By Duncan Hobbs Economics 101 is the name many colleges and universities use for their introductory undergraduate economics course. It’s also shorthand for the ideas at the heart of classical economics as they have been taught for generations. Some economists think it needs an overhaul. Michael R. Strain and Noah Smith, both professional economists and Bloomberg Opinion columnists, debated its strengths and weaknesses.
Michael R. Strain: Econ 101 kicked open a door in my mind that has never closed. In my view, it is filled with intellectual treasures that have great predictive power, are supported by data and are often right. I use that …read more
Source:: Marc Thiessen