Class summary 9/9

Definition of economics:

                                               It is the study of emergence of order and wealth education and the consequences of the choices made as part of the extensions order of human cooperation.

Economics: Micro & Macro

Each individual analyze choices.

3 reasons to study economy: 1. to have a sense of wonder about the world
                                                        2. to understand important economic terms and data.
                                                        3. to understand certain facts

Incentive ≠ Results