My parents always insisted that I should make economics a core part of what I learnt in school.

So when I went to Ngee Ann as a Mass Communication student, I absolutely disappointed them.

That said, it’s never too late to start learning.

As part of my commitment to becoming a specialist with a generalist skillset, I’ve started to pick up economics along the way by reading articles and watching videos, just to see what I’m missing.

And it turns out, my parents were right. I was indeed missing out on a lot. Here are six theories that made me wish I went to JC and learnt the subject earlier.

We’ve reframed these so that it applies to individuals instead of entire countries or geopolitical regions. Here’s to hoping it helps tweak your perspectives.

They certainly changed mine.

Law of diminishing returns

Simply put: Allocating more time/resources/energy into something usually means a