UE: ECO 110HA: Economics for Life: Home

Rule 1: Think Before you Act

If you think about it and weigh your choices, you can make better decisions.

Rule 2: Understand Costs & Benefits

Every decision has costs and benefits. Want a newer car? What are the benefits and costs associated with buying, and then maintaining, the car? Are there any "hidden" costs? Are you willing to be patient, and take time to haggle over price and options? Or do you feel you need the car today, and there isn't time for that? How will that affect the kind of deal you can get?

Rule 3: Understand "Scarcity" 

Some careers have fewer people interested in working in that field. This can create limited supply and higher demand. Currently, those fields include medicine, dental, education, flight controllers, police and fire, and the military to name a few (2025). What skills or experience do you have (or that you can obtain) that other people interested in the same career fields do not have? What types of work do you enjoy? What is more important to you: more free time and better work-life balance, or more money and possibly higher stress?