Sunday, March 22, 2009

Teaching economics during rough times

Mankiw offered an excellent explantion regarding economic teaching of relevant economic crisis prevailing in our daily life.

"In other words, whether you want to help an ailing grandmother or an ailing economy, you need start by mastering some first principles, which do not change in response to current events."

There are indeed principles in economics (and in life too) that do not change over time:
Principles of Economics, Rap Version

See his reply at:
Teaching amidst a Crisis

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