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Economics - Macro
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Why study economics?

Why indeed? A good short answer is that you can't get away from it. Almost every issue you encounter involves economics.

	Why do people have to earn a living?
	Why are gasoline prices rising?
	Why do people pollute?
	Why do professional basketball players earn more than truck drivers?

All of these issues involve economics.

But despite the pervasiveness of economic issues, why actually study the subject? After all, everyone is governed by the law of gravity--try jumping off a cliff sometime if you don't think you are--but is it reasonable to assume that we have to study physics?

The difference between the two fields of study is you don't have to know much about physics to know why it's not a good idea to jump off a cliff. However, most people, without some basic economic knowledge, would NOT be able to identify the harmful effects of

	raising the minimum wage,
	restricting imports on foreign steel,
	setting price limits on prescription drugs,
	or increasing personal income taxes.

A healthy economy that runs well depends on enough people grasping some simple truths about how it functions. If people don't understand the basic laws of economics, we create for ourselves a real mess.

It's unfortunate then, that most people do NOT understand how the economy works. We are a nation that's economically illiterate.

It is my hope that after this class you will have acquired the basic tools to properly analyze economic issues. This class will NOT tell you 'what to think' but 'how to think' in order to critically analyze economic issues. That makes this a valuable class. After all, you're going to be a part of the economy for the rest of your life. The more you understand it, the better prepared you'll be.