Economic Way of Thinking

‎Show Think Like An Economist, Ep Why Should You Think Like an Economist? - Aug 3, 2020

‎Show Think Like An Economist, Ep Introducing: Think Like An Economist - 2020年7月16日

Bryan Caplan’s new book, Selfish Reasons to Have More Kids, (which he blogged about for us here and here) has people talking about happiness and kids, again. Over at Cato Unbound, my better half Betsey Stevenson takes Bryan to task on some of his claims. It’s worth reading the full essay. Jeff Ely at Cheap Talk says you should take note of her views on the distinction between happiness and utility. Instead, I want to highlight an insight that comes from thinking through a formal framework:

This Intro to Economics Lesson Plan introduces students to the concept of scarcity and what impact it has on the economy. Students will be asked to explore scarcity within the country as well as within their own personal life. This hands on lesson plan allows students to see the reality of scarcity and how it make impact everyone, including the individual.

“CONSUMER THEORY” ACTIVITY DETAILS (IN CLASS) LESSON START-UP: Re-cap of homework video content... We know that no two consumers are alike – they all have different tastes & preferences, different budgets, etc. – so how can we say that they all behave in the same way? Conduct an experiment in ...

For the questions below, refer to the following table showing Jenny's Total Utility from eating pizza.

Atlanta offered 50 free parking spots and a lounge for Amazon executives at Hartsfield-Jackson International Airport.

Government researchers did not offer an explanation, but experts cited factors including changing economics and fewer teen pregnancies.

U.S. senators have asked the U.S. intelligence community to assess the national security risks of the video-sharing platform: should TikTokers be worried?

VIDEO DESCRIPTION Allowing organ sales would save lives, but critics say it would hurt the poor. Download Teacher's Guide Download Video (.mp4 FILE) To download this video or the Teacher's Guide that goes along with it, please login. If you don't have an account, register now for ...

Hat tip to Nick Maggiulli of Dollars and Data blog for highlighting this research from .  Answer: Buying experiences Treating yourself (on occasion) Buying extra time Paying upfront (i.e. all-inclusive vacations) Spending on others Questions:  What are ways that you spend money that bring happiness to you? Do they fit into any of these five categories?  Why do you think that researchers found that "buying experiences" might create more happiness than buying "things?" Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Be...

History offers plenty of examples of what happens when we slow innovation because of job fears. It isn’t a pretty picture, the author argues.

"This is just one tool in the toolbox." This is the go-to refrain you'll hear from business groups, lobbyists, and legislators alike when it comes to tax incentive programs like Good Jobs for Michigan, which is set to expire on Dec. 31 if the legislature doesn't vote to either extend or…

Hat tip to Kareem for spotting this interactive. A little bit of math might help you make better decisions when it comes to buying pizza. From NPR.org: One day last year, an engineer and I went to a pizza place for lunch. The engineer told me he wasn't very hungry, but he said he was going to get the 12-inch medium instead of the 8-inch small — because the medium was more than twice as big as the small, and it cost only a little bit more.

Link: Economists discuss the valuation of human life model to determine when the appropriate time to open the economy is. Federal agencies typically value a human life at $10 million. Many economis…

American Airlines said that it plans to pledge its loyalty program as collateral for a $4.75 billion government loan as it seeks to shore up capital to manage through the coronavirus pandemic.

He said that “almost all businesses” understand the $600 additional benefit is “a disincentive.”

Class 4 brings us an economic conundrum: how do you efficiently share a scarce resource? | Subscribe to our weekly newsletter here.

It's remarkable how economic development, and the process of locating a new facility, has changed in the last decade. Just 10 years ago, with a national unemployment rate of 10 percent, companies had little problem finding available employees, and most site location decisions were based on…

Fiat Chrysler is expected to qualify for a suite of state tax incentives as part of its plan to invest $4.5 billion in five Michigan plants.

"Amazon abandoned a high-profile, multi-billion-dollar project rather than stick around and try to make its case."

Walmart plans to offer cash bonuses to workers with perfect attendance records and offer a new PTO benefit.

Patriots TE Rob Gronkowski signed a revised contract Thursday that could make him the NFL's highest-paid tight end.