I recently took Macroeconomics and this first chapter in the "Microeconomics" text is identical, only the books cover has changed from Macro to Micro. I had to flip back to the cover a couple times to see that I had received the right book, Obviously there are similarities and differences between macro and micro economics but it is the "ten principles" that are specific to economics itself.
After reading the first chapter I thought to my self how something seemingly so straight forward in principle could be such a challenge. Economics is obviously a challenge or we all would be operating flawlessly but the human factor is really what drives it all and that is why it so hard to figure out.
Additionally, the principle that a countries standard of living depends on its ability to produce goods and services really struck me this time around. I don't know if I just missed that before but it was really evident this time around. I suspect it is no different that an individual able to work harder (produce more) and manage his/her resources better than another doing better financially and live at a better standard. So why aren't the principles introduced at a level in education that one leans how to operate within the system so they can learn how to navigate it better as they become a bigger part of it. Why do so many rely on the policy makers to figure it out for us?
I would like to determine how if I can start looking at these principles more directly in mine and my families decision making changing how we interact with in the economy. I thought this my last read as well but was soon so overwhelmed with everything that I felt inadequate in my understanding of my roll as a cog in the economic machine. Although I do think about it more.
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