Series: Principles of Economics and Software Development

The series began with an introduction of the ten principles of economics as presented by N. Gregory Mankiw of Harvard University, which are:

1. People face tradeoffs
2. The cost of something is what you give up to get it
3. Rational people think at the margin
• Part 1 – your salary
• Part 2 – your team
4. People respond to incentives
5. Trade can make everyone better off
6. Markets are usually a good way to organize economic activity
7. Governments can sometimes improve market outcomes
8. A country’s standard of living depends on its ability to produce goods and services
9. Prices rise when the government prints too much money
10. Society faces a short-run tradeoff between inflation and unemployment