The question that motivates this book, is “What do we really want our students to remember of what we teach them in an introductory economics class?” The vast, vast majority of students in introductory economics never take another economics course. Economics for Life is designed to help those students learn what they need to know to be economically literate citizens. If we can teach students the fundamentals of thinking like an economist, they will be equipped to make smarter choices in their lives as consumers, as businesspeople, and as citizens evaluating policies proposed by politicians.

Three Keys to Smart ChoicesFor microeconomics, the essentials are grounded in the Three Keys to Smart Choices, which form the core of Microeconomics for Life: Smart Choices for You.

Key 1: Choose only when additional benefits are greater than additional opportunity costs.

Key 2: Count only additional benefits and additional opportunity costs.

Key 3: Be sure to count all additional benefits and costs, including implicit costs and externalities.

We can teach all topics in micro with those three keys.

To get a better sense of how the microeconomics chapters are organized, have a look at the topics in the chapters: Microeconomics: Smart Choices for You – Detailed Table of Contents.

To see all of the graphs (including narrated dynamic graphs), please see: Microeconomics: Graphs, Tables and Illustrations.