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See the Invisible Hand. Understand Your World. That's the tagline of Modern Principles and our teaching philosophy. Nobel laureate Vernon Smith put it this way:
At the heart of economics is a scientific mystery
a scientific mystery as deep, fundamental and inspiring as that of the expanding universe or the forces that bind matter
How is order produced from freedom of choice?
We want students to be inspired by this mystery and by how economists have begun to solve it. Thus, we show how markets interconnect and respond in surprising ways to changes in resources and preferences.
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