Topic Thirteen

TOPIC 13: The Economic Way of Thinking

Required Readings:

  • Robert L. Sexton, Exploring Macroeconomics, Chapters 1-3
  • Robert Hahn and Scott Wallsten, “Whose Life is Worth More? (and Why is It Horrible to Ask?)” (See Readings)
  • Milton C. Weinstein, “We Ration Healthcare. Why Not Do it Rationally?” (See Readings)
  • The Wall Street Journal (or another national newspaper)

Additional Readings:

  • Blinder, Hard Heads & Soft Hearts, Introduction and Chapter 1 (on reserve in Simpson Library)
  • McKenzie and Tullock, The Best of the New World of Economics, Chapter 1, “Economic Thinking” (on reserve)
  • Maurice Levi, Thinking Economically, Chapters 1 and 2 (on reserve)
  • Stephen Rhoads, An Economist’s View of the World, Chapters 1-3 (on reserve)


  • Describe the economic way of thinking.
  • List and explain the characteristics of the economic way of thinking.

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