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While many associate economics with money, economics has powerful insights that go far beyond money.  Economics has teachings about the nature of time, marginal value, utility, and many other concepts that we will discuss throughout this course.  One concept in particular, the "Coase theorem" (developed in 1960), is an economic insight that is powerful far beyond issues of money.

While many associate economics with money, economics has powerful insights that go far beyond money.  Economics has teachings about the nature of time, marginal value, utility, and many other concepts that we will discuss throughout this course.  One concept in particular, the "Coase theorem" (developed in 1960), is an economic insight that is powerful far beyond issues of money.

Economics will help you with business, but it can help you with far more also.  Learn it for all its power and usefulness.

Economics will help you with your own purchasing decisions, planning for savings, choosing a career, and making business decisions.  But it can help you with far more also, such as using your talents to their fullest potential, minimizing wastes of your time, not allowing yourself to become addicted to bad habits.

 

 

*"carpe diem," which means "seize the day" and not waste a good opportunity.  The present time is worth far more than time in the future, when it is unknown what will be possible or even if the world will still exist as it does today.  The same principle of "carpe diem" can be seen in the Parable of the Talents (Mt 25:14-30) and the Parable of the Fig Tree (Luke 13:6-9) (the master gives the fig tree one more year to bear fruit, or else he'll chop it down)

==More Definitions==

==More Definitions==