This leads us to the topic of this chapter, an introduction to the world of making decisions, processing information,
10 1 • Welcome to Economics!

and understanding behavior in markets —the world of economics. Each chapter in this book will start with a

discussion about current (or sometimes past) events and revisit it at chapter’s end—to “bring home” the concepts in

play.

What is economics and why should you spend your time learning it? After all, there are other disciplines you

could be studying, and other ways you could be spending your time. As the Bring it Home feature just

mentioned, making choices is at the heart of what economists study, and your decision to take this course is as

much as economic decision as anything else.

Economics is probably not what you think. It is not primarily about money or finance. It is not primarily about

business. It is not mathematics. What is it then? It is both a subject area and a way of viewing the world.
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