Home » Blog » Economic Reasoning Propositions

Economic Reasoning Propositions

//////////////////////

We often get the question, “what will we learn at Economics for Leaders?”

At Economics for Leaders, we teach Economics in the context of 5 Economic Reasoning Propositions, or “ERPs.” Morning discussions, activities, and interactive sessions introduce participants to the economic way of thinking.

ECONOMIC REASONING PROPOSITION #1:

People choose, and individual choices are the source of social outcomes.

ECONOMIC REASONING PROPOSITION #2:

Choices impose costs; people receive benefits and incur costs when they make decisions.

ECONOMIC REASONING PROPOSITION #3:

People respond to incentives in predictable ways.

ECONOMIC REASONING PROPOSITION #4:

Institutions are the “rules of the game” that influence choices.

ECONOMIC REASONING PROPOSITION #5:

Understanding based on knowledge and evidence imparts value to opinions.

You can access the full PDF HERE

 

These ERPs are reinforced throughout the week by our outstanding instructors who foster critical thinking of these difficult social problems and spark discussions by examining current  national and international issues.  In addition, hands-on simulations are used extensively to demonstrate reliability of these concepts.

Other topics taught throughout the week include

Economic Growth and Scarcity

Opportunity Cost

Open Markets

Markets in Action

Labor Markets

Incentives, Innovation and the Role of Institutions

Property Rights

Government

Money & Inflation

International Markets

80
post

Recent Posts

//////////////////////

Recent Alumni Spotlight – Sophia Sweeney

Sophia Sweeney is a 2019 alumna attending Economic History for Leaders at the University of California, Berkeley. History is one of Sophia’s favorite things and she especially loves travelling to immerse herself in a culture and learn of its history. Last…

Job Announcement: Join the FTE Team

Manager, Student Admissions and Program Operations The Foundation for Teaching Economics (FTE) is seeking a new Manager, Student Admissions and Program Operations to support its rapidly growing pre-college economics programs.  Over the past three years, FTE…

Site Spotlight – Cornell University

We are almost ready to announce our new 2020 sites! One place we will be returning is beautiful Ithaca, NY at Cornell University. Cornell is a private Ivy League university with a long tradition of building leaders and creating lasting impact on the state of…