Why Study Economics?

The most important reason for studying economics is to acquire an alternative way of thinking – particularly about social policies. People who lack an understanding of basic economic principles are easily misled by partial, partisan analyses. Consequently, political and business leaders frequently implement policies that are detrimental to society. You should understand basic economic ideas to avoid being deceived in social policy discussions.

The acquisition of economic perspectives has broader and more fundamental benefits, however. Economics is required at many colleges and universities because the faculties, who set the curriculum, think it is important for people to understand economic principles in order to be considered educated. Economists look at the world differently than most other people. This book is designed to provide students with an introduction to these alternative perspectives.