Previously I had thought about the fact that each class needs a theme that one comes back to over and over again.
For Micro the "theme" is cost benefit analysis and welfare maximization. It all comes down to Marginal cost Marginal benefit.
For Macro I was not sure what could be a theme.
As I was teaching the Social Security debate and clarifying the difference between financial problems and the real demographic problems, it hit me!
The idea (theme) that I was looking for is: "Keep it Real"
Both economist and students tend to forget the ultimate scarcity. We use technical vocabulary to describe it: Long Run Aggregate Supply and the Production Possibility Frontier.
believe when we talk about Real output we should stress the reality of the Real. We should stress that Nominal numbers are just that Nominal. We should talk actual standards of living (real) in a way that fits their (students) experiences.
If and when the discussion turns to distribution of income it should be connected to Real per capita output and distribution of real output!
I think this will answer the question most asked by the average student: "Who Gives a Da..?"
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