The COVID-19 pandemic offers a real-world framework to teach basic macroeconomics. Decreases in economic activity led to severe downturns in economic growth and increased unemployment. Both […]
The “Candy Price Index” by Hazlett and Hill (2003) introduces students to the biases of the Consumer Price Index (CPI). This paper extends their assignment to […]
According to Merriam-Webster Dictionary, an analogy is “a comparison of two otherwise unlike things based on resemblance of a particular aspect.” This paper presents practical examples […]
This article describes an unusual market I use in my intermediate microeconomics courses to illustrate characteristics of monopoly and monopsony power. For over sixty years the […]
Emissions fees (taxes) and abatement subsidies are common policy solutions when negative externalities, such as pollution generated from production, impact market transactions. Textbook treatment of these […]
