Discover four key economic concepts: scarcity, supply and demand, costs and benefits, and incentives. Learn how they affect consumer choices and financial decisions.

Economic man represents a rational actor, aiming to maximize utility and satisfaction. Discover his role and the impact the concept has in economic theories and models.

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

Paul Solman: More excerpts today from an interview I did with economist Paul Samuelson nearly a decade ago. Today, his thoughts on whether economics is a science and where math fits in the discipline.

One basic misunderstanding is to fail to distinguish between a private firm raising its wages paid, and a law compelling all and sundry to do the same. Unhappily ...