Decline in Economics: facts, problems, solutions

Analysis of statistical data on enrolments in Economics across the world for the last 20 years reveals the fact that proportion of students studying Economics or undertaking degree in Economics is declining. This book is an attempt not only to discover the root cause of this disease but also to draw attention of economic educators¿ community to this alarming trend. Investigation of demand and supply of a public good " public understanding of the economy¿ had led us to discover a phenomenon which we have called Twin Paradox ¿ the simultaneous existence of high demand for ¿public understanding of the economy¿ on the one hand, and the lack of ¿ public understanding of the economy¿ and ¿decline in the study of Economics¿ on the other hand. We also examine critically the current method of teaching Production Costs - one of the core topics in Introductory Economics. The focus of our criticism is that it inevitably creates in the minds of beginning students a false perception that ¿things have costs¿. To justify this we invite our readers to an exciting journey to trace back the evolution of that notion in the mind of our personage John Smith.