Economics Basics
Game Theory
A mathematical framework that can explain why two entirely rational people, each acting purely in their own self-interest, can still end up making each other worse off.
Inflation
A little bit of it, deliberately, is actually the goal — central banks don't aim for zero inflation, they aim for a small, steady amount of it.
Interest Rates
A single number set by a handful of central bank officials ripples out to affect mortgage payments, credit card bills, and stock prices for an entire country almost simultaneously.
Recessions
The commonly cited definition of a recession — two straight quarters of economic decline — isn't even the official rule the US actually uses to declare one.
Supply & Demand
The single idea behind nearly every price change you've ever noticed — from surging concert ticket prices to cheaper flights on a random Tuesday.
GDP
GDP is treated as the single defining number for a country's economic health, yet it says nothing directly about how evenly that wealth is actually shared.