Principles of economics, translated
March 16, 2007 – 9:43 am
A hilarious clip about basic principles of economics shown by my lecturer.
And here's a proper paper version:
http://www.improb.com/airchives/paperair/volume9/v9i2/mankiw.html
I still believe economics is a subject that you should learn from life, not class: it holds just too many things constant but in real life, people are in fact influenced by those 'many things'.
How economics explain this? "People are influenced by incentives."
