Lectures on Microeconomics: The Big Questions Approach

Abstract

You are fortunate to be holding this book, or any book. You are alive. What are the chances? If the world were poorer or less populous today, you might not have been born. Or, if born elsewhere or in an earlier epoch, you might have been already dead by violence, disease, or starvation. But here you are, in this relatively prosperous time and place. Something must have gone right! But what? This book is about the few basic principles that enable individuals to do better collectively than they would have done individually. These principles fall under the rubric of economics. You may object that you do not feel lucky, or that the misery of your fellow travelers could have been alleviated if the society had been organized more cleverly. This book is about that, too. Each glimpse of understanding that you gain, you will be encouraged to channel towards a quest for a better design of policy or institutions, at home, at work, and beyond. The book’s content and organization are based on the premise that you will master economic concepts and techniques best by attempting to tackle the fundamental economic and philosophical questions that you care about most.