Common Sense Economics for Legislators is a nonpartisan program of the Hammond Institute and the Economic Education Center designed to help legislators engage voters about economics. Its aim is to improve voters’ understanding of the modern world while helping lawmakers engage constituents in meaningful conversations about economics and personal finance. Sessions include lawmakers, staff, and other participants in the legislative process.

​

The four conversation themes cover key concepts, including scarcity, gains from trade, marginal decision-making, supply and demand, profits and losses, sources of economic growth, and the invisible hand.

 

Theme I: Twelve Key Elements of Economics

Explains the importance of rule of law, private ownership, competition, monetary stability, low taxes, and open trade as sources of wealth creation and prosperity.

 

Theme II: Seven Major Sources of Economic Progress

Describes the protective and productive roles of government. Compares and contrasts how the political process works relative to markets. Explains why it often goes awry and makes suggestions for improvement.

 

Theme III: Economic Progress and the Role of Government

Highlights key elements of sound personal decision-making including career choice, budgeting, saving, investing, insurance, and wise use of credit.

​

Theme IV: Twelve Key Elements of Practical Personal Finance

Highlights key elements of sound personal decision making including career choice, budgeting, saving, investing, insurance, and wise use of credit.