Why do we study Economics?

Economics is the science that studies how humans obtain or acquire goods and services that are scarce or in a limited quantity.  It is important that we discuss basic economic principles in this course, because it deals with the crux of the course, which is to answer “Why are we poor?”.  Follow this link to the article published by The Federal Reserve Bank of San Francisco.  Comment on it and reply to AT LEAST TWO of your classmates’ comments.

http://www.frbsf.org/education/activities/drecon/2000/0007.html

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3 responses to “Why do we study Economics?

  1. Im sure you students will really like this way of teaching. You organized this blog really well.

  2. Alejandro Sanchez

    I like how Paul A. Samuelson and William D. Nordhaus describe economics in their text..I share what they say that economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.I asked myself their question:What is the purpose of this army of economists measuring, analyzing, and calculating? The purpose for me is that they use it to analyse economics for other people to get a better living and to improve living conditions for other people as they said.:)

  3. Kency Matute =)

    TRUEE!!! 😀

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