1-Whats Economics.pptxVIP

Chapter one: What is Economics?“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else.” John Maynard Keynes, The General Theory of Employment, Interest and Money. 1936;Society’s Two-Part Problem;Society’s Two-Part Problem Continued;Society’s Two-Part Problem Continued;Our Fundamental Problem!;3 Questions for Society;Economic Systems;ECONOMICS AS A SOCIAL SCIENCE;When the government prints too much money, it causes inflation (a rise in the general price o