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What are the most important economic concepts ?

 
 
VIVIDE
 
Reply Fri 2 Jan, 2009 11:19 am
What are the most important concepts that could be learned in an economic theory course and how can they be applied to our life? What differences can these concepts or tools make in everyday life ?
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Type: Question • Score: 5 • Views: 2,972 • Replies: 8
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rosborne979
 
  1  
Reply Fri 2 Jan, 2009 11:35 am
@VIVIDE,
Cash is King
0 Replies
 
Chumly
 
  1  
Reply Fri 2 Jan, 2009 12:19 pm
@VIVIDE,
Two of my faves:

Random Walk Hypothesis

Efficient Market Hypothesis
0 Replies
 
Fountofwisdom
 
  0  
Reply Sat 3 Jan, 2009 02:14 am
Never give a sucker an even break
0 Replies
 
johnjordan576
 
  0  
Reply Tue 13 Nov, 2012 10:32 pm
@VIVIDE,
economy is more important wide scale . proper investment is important for good economic growth.
0 Replies
 
MontereyJack
 
  1  
Reply Tue 13 Nov, 2012 10:48 pm
just remember, supply-side economics is really voodoo economics. Daddy Bush was right.
0 Replies
 
cicerone imposter
 
  1  
Reply Tue 13 Nov, 2012 11:17 pm
The concept of supply and demand. It's the primary basis of all economies.
0 Replies
 
Goldecon
 
  1  
Reply Tue 19 Feb, 2013 05:06 pm
@VIVIDE,
Try not to look at a specific course, tool, or concept for most relevance. Rather, the way economics teaches one to look at any given situation is the real value of the discipline. Example of this would be something like studying externalities or a concept like the " Paradox of Thrift". These types of things embody how one should look deeper into things that would have a face value, but through further examination, have a more complex understanding to them. It is the economic "goggles" so to speak that are the value.
cicerone imposter
 
  1  
Reply Tue 19 Feb, 2013 05:25 pm
@Goldecon,
Except, economics is an art, and not science. There is no "tool" that can predict future economic activities or results.

Also, there is no way to predict how the stock market will act in the future, because there is no way to predict the world's economic flux.
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