Economics

"When you learn, teach. When you get, give." — Maya Angelou We are all adjusting to this "new world" brought about by the COVID-19 pandemic. While things have no doubt been a struggle for many in Southeast Michigan, I believe businesses have a responsibility to do the right thing and be part…

Aimed at humans, not gods.

Question of the Day Budgeting #35 How much do millennials spend annually on coffee? www.ngpf.org Last updated: 8/30/18

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?

Answer: 27% Questions: Which majors do you think are more likely to lead to a job in that field? What steps can you take to prepare yourself for employment, regardless of which major you choose? Given that almost 3/4 of college grads end up in fields that are not related to their major, do you think it's a good idea to consider multiple majors while in college?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.  Behind the numbers (Inside Higher Ed): A New York Federal Reserve Bank study came up with this 27% statistic. The Insi...

A historic amount of packages and rising employee Covid-19 rates are causing significant backlogs at US Postal Service processing facilities before Christmas.

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.

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

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 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 (

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

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 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.

The introduction of the three-point line changed how people play basketball. And it has some compelling parallels to economics.

Shannon Reaves, the owner of body care maker Bath Savvy, had to make a call in June: Reopen her retail store or cut the lease and move on. The Harper Woods resident chose the latter. She closed her shop in the Rust Belt Market in downtown Ferndale in favor of focusing her efforts online during…

Even billionaires need to start somewhere - and often that's with a college education. See which colleges produce the most American billionaires.

Starbucks said it would directly connect the building of inclusive and diverse teams to the pay of its executives.

Detroit-based online retailer Ash & Erie has had great success since its start in 2015 and the clothier is determined to not let the pandemic slow its momentum.The company, which specializes in clothes for men 5 feet 8 inches and shorter, primarily has focused on clothes for professionals, but…

The Republican-controlled Legislature wanted to spread skyrocketing unemployment insurance costs across all taxpayers as a way of helping businesses. Democratic Gov. Gretchen Whitmer is having none of it.But that's not going to stop the bill from coming due.Whitmer's line-item veto Tuesday of the…