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S E19: A New Treasury Secretary - Who is Janet Yellen and what will she do?
Think Like An Economist
The Importance of Thinking Like an Economist
Yellen describes economics as a set of tools. This is actually a fairly modern idea. Economists commonly focus on markets and see outcomes as reflecting both demand and supply. Economics has some simple tools to address questions like these that start from the motivations of the many stakeholders involved.
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