This guy breaks down Mankiew's principles of economics into terms we can all understand (though the original list isn't what you would call earth-shattering either). <bq>Let's begin by separating them into the first seven principles, which are <i>micro</i>economics, and the last three, which are <i>macro</i>economics. The difference, of course, being that microeconomists are economists that are wrong about specific things, and macroeconomists, who are wrong about things in general.</bq> <media src="http://www.youtube.com/v/VVp8UGjECt4" source="YouTube" href="http://www.youtube.com/watch?v=VVp8UGjECt4" caption="Principles of economics, translated" author="Yoram Bauman" date="02/16/07" align="center" class="frame">