Pick a personal experience and use the tools discussed this week to analyze it. You do not need to use all the tools but analytical tools you can use would include how this choice maximized your utility (compared to alternative choices you had), what might have made you indifferent between the choice you made and the alternatives you had, or what sort of cost-benefit process did you consider. Keep in mind economics is about analyzing and thinking about those things we already do, so your response is just about connecting the tools we are learning about, the actions you already do, and the choices you make.

references: Modern Principles of Economics, 5th Edition (New York: Worth Publishers, 2021), Tyler Cowen and Alex Tabarrock. ISBN 10: 1319245390; ISBN 13: 978-1319245399. Chapters 1-3