Building on the sketchy outline of the simple demand and supply model from Lecture 1’s class – and the experience of the trading pit – we follow Prof Allen in Ch1 by examining how economics is a particular way of thinking – a particular scientific way of thinking. Remember, this is just the beginning, a little framework to work with. PS – we ran out of time at the end of Lecture 1, but this segment was supposed to be the final part of that lecture. Of course we moved it into Lecture 2…but it really should be (and here is) labelled as part of lecture 1.
Next up we’ll look at some practical ideas about how to be a good critical thinker, reasoner , writer, listener…..whether or not you are using – economic models – to guide your reasoning.