Contents
Publisher’s Note
Introduction
About the Authors
PrefaceEconomics as a Common Thread
Supplements
Acknowledgements
Glossary
PART 1 The Power of Economics
CHAPTER 1 Economics and Life 3
Making an Impact with Small Loans 3
The Basic Insights of Economics 4
Scarcity 5
Opportunity Cost and Marginal Decision Making 6
Incentives 9
Efficiency 11
An Economist’s Problem-Solving Toolbox 13
Correlation and Causation 13
Models 15
Positive and Normative Analysis 18
Conclusion 20
CHAPTER 2 Specialization and Excha