Monday, December 12, 2005

Simple Rules

Over at The Dismal Educators blog, the November 28 post lists Ten Rules of Economic Thinking. It's useful and could easily be posted in your classroom.

Another, similar item is the "Handy Dandy Guide" to economic thinking. It is used in many of the materials produced by the National Council on Economic Education, particularly their Capstone Course. The Handy Dandy Guide goes something like this.

1. People choose.

2. People's choices involve costs.

3. People respond to incentives in predictable ways.

4. People create economic systems which influence individual choices and incentives.

5. People gain when they trade voluntarily.

6. People's choices have consequences which lie in the future.

These, too, could be posted and referred to as you discuss economic issues and topics.

I look forward to hearing about similar lists or your comments about these lists.

Posted by TSchilling at December 12, 2005 4:33 PM

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