Economics for Leaders. Let’s Learn Some ECON. Don’t try to write down everything I say Lectures will be fast-paced with lots of information and lots of interaction Pay attention and get involved As the week ends, it will come together You can have all of these slides and materials.
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Statements of opinion should initiate the quest for economic understanding, not end it.
Economic Reasoning Principle #5:
Understanding based on knowledge and
evidence imparts value to opinions.
Production Possibilities Frontier (PPF): Graphical representation of the possible goods/services an economy can produce at a given time with the available resources and technology
"What is YOUR solution?“
"There are no solutions," I said. "There are only trade-offs.“
"The people DEMAND solutions!" she shot back angrily.
The people can demand square circles if they want. But that doesn't mean that they will get them.