Economics as a Beautiful Subject: Its Concepts & Principles Explained for Everyone….
by Subroto Roy
Draft 12 July 2019, 11 October 2019
0. Economics is a beautiful science that is important to mankind’s wellbeing and progress. The purpose of this work is to describe and explain its main concepts and principles to any person who is literate and numerate, that is, to just about everyone or anyone who wants to know…
0.1. Economics is about… people… homo sapiens (tho yes there’s a general theory from biology yet to be written)…
and those people’s
budgets
needs
decisions
learning
productive capacity.
0.2. It’s also about
prices
technology
government finance
domestic trade
money & banking
world trade & payments
0.3. Time does not stand still, so prices have to include interest rates and cross interest rates
needs and decisions over time, ie savings
productive capacity and decisions over time, ie investment
there are consumption goods, for the present…
and capital goods taking us and being taken by us into the future…
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