Economists Bruhh

I have to look back at my notes because it's hard to remember what I just read considering it's almost 2 in the morning.

Chapter 2 talked about who an economist is. He's kind of like a scientist (when he thinks positive statements) and he's also like a policy adviser (when he thinks normative statements). They have their own version of the scientific method with which they observe, make theories, and then continue to observe. They also like to think of things in a simpler way so that it's much easier to later understand the complexity of the world in which we live.

The chapter also explains the tools that economists use to.. well be economists. They make models like the circular-flow diagram which is a diagram that shows how money moves throughout the market of households and firms. Have to study that one because it's a bit too much. But nothing compared to the production possibilities frontier. It's like a graph with a curve. It was a bit more confusing given that I'm a visual learner. Ironic because there was a picture but I do need further explanation on that. It did mention though that the opportunity cost equals the slope of the ppf. Even though I'm not quite sure what that means it seems pretty cool that it all correlates.

Micro and Macro were pretty self explanatory thanks to Mr. Waller.

The rest of the chapter talked about how economists can see things in different perspectives. Back to that whole scientist and policy adviser thing. Some could view what's wrong with something while others think about how they can fix it. The chapter continues to talk about how economists never give straightforward answers, have different values, scientific judgment, and that they may disagree based off of the variety of tradeoffs. But it ends with the happy ending that most economists actually end up agreeing with each other.

Difficulty:1 (Only because of the models and... considering that continuing chapters will be more difficult I'm going to save the 3).