LT Approach: Focus on What Matters Most

The LT approach emphasizes mastering core economic concepts rather than exposing students to a wide range of theories and techniques they are unlikely to use. By concentrating on essential principles, LT instruction ensures that students can proficiently apply economic reasoning in real-world contexts.

The LT approach prioritizes core concepts over extensive mathematical techniques, enhancing understanding without sacrificing rigor. This focus mirrors how sophisticated economic analysis is communicated in The Economist, The Wall Street Journal, and The New York Times. These publications rarely use equations or abstract graphs, yet they effectively convey complex economic ideas to a broad audience. Similarly, LT instruction develops students’ ability to think like economists—not by memorizing formulas, but by applying economic reasoning to analyze the world around them.

This involves:

• Building models using assumptions to approximate controlled experiments;
• Applying fundamental optimizing principles, such as “choose only when additional benefits exceed additional opportunity costs;” and,
• Using core models for analysis – supply and demand,  production possibilities, aggregate supply and aggregate demand – alongside real-world data.

Prioritization enables simplicity—keeping content lean and focused. This is not about dumbing down; it’s about choosing wisely. Some concepts are more critical than others, and repeated application of key principles strengthens retention, ensuring that students can use economic reasoning throughout their lives.