A.INTRODUCTION

As you begin your studies, you are probably wondering. Why study economics?In fact, people do it for a number of reasons .Many study economics because they hope to make mOlley.Some people worry that they willbe considered illiterate if they canriot understand the laws of supply and demand .Others are interested in learning about how computers and the information revolution arc: shaping our society or why inequality in the distribution of income in the United States has risen so sharply in recent years.

For Whom the Bell Tolls

All these reasons, and many more, make good sense. Still, as we have come to realize, there is one overriding reason for   learning the basic lessons of economics: All your life-from cradle to grave and beyond-you will run up against the brutal truths of economics.As a voter, you will make decisions on issues that cannot be understood until you have mastered the rudiments of this subject.Without a study of economics, you cannot be fully informed about international trade, the economic impact of the Internet, .or the trade-off between inflation and unemployment.Choosing your life’s occupation is the most important economic decision you will make. Your future ·depends not only on your own abili ties but also on how economic forces beyond your control affect your wages.Also, your knowledge of economics may help YOll invest the nest egg you save from your earnings. Of course, studying economics can-‘ not make YOll ~ genius. Bm without economics. the dice of life are loaded against vou.I’·There is no need to belabor the point. We hope you will find that, in addition to being useful,economics is a fascinating field in its own right. Generations of students, often to their surprise, have discovered how stimulating economics can be.

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