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Chapter 8 Eee! Economics, Economic Systems, and Economic Policy

PLEASE NOTE: This book is currently in draft form; material is not final.

In this chapter, you will learn about:

  • Different economic systems
  • Supply and demand, and markets
  • GDP: Measuring the economy
  • Government and the economy
  • Recessions and depressions

It’s difficult to separate economics from politics, because the two are so interconnected. Most elections turn out to be referenda on the state of the economy (if the economy is strong, incumbents do well. If it’s not, they don’t). Political choices made by governments can have a big impact on the economy as well. Note that in this chapter, we again talk about different economic and political systems, because it doesn’t make sense to talk about one without talking about the other.