Write a summary of the article and be concise and make an overview of the article. It will be two-part, one is a summary another is the writer's thoughts.

Hi! I am an economist and this is a talk about economics. Okay, don’t turn it off. Don’t press the next button. Hear me up. Look I get it. I know when the topic of economics comes up most people shut off. And I am pretty sure I am not what you picture. When you think about up...She is an economist in a major financial institution. But that’s not your fault...we are taught that economics is a dry...complicated and sometimes heartless felt. I am here to tell you that actually economics is accessible to each and every one of us and if you are in the up-to-the field you might discover something even more powerful within yourself. Let start with the biggest misconception about economics, that it is strictly about money. Even if you work up the definition of economics, it will tell you it’s about production, consumption, and transfer of wealth. Boring! And kind of wrong. A better definition of economics, the one I have always subscribed to you is that “It’s the study of the allocation of scarce resources in a given constraint.” Okay. Also a little boring. But so much more universal. Basically, economics is the study of what we do with things that we have in limited supply and when we are giving rules around how to use them. Sure, Money is one thing that most of us don’t have an unlimited amount of. But...What about the planning or the Scarce resource of all. Time. Economy studies all these things in more. But economics is complicated. No, let me show you. Let’s break down the most fundamental concept in economics. Supply and Demand. The idea that when supply is low and demand is high, prices rise and vice versa. Okay. You make complex economic decisions every day. Sometimes they are pretty sudden. Like, have you ever gone to a store and pulled the product off the shelf and thought you know what I will just check on Amazon to see if it’s cheaper. And sometimes large disruptive forces make those economic traces more obvious to us. Here is another idea that central to economics that seems complicated but actually pretty straightforward. We call an economy’s ability to grow, its the potential growth rate. An economist measures the change in labor force participation rate + the change in productivity. Okay, I am already bored too. So let’s just throw out the formulas and from now on when you think of an economy I want you to picture your favorite Burger joint. The growth rate of that burger joint is really simply how many burgers it can make. That’s obviously gonna be a function of two things.1st How many people work behind the counter (Your Labor force) and 2 nd How fast each one makes a hamburger (Your Productivity). If followed this far...Boom!! You have understood the concept of the economy and its potential growth rate. And here comes the fun part. Once we know what our potential is the next step is to live up to it. Both as individuals but also in our economies at large. How do we make sure that our economy is not just living up to their potential and growing their potential overtime? Well in my mind we need to have pretty big conversations about affordable and accessible child care, public transportation, competition, and even re-skilling and re-tooling our economy towards a more sustainable and inclusive future. That’s our real economic potential. There are entire subfields of economics devoted to improving the way the world works. There environmental economics which seeks to preserve our planet, stratification economics which studies income and racial inequalities, feminist economics which looks into issues like the male and female wage gap. See not only is economics something that we can all understand there is a place for all of us in it.

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Summary Economics is the analysis of how scarce resources are allocated in a given constraint The principle of supply and demand states that prices in... View the full answer