Economics as a Beautiful Subject: Its Concepts & Principles Explained for Everyone (DRAFT)…. by Subroto Roy

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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