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Think Like An Economist

S E52: Useful Economics in Everyday Life

Dec 7, 2021
18:33

Podcast summary created with Snipd AI

Quick takeaways

  • Economics provides a set of principles that can be used to make better decisions in various aspects of life, not just related to money.
  • Teaching economics should focus on providing students with the tools to make better decisions in their lives, rather than solely preparing them for a career as professional economists.

Deep dives

The Importance of Applying Economics in Everyday Life

Economics is not just about money; it is about how people make decisions in all aspects of life. Economics provides a set of principles that can be used to make better decisions in various situations, such as whether to take on more debt as a student or when to start saving for retirement. The podcast emphasizes the underappreciated beauty of economics, highlighting its relevance and usefulness in everyday life.

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