Why Become An Economist?

The video discusses the role and responsibilities of economists in explaining the workings of the market economy to policymakers and the public. It highlights the challenges faced by the profession, particularly in diagnosing and preventing economic crises. The importance of ethical considerations, such as honesty and the principle of 'do no harm,' is emphasized. The complexity of the global economy is acknowledged, with a call for economists to admit the limits of their understanding to regain public trust.

What is the primary responsibility of economists according to the first section?

• To promote specific ideologies

• To entertain the public

• To provide honest and unbiased information

• To follow popular opinion

In the second section, what role should economists play in society?

• As financial advisors

• As political leaders

• As navigators to avoid economic pitfalls

• As entertainers

What is a major criticism of the economics profession mentioned in the second section?

• They are too involved in politics

• They failed to predict and diagnose economic crises

• They are too focused on entertainment

• They are overly optimistic

According to the third section, what is a significant challenge faced by economists?

• Understanding the complexity of the world economy

• Lack of access to data

• Political interference

• Public disinterest

What can help economists regain public trust, as suggested in the third section?

• Acknowledging their limitations

• Ignoring their limitations

• Avoiding complex topics

• Promising quick solutions