Title

(2) How Economists Think and Analyze I: General Framework

Topic Category

Introduction

Publication Date

2011

Keywords

Economic Methodology, Economic Modeling Procedures, Economic Thinking, Maximizing, Self Interest

Abstract

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.

Run Time

5:50

Primary Discipline

Economics

Skills Delivered

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.

Rigor Level

2000

Prerequisites

none

Share

COinS