A knowledge of economics is essential to being an informed citizen. In 2009, most of the world suffered from a major recession, with diminished economic growth and high unemployment. Millions of people around the world lost their jobs. Governments from China to the United Kingdom to the United States all struggled to figure out policies to help their economies recover. Understanding what happens in a recession and what the government can and cannot do to help in a recovery is an essential part of being an informed citizen. Economics is also essential in understanding a range of other everyday government decisions at the local and federal levels.Why do governments pay for public schools and roads,but not cell phones? In 2010,the federal government under President Obama moved toward universal health care for U.S.citizens.How do you understand the debate of whether this is or is not a good idea? In some states,scalping tickets to a ball game is illegal.Is this a good policy or not? Some governments control the prices that firms can charge for some goods,especially essentials like milk and bread.Is this a good idea? Every day,across the globe,people engage in political decision making around questions like these,questions that depend on an understanding of economics.
A knowledge of economics is essential to being an informed citizen. In 2009, most of the world suffered from a major recession, with diminished economic growth and high unemployment. Millions of people around the world lost their jobs. Governments from China to the United Kingdom to the United States all struggled to figure out policies to help their economies recover. Understanding what happens in a recession and what the government can and cannot do to help in a recovery is an essential part of being an informed citizen. Economics is also essential in understanding a range of other everyday government decisions at the local and federal levels.Why do governments pay for public schools and roads,but not cell phones? In 2010,the federal government under President Obama moved toward universal health care for U.S.citizens.How do you understand the debate of whether this is or is not a good idea? In some states,scalping tickets to a ball game is illegal.Is this a good policy or not? Some governments control the prices that firms can charge for some goods,especially essentials like milk and bread.Is this a good idea? Every day,across the globe,people engage in political decision making around questions like these,questions that depend on an understanding of economics.
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