lack of perfect information, we still make hundreds of decisions a day.

Streams, sponsors, and social media are altering the process by which we make choices, how we spend our time,

which movies we see, which products we buy, and more. Whether they read the reviews or just check the ratings, it's

unlikely for Americans to make many significant decisions without these information streams.

As you will see in this course, what happens in economics is affected by how well and how fast information

disseminates through a society, such as how quickly information travels through Facebook. “Economists love

nothing better than when deep and liquid markets operate under conditions of perfect information,” says Jessica

Irvine, National Economics Editor for News Corp Australia.

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