EconPathways

Before we start listing any college-level equations or mess up your brain completely with alien equations and… This is definitely exaggerated, but the method of Lagrange Multipliers is truly not easy math and requires some knowledge from multivariable calculus. It’s a big, messy topic, and you can probably tell by the fact that I had […]

The major attraction of economics for me lies in its ability to rigorously and abstractly model and predict human behavior into math equations, accounting for the diverse preferences and motivations that drive decision-making. To elaborate on this concept of “diverse preferences,” economics makes the assumption that people always want to improve their own circumstances when

1. The Dawn of Economic The well-known novelist Robert Louis Stevenson famously observed, “To be idle requires a strong sense of identity,” emphasizing the need for a distinct identity in order for anything to really exist and flourish. This idea encompasses all facets of life, including economics, which is becoming a more important discipline in