The study of economics is often mistaken for a highly mathematical subject best left to PhD academics.  In reality economics is a logically intuitive subject describing the behaviour of exchange within a society, which is well suited for any acute observer.  Calculus and statistics are but tools to measure direction and degrees of relatedness between stimuli and behaviour.  Behaviour is a function of motivation and incentive.  And so if one understands the motives and incentives then outcomes can be predicted with a high level of probability. 

​The Chicago Economist​