This lesson provides an introduction and overview of economics. You'll come across a number of basic concepts and terms. The full importance of these might not be apparent until later lessons, but they WILL be important. Like other lessons to come, this one is divided into five units.

• The first unit, Economics, offers up a definition of economics and provides two useful lists -- the three questions of allocation and the seven rules of economics.
• The second unit, Doing Economics, explores the practice of economics, including positive and normative economics, macroeconomics and microeconomics, and six common logical fallacies.
• In the third unit, An Economy, we turn our attention to real world economies that contain a mix of markets and governments.
• We then examine the five basic goals of a mixed economy in the fourth unit, Economic Goals, including the three macro goals of full employment, stability, and growth; and the two micro goals of efficiency and equity.
• The fifth and final unit in this lesson, Economic Policies, considers assorted economic policies that governments use to achieve the five economic goals.

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