Greg Mankiw’s NYT op-ed offers some excellent advice for new college students. This is especially good advice for elected officials — I favor a qualifier exam for all candidates for Congress. Here’s Greg’s topics, plus two great quotes he referenced:
Learn some economics
Learn some statistics
Learn some finance
Learn some psychology
Ignore advice as you see fit
(…) The great economist Alfred Marshall called economics “the study of mankind in the ordinary business of life.”
(…) As the economist Joan Robinson once noted, one purpose of studying economics is to avoid being fooled by economists.