Economics: The Dismal Science

I have been getting a lot of inquiries for help in Economics lately, and I understand the need for help by newcomers to The Dismal Science. Economics exists in the vague area where math, social science, and fortune telling meet. It is important to keep in mind that there are no right answers, but it is important to learn how to apply the tools and theories.

As you will soon learn from watching CNBC or reading The Economist (which I strongly recommend for those truly interested in the subject), you can give a group of economists the same set of data and get a different interpretation and prognostication from each of them.

Additionally, keep in mind that studies are often done on government data which is constantly revised and isn’t formally accepted as fact until many years after it is released. You want to know the true GDP for 2011? Wait until 2015 and maybe we’ll know for sure!

Best of luck to all ...


Doug S.

MBA with Finance/Commodities Background

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