What is Economics? Textbook Definition The study of how “people” make choices. A relatively new Social Science Adam Smith and John Locke Karl Marx and.

What is Economics? Textbook

Definition

• The study of how “people” make choices.

A relatively

new Social

Science

• Adam Smith and John Locke

• Karl Marx and Frederich Engels

• John Maynard Keynes

A different way to look at current issues

Return

A Different Way of Thinking Why are divorce rates at an all time high? What is the affect of weddings on the economy? Politicians – “We can increase spending on

programs, and cut your taxes.” Why does Johnny Depp make $20 million to

work 3 months? Why do the Republicans want to give tax cuts

to the rich? Why do we spend money in foreign countries

when we have people here that need help? Freakonomics Examples