Economics Explains It All
How does economics “explain it all”? By recording, analyzing, and studying the way people behave in markets, with the knowledge that most human behavior occurs in markets of some kind. Thus economics explains where people live and work, what they need and want, what they earn and buy, and how they make most decisions. Economics studies people in all of their roles as economic actors: in government, private industry, households, and nations. In its way, economics includes aspects of psychology, sociology, philosophy, history, and mathematics. So even though it’s an imperfect science, economics at least tries to explain it all.
This first part of the book will introduce you to key concepts and tools, with an ...