Lesson 10: The National Economy, Part 1 | Intercollegiate Studies Institute

Lesson 10 Lesson 10: The National Economy, Part 1

Presented by: Dr. Tawni Ferrarini
Northern Michigan University

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Aggregate Economic Analysis I, Parts 1 & 3

As people we love to make connections. In a globalized economy, making those connections is more important than ever. The interconnectedness of peoples, resources, and functions in an economy is a source of its abundance. But all this interconnectedness may make it harder to see the full range of effects of a given economic policy. In this lesson you will learn to recognize what is seen and unseen in economies, and why connections are king.

Lesson Ten Quiz

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It follows that the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil.

Frédéric Bastiat