Economists Do It With Models

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Entries Tagged as 'Econ 101'

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When An Economist Attempts Home Improvements…

May 26th, 2015 · 2 Comments
Decision Making · Econ 101

Protip: Whenever you get the urge to retile a bathroom, go read an Econ 101 chapter on comparative advantage. — Jodi Beggs (@jodiecongirl) May 17, 2015 Dear Econodiary, I’m very sorry to have failed you- I know economists have a lot of good points to make, but sometimes those points are difficult to implement, usually [...]

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Tags: Decision Making · Econ 101

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Go Teach Your Students: Introducing The Econ 101 Database

January 29th, 2015 · 3 Comments
Administrative · Econ 101

So I made something new for you: A couple of years ago, I was told a story about how Milton Friedman would teach his Principles of Economics courses by walking into the classroom each day, opening the newspaper, and discussing the economics behind the stories that he saw. Now, I don’t know whether this tale [...]

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Tags: Administrative · Econ 101

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Just A Friendly Reminder Of How Monetary Policy Actually Works…

January 19th, 2015 · Comments Off
Econ 101 · Macroeconomics

I seriously need to order this for my office: If you don’t get it, I humbly suggest a reminder on the mechanics of money supply and interest rates.

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Tags: Econ 101 · Macroeconomics

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Economics Can Answer That! Oil Prices Edition…

December 17th, 2014 · 8 Comments
Econ 101 · Markets

To quote from The Consumerist: You may have noticed prices gradually falling at your neighborhood gas station over the last few months, what you may not know is that the price of oil has been falling even faster than that. Why aren’t station owners passing the savings on to drivers? The article goes on to [...]

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Tags: Econ 101 · Markets

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The Latest On Surge Pricing, Now With More Digression Into Income Inequality…

December 16th, 2014 · 12 Comments
Econ 101 · Markets

I’m beginning to think that the overlap in the Venn diagram of “Economic Theory” and “Good PR” is an area that my cat couldn’t resist trying to crawl through due to her obsession with small spaces. Case in point (re the economics, not the cat): We are all concerned with events in CBD. Fares have [...]

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Tags: Econ 101 · Markets

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My Favorite Coase Theorem Illustration Is Taking Over The World…

August 29th, 2014 · 61 Comments
Behavioral Econ · Econ 101

The fall academic semester is quickly approaching, so it’s a good time to remind readers that one of the goals of this site is to give economics instructors interesting examples and discussion topics for their classes. Those of you teaching Principles of Economics this term (as well as those of you teaching Environmental Economics and [...]

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Tags: Behavioral Econ · Econ 101