3. What is Economics? Textbook Definition The study of how “people” make choices. A relatively new Social Science Adam Smith and John Locke Karl Marx and Frederich Engels John Maynard Keynes A different way to look at current issues

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5. A Different Way of Thinking  Why are divorce rates at an all time high?  What is the affect of weddings on the economy?  Politicians – “We can increase spending on programs, and cut your taxes.”  Why does Johnny Depp make $20 million to work 3 months?  Why do the Republicans want to give tax cuts to the rich?  Why do we spend money in foreign countries when we have people here that need help?  Freakonomics Examples