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Unfortunately, the way economics is typically taught today is extremely confusing for many students. The frustration that results even in introductory level classes is often palpable. If that describes your experience, don't beat yourself up. The primary problem is not with your understanding: the problem is that academic economics is completely divorced from common sense! Let's reason together: Economics is based on several core assumptions that are in place so that the math works out smoothly. A. People are always rational (okay...) B. People always maximize utility (what's utility?... well, money I guess) C. People are essentially the same (whatever...) Please note that the real wold, if anything, tells us that the exact opposite of these assumptions is true. No wonder it is difficult to get an understanding of economics: it's modeling a fictional world! The good news is that if we get underneath all the formal jargon of the subject, there are... read more

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