Betsey Stevenson | How to Think Like an Economist
Hey there, Money02 listeners! This is part 1 of 2 insightful conversations with Betsey Stevenson, a Harvard-trained PhD in economics who has served as the Chief Economist at the U.S. Department of Labor and as a direct advisor to President Obama on labor and social policy issues.
In this episode, Betsey shares her journey into economics and how she became passionate about using economic tools to make good decisions for individuals and communities. We dive deep into some of the most important economic principles for us ânon-economistsâ that everyone should and can utilize to better serve their own financial life, including understanding opportunity costs, thinking incrementally, and considering the costs and benefits of every decision.
Betsey also shares valuable tips for Americans to protect their purchasing power during times of inflation, the benefit of side hustles in preparing for macroeconomic downturns, and other trends that Betsey foresees impacting the average American's financial well-being. This episode is packed full of information and is a brilliant opportunity for us to learn from someone like Betsey who is a renowned Professor of Economics/Public Policy - teaching at top universities like the University of Michigan, UPenn, and more. It's a kin to a crash course in economics. My hope is that learning from Betsey gives us all better tools and frameworks, so, as Betsey puts it, we can all "think like an economist."
Enjoy Part 1 of this episode with Betsey Stevenson.
If you feel like reading a textbook on economics, find Betseyâs textbook here: Principles of Economics
