Economic Way of Thinking

With demand for COVID-19 vaccines outpacing the world's supplies, a frustrated public and policymakers want to know: How can we get more? A lot more. Right away.The problem: "It's not like adding more water to the soup," said vaccine specialist Maria Elena Bottazzi of Baylor College of Medicine…

When administrators at Hillsdale College, a conservative liberal-arts school, heard its local hospital didn't have a way to store the Pfizer-BioNTech covid vaccine, they offered the use of its science department's ultra-low temperature freezer. The vaccine must be stored at minus 94 degrees…

Brady has a large incentive waiting for him with a Super Bowl victory

Metro Detroiters craving crispy chicken lined up by the dozens in Shelby Township and Northville on Thursday, as two new Chick-fil-A restaurants opened for the first time.

The drugmaker aims to provide about 100 million doses domestically by the end of June if study results are positive and the U.S. authorizes its shot.

Here's a complete list of 100+ hacks we can use to boost important "happiness chemicals" such as dopamine, oxytocin, serotonin, and endorphins. These are the building blocks to living a happier and healthier life. Which

The old factory town of Kalamazoo has become a center for COVID-19 vaccine manufacturing. That may help the area's economy turn a corner after some tough years.The southwest Michigan city of Kalamazoo, ranked highest in this year's Bloomberg Brain Drain Index of population loss of top talent, has…

Answer: $3 billion Questions: Why do you think that the balance on unused gift cards is in the billions? What strategies can a consumer use to make sure that they don't lose track of their gift cards? Would knowing that many people don’t use gift cards affect your gift-giving habits (i.e., would you decide not to give gift cards anymore since you’d be afraid it would never be used?) Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (CBS News): "A prepaid gift card may be a popular holiday present, wit...

Royal Oak-based WaitTime is expanding its business with Cisco as the global IT giant gears up to help sports arenas and entertainment venues reopen to the public amid the pandemic.

Juggling too many activities wastes time and energy, so shelve at least some for those life goals (for now).

As vaccinations continue across the U.S., some companies are offering financial incentives to encourage their workers to get the shots.Instacart Inc., the grocery delivery service, announced Thursday that it would provide a $25 stipend for workers who get the COVID-19 vaccine. It joins others,…

Some cities and regions in the heartland want to bring energy and vitality to their towns by attracting dynamic workers. The programs are getting a lot of attention during the pandemic.

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Aimed at humans, not gods.

Answer: 7 Questions: How often have you worn the outfit that you are wearing today?  One writer thinks about their clothing cost by analyzing their CPW (cost per wear calculated by dividing the cost by number of times that an item is worn). What do you think the CPW is for your favorite pair of shoes/sneakers? favorite jeans? What do you think social media's impact has been on clothing sales?

A new study suggests ways of structuring payments to persuade even impulsive students to behave more cautiously.

A recent study looked at the idea of paying people to give blood, something already being done for plasma donations.

Current Topic: Opportunity Cost Previous Topics Connected: Trade offs, scarcity, cost-benefit analysis Future Topics Foreshadowed: marginal analysis Article: Harry and Megan officially start their non-royal life Link: https://www.cnn.com/2020/03/31/world/prince-harry-meghan-new-roles-intl/index...

The couple have relinquished their royal duties as of March 31. What comes next is reinvention.

The Money Game Lesson: Incentives Matter Materials: a penny, a one-dollar bill, a five-dollar bill, a ten-dollar bill Monetary cost: $16.01 (but can be scaled down) Time: 5 minutes The Game: This game was adapted from an example used by a fictitious character in the book The Invisible He...

Directions: Students need to take the Time Use survey prior to class (Student Time:

Current Topic: Incentives Previous Topics Connected: None Future Topics Foreshadowed: Opportunity cost, marginal benefit, marginal cost, demand News Article: Hooponomics! Link: Indicator Podcast with transcript Description: Podcast (

Current Topic: Incentives Previous Topics Connected: None Future Topics Foreshadowed: Demand, Taxes News Article/Podcast: Are Plastic Bag Bans Garbage? Link: https://www.npr.org/sections/money/2019/04/09/711181385/are-plastic-bag-bans-garbage Description: In an effort to cut down on waste, many...

A national movement to ban plastic bags is gaining steam, but these restrictions may actually hurt the environment more than help it.

A single test that can give false reassurance sounds bad. But a $10 test for the coronavirus, if repeated daily, would discover real infections, say proponents of such tests as screening tools.

A national network of food banks couldn't figure out how to get the right food to the right place at the right time. So they tried a bold experiment: the free market.