An economist and an accountant are walking along a large puddle. They get across a frog jumping on the mud. The economist says: "If you eat the frog I'll give you $20,000!"
The accountant checks his budget and figures out he's better off eating it, so he does and collects money.

Continuing along the same puddle they almost step into yet another frog. The accountant says: "Now, if you eat this frog I'll give you $20,000."
After evaluating the proposal the economist eats the frog and gets the money.

They go on. The accountant starts thinking: "Listen, we both have the same amount of money we had before, but we both ate frogs. I don't see us being better off."
The economist: "Well, that's true, but you overlooked the fact that we've been just involved in $40,000 of trade."

An economist returns to visit his old school. He's interested in the current exam questions and asks his old professor to show some. To his surprice they are exactly the same ones to which he had answered 10 years ago! When he asks about this the professor answers: "the questions are always the same - only the answers change!"

An economic forecaster was known to have an horseshoe prominently displayed above the doorframe of his office. Asked what it was for, he replied "it is a good luck charm that helps my forecasts".

"But do you believe in that superstition?" he was asked.

"Of course not!" he said, "but it works whether you believe in it or not."

An economics professor and a student were strolling through the campus.
"Look," the student cried, "there's a $100 bill on the path!"
"No, you are mistaken," the wiser head replied. "That cannot be. If there were actually a $100 bill, someone would have picked it up."

Three people are stranded on a small island. One is a physicist, one is a circus strongman, and one is an economist. After a few days of surviving on fruit, they discover a cache of canned food, and they have to decide how to open it. The physicist says to the strongman "Why don't you climb that tree, and smash the cans down on the rocks, and burst them open?"

The strongman says, "No, that would spatter the stuff all over. I can open the cans with my teeth!"

The economist says "First, we must assume that we have a can opener."