References: What is Economics?¶
-
Economics - Wikipedia - Comprehensive overview of economics as a social science, covering its history, major branches, and core principles including scarcity and choice.
-
Scarcity - Wikipedia - Explains the fundamental economic problem of limited resources versus unlimited wants, the starting point for all economic reasoning.
-
Opportunity Cost - Wikipedia - Covers the concept of trade-offs and the true cost of any decision, measured by the value of the next best alternative foregone.
-
Economics (7th Edition) - N. Gregory Mankiw - Cengage Learning - The gold standard introductory textbook with excellent coverage of the ten principles of economics, including scarcity and marginal analysis.
-
The Economy - The CORE Team - Oxford University Press - A free, modern introductory economics textbook that presents economic systems and decision-making with real-world data and interactive tools.
-
Opportunity Cost - Concise Encyclopedia of Economics - Clear explanation of opportunity cost with practical examples showing how economists think about the true cost of choices.
-
Marginalism - Concise Encyclopedia of Economics - Explains marginal analysis and why economists focus on the additional cost or benefit of one more unit rather than totals.
-
U.S. GDP Data - Federal Reserve Economic Data (FRED) - Real-time data on U.S. gross domestic product, useful for understanding how economists measure the size of an economy.
-
World Development Indicators - World Bank - Comprehensive collection of development data covering economic output, trade, and poverty across countries, illustrating how economists compare economic systems globally.
-
U.S. Census Bureau Economic Indicators - U.S. Census Bureau - Government source for key economic data that illustrates how economists gather and use data to understand economic activity.