The importance of Economics and the best way to teach it

A recent episode of the RN program The Economists talked about why Economics is important and the best way to teach it.

I was interested in Justin Wolfers' four principles of Economics. In particular, his explanation of the principle of interdependence – reflected the effect that my knowledge and understanding of Economics affects my everyday life.

Click here to have a listen to Justin with Gigi Foster.

After hearing about it in the program, I found a video showing a MONIAC operating at the Reserve Bank of New Zealand Museum and Education Centre. It may be a great hook for Year 11 and 12 macroeconomics – or just exciting for economics teachers like us?

Click here to watch the MONIAC demonstration.

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