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Understanding Economics
Understanding Economics: A Contemporary Perspective, 2/e
Mark Lovewell, Ryerson Polytechnic University
The Economic Problem

Internet Application Questions



1

Compare how two well-known economic thinkers — Paul Krugman and Robert Heilbroner — view the methods used in modern economics. Which thinker's view do you think is more persuasive. Why?
 
2

Economists assume that individuals are rational, self-interested, and knowledgeable. Commentators such as Steve Kangas, in his article The Myth of Homo Economicus, criticize each of these assumptions. After reading this article, give a possible exception to each of these three assumptions. Do you agree with Kangas that these exceptions make the assumptions invalid?
 




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