Economists Do It With Models

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Entries Tagged as 'Econ 101'

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Price Discrimination: You’re Doing It Wrong…

January 16th, 2014 · 4 Comments
Econ 101

Let’s be honest- price discrimination is an important thing to talk about in class, but by the time it rolls around (in a principles course at least) you’re already rushing to cram in all of the material and too exhausted to bother coming up with clever/funny examples to use anymore. (Instructors, don’t even pretend that [...]

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A Lesson In Quality Over Quantity, Comic-Con Edition…

October 16th, 2013 · 3 Comments
Econ 101 · Markets

Preface: You know it’s gotten pretty bad when you’re overthinking a blog post written by a group called “Overthinking It.” One of my nerd soul mates over at Overthinking It put together some interesting data from New York’s Comic-Con, including some potential explanations for why the prices that celebrities charge for autographs are what they [...]

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Tags: Econ 101 · Markets

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A Bonus Video On How To Find Consumer Surplus And Producer Surplus Graphically…

September 27th, 2013 · 8 Comments
Econ 101 · Videos

A bonus video for you- I figured it would be helpful for those of you who are taking econ 101 to have a tutorial on how to find consumer surplus and producer surplus on a graph, since the rules are pretty straightforward but not always well explained. You can find more practice problems and tutorials [...]

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Tags: Econ 101 · Videos

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When The Going Gets Tough, The Tough…Grow Strawberries???

September 26th, 2013 · 2 Comments
Econ 101

In working on my Econ 101 of the Day and Practice Problem of the Day series, I’ve been poking around a number of different principles textbooks as opposed to only looking at my old Mankiw standby. In doing so, I’ve noticed that different texts explain things slightly differently, and there was one part that really [...]

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The Tragedy Of The Common Tip Pool…

September 15th, 2013 · 7 Comments
Behavioral Econ · Econ 101 · Incentives

If you’ve been reading here for a while, you’ve probably caught on to the fact that I’m really into incentives. If you know me in real life, you’ve probably caught onto the fact that I hate tipping. No, not like that- I’m not a crappy tipper, I just really dislike the whole tipping system, mostly [...]

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Tags: Behavioral Econ · Econ 101 · Incentives

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Sorry, Not Even Chuck Norris Is Immune To Economic Forces…

September 13th, 2013 · 3 Comments
Econ 101

Reader BZ posted the following on my introduction to the Practice Problem of the Day series: My gut tells me that I want to like this so hard…and I do suppose that if anyone was going to have a comparative advantage in anything, it would be Chuck Norris. That said, I’m pretty sure that even [...]

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Tags: Econ 101