Under the lens of economics as the study of human decision making, Joseph Paris puts forth that the economist’s toolkit is underused in day-to-day life. He focuses on the economic principle of opportunity cost: the “cost of not being able to choose to do something else”. For instance, when considering pursuing attending graduate school, outside of a standard cost-benefit analysis, the opportunity cost would be missing out on the salaries you could’ve made by working instead.
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Education
Overcoming Bias
Kai Cheng’s professor had a brilliant scheme. In his first lecture, he promised that each lecture would feature a “Lie of the Day”. But why? It made his students more attentive and analytical, poring over every detail of his lecture and making sense of why things were true. It was such a powerful teaching method that his students digested his most technical lectures quite easily because they tried so hard to catch his lie. The kicker? There was no lie in that first lecture; he had lied about that too! Read full article here
Merv
August 17, 2022
