scarcity drives economic analysis. Ability to explain key economic assumptions of self-interest and maximizing behavior, and how it relates to the primary players in an economy.