what tools do economists use useful

Three of the most effective tools that economists use are the scientific method, graphs, and economic models.  Explain what the scientific method involves.

The scientific method involves posing a question, researching the question, developing a hypothesis, conducting studies to collect information, analyzing the information, and then evaluating the hypothesis 

Why have economists become skilled at analyzing existing and historical data?

When economists lack experimental data, they have to be satisfied with whatever data society naturally provides.

What is a graph and what use does it have for the economist?

Graphs are useful tools for analyzing and displaying data. A graph is a visual representation of the relationship between two given sets of data.

Economists use two-dimensional graphs to simplify the complex, three dimensional world in which we live

When comparing data, one or both sets of data are also known as variables.  So what is a variable?

A variable is a quantity that can vary, or change

For what purpose do economists use two-dimensional graphs and what is the downside (bad thing) about them? 

because it is a simplification, a graph may not yield a complete picture of how two sets of information are related

(Because our world is so complex, and too many factors)

Explain what an economic model is and how they are useful to economists.

An economic model is a simplified representation of reality that often allows economists to focus on the effects of one change at a time.

Economists use models to help them understand how the world works and models can also help economists structure their thinking

What kind of forms can economic models take?

 A model can take the form of an equation, a computer program, or a diagram, or it can consist mainly of a written description.

What is the purpose of the rational-behavior model and what does it theorize about human behavior? 

This model is a tool for understanding the mystery of human behavior.

 It theorizes that people behave in ways that are rational, or based on reason. And that people make decisions that they think will fulfill their wants and needs, to the greatest extent possible

The rational-behavior model points out something kind of selfish about human behavior.  We sure are seeing a lot of this in politics today.  What is that?

That people behave in ways that serve their own interests, without taking into account the well-being of others.

The rational-behavior model, focuses on self-interest

How do economic models aid an economist?

economic models aid in examining effects, one change at a time, and in making predictions about the consequences of that change

How are good economic models useful when it comes to the economy?

Good economic models are useful for both explaining and predicting how the economy operates.

How can thinking like an economist be in your best interest?

So, thinking like an economist is in your best interest because it  helps you make better decisions.