Today the summer vacation or in my case summer unemployment begins. I searched for the next teaching position found none, so I started watching CSPAN. There was Greenspan testifying in front of Joint Economic Committee of congress. He was arguing his case for Pay-Go and Free-Trade. He used the concept of opportunity cost. He made the basic arguments of scarcity and prioritizing. He argued that we could implement protectionism but there is a cost to protection. He told the story of how he did not like competition but his competitor ultimately made him into what he is today.
This made me wonder how many of my students (if watching most likely not) would make the connection between my obsession with opportunity cost and what Greenspan was saying.
I am asking this question because students tend to focus on specifics rather on general concepts. They want chapters, pages, and test questions. Basically they are focused on getting a grade.
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