The basic principles of economics are not only worthwhile reading for students, but for the wider public, and perhaps especially, for those involved in policy. Greg Mankiw, the author of best-selling textbooks for Macroeconomics and Principles of Economics joins EconoFact Chats to highlight how a wider understanding of economic principles such as trade-offs, opportunity costs, how people respond to incentives, the benefits of trade, and others can lead to better policy outcomes. Greg is the Robert M. Beren Professor of Economics at Harvard University.  A leading researcher in macroeconomics, he has held numerous high-level policy positions, most notably serving as the Chair of the Council of Economic Advisors in the George W. Bush administration.