econlife on ‘Thinking Economically’

Much more than money, economics is about tradeoffs. Thinking economically involves cost and benefit, marginal analysis and seeing that there is no free lunch. Econlife tries to convey the perspective that is the foundation of economics that helps people make decisions personally, professionally and as voters.

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    It’s All About Extras

    Apr 8, 10 • 107 Views • Businesses, Thinking EconomicallyNo Comments

    Whenever you consider doing something extra, you are thinking at the margin. When airlines decided to charge travelers for more than one bag, they were thinking at the margin. Still thinking at the margin, they realized they could generate considerable extra...

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    Handy Quotations

    Apr 6, 10 • 117 Views • Economic Thinkers, Thinking EconomicallyNo Comments

    On Economics: Economics is “the study of mankind in the ordinary business of life.”   Alfred Marshall, 1842-1924 (U.K. economist). “The curious task of economics is to demonstrate to men how little they really know about what...

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    Economics and Literature

    Apr 5, 10 • 107 Views • Thinking EconomicallyNo Comments

    Thinking of how Economics is Everywhere, I am reading The Literary Book of Economics in which economist Michael Watts displays the connection between literature and major economic ideas.   Discussing 78 examples, from fiction, nonfiction, and...

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    The Ten Best Money Movies

    Apr 1, 10 • 99 Views • Entertainment, Financial Markets, Thinking EconomicallyNo Comments

    From a Forbes.com, 2006 reader survey, the 10 best money movies: Wall Street (1987; 35% of votes) Trading Places (1983; 10% of votes) The Sting (1973; 6% of votes) Ocean’s Eleven (1960; 5% of votes) Boiler Room (2000; 5% of votes) It’s a Mad Mad...

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    The Tip of the Iceberg?

    Mar 26, 10 • 97 Views • Government, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    Growth or a safety net? Thinking at the margin, an increasing number of European policy makers are debating a change. The result is a classic economic dilemma. Unemployment and medical insurance, pensions, licensing protections, and job guarantees can...