Richard R. Nelson, The Simple Economics of Basic Scientific Research, Journal of Political Economy, Vol. 67, No. 3 (Jun., 1959), pp. 297-306 Free online reading for over 10 million articles Save and ...

This course introduces students to fundamental concepts of economics to explain how economic actors manage resources under conditions of scarcity. Both microeconomic (businesses and consumers) and ...

“That’s just inconsistent with basic economics,” he said. He also said the White House should not see foreign manufacturing as a barrier to domestic economic growth.

It’s basic economics, and it should be a political no-brainer. Will Coggin, Managing Director of the Center for Consumer Freedom, Arlington, Va.

To be sure, we did learn some basic concepts of economics – scarcity and choice – but for young minds some of this was lost in translation. Having decided on a career in economics, ...