Teaching Introductory Microeconomics— The Full Treatment

Abstract

Choices and decisions in business and in economics as well as in life are not made in an ethical vacuum. There are few economic choices that are ethically neutral. By their very nature, choices/decisions involve the worldview of the chooser/decision-maker, and this can cause two individuals possessing an equal knowledge of the same educational tools to make widely different choices when faced with the same alternatives. Consequently, the teaching of microeconomics principles will always be lacking without the infusion of an ethical/philosophical system which gets at how to properly use these principles and tools. This paper will propose that microeconomic principles and tools are best applied using a biblical model and that decision-makers with non-Christian worldviews often make choices based on biblical principles because the latter work best even in a fallen world (II Timothy 3:16). The difference here is in motivation; the Christian’s motivation is to serve Jesus Christ. On the other hand, Christians do not always follow biblical principles because ideal behavior is sometimes compromised due to expediency, greed, or other wrong motives.