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Evolution of the Common Belief That “Things Have Costs”: Psychological Perspective

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  • Sergei Peregonchuk

Abstract

The paper examines critically the current method of teaching one of the core topics in Introductory Economics. The area of my criticism of the traditional Production Costs theory as it had been currently taught in many universities across the world is that it inevitably creates in the minds of beginning students a false perception that “things have costs”. The Economic Way of Thinking as the alternative approach to the traditional way of teaching Introductory Economics disarms this popular idea and affirms that “only actions have costs”. The discussion is done in the form of dialogue between the author and a reader.

Suggested Citation

  • Sergei Peregonchuk, 2019. "Evolution of the Common Belief That “Things Have Costs”: Psychological Perspective," Review of European Studies, Canadian Center of Science and Education, vol. 11(2), pages 1-80, December.
    • Handle: RePEc:ibn:resjnl:v:11:y:2019:i:2:p:80
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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