This document discusses the relationship between economics and other fields of study. It explains that economics is related to history, ethics, political science, sociology, and other sciences like chemistry, biology, physics, and mathematics. Politicians have great control over the economy through policies. The document also briefly outlines some key inventions during the industrial revolution like the flying shuttle, cotton gin, spinning jenny, and steam engine that increased industrial output and production. It concludes with an assignment to research how economics influences people's lives.

1. Lesson 2: The Economic Way of Life

2. News Analysis (from the 2-day economic
journal)

6. The Scientific Method
Identify the Problem.
Make Assumptions or Hypothesis
Gathering of Data and Information
Data Analysis
Make Conclusion and Recommendation

7. Social Science Natural Science Abstract Science
HISTORY
ETHICS
POLITICAL SCIENCE
SOCIOLOGY
CHEMISTRY
BIOLOGY
PHYSICS
MATHEMATICS

8. Economics and Sociology

9. Economics and Ethics

10. Economics and History
History is the recorded struggle of man from the
past to the present.

11. Economics and Political Science

12. Politicians, whether
conservative or
liberal, have great
control on the
economy.

13. Economics and Physics

14. Economics and Chemistry

15. Economics and Biology

16. Economics and Mathematics

18. Industrial Stage

19. Inventions during the Industrial Revolution
Flying Shuttle for textile weaving by John Kay
Cotton gin for mechanically clearing cotton of its
seeds by Eli Whitney
Spinning Jenny for simultaneous weaving of 80
thread by James Hargreaves

20. Inventions…
Steam engine to
increase the
output of
coalmines
Water frame for
water operators by
Richard Arkwright

21. Assignment
Research on the influences of economics in people’s
lives.