Intro to Economics

January 29, 2019

Why governments create inflation

Note: This is post #108 in a weekly video series on basic economics. Most people do not like when prices rise so most people do not like inflation. But there is one sector that sometimes finds inflation beneficial: government. Continue Reading...

January 15, 2019

Understanding the quantity theory of money

Note: This is post #106 in a weekly video series on basic economics. The quantity theory of money states that there is a direct relationship between the quantity of money in an economy and the level of prices of goods and services sold. Continue Reading...

January 08, 2019

How do we measure inflation?

Note: This is post #105 in a weekly video series on basic economics. Inflation is an average rise in prices. But how exactly is this average rise in prices measured? In this video by Marginal Revolution University, Alex Tabarrok explains how inflation in the United States can be measured using the Bureau of Labor Statistics’ Consumer Price Index (CPI)—a weighted average of the price increases. Continue Reading...

December 11, 2018

How taxing work affects employment

Note: This is post #104 in a weekly video series on basic economics. An important factor influencing an individual’s decision whether to keep working as they get older is their government’s tax and retirement policies. Continue Reading...

December 04, 2018

What labor force participation is (and why it matters)

Note: This is post #103 in a weekly video series on basic economics. Labor force participation is an important concept connected to employment. The labor force participation rate is defined as the section of working population in the age group of 16-64 in the economy currently employed or seeking employment.  Continue Reading...

November 27, 2018

What you should know about cyclical unemployment

Note: This is post #102 in a weekly video series on basic economics. Cyclical unemployment is a type of unemployment that is connected to the regular ups and downs—the cyclical trends in growth and recession—that occur within the business cycle. Continue Reading...

November 13, 2018

What you should know about structural unemployment

Note: This is post #101 in a weekly video series on basic economics. As we saw in the last video, some forms of unemployment—such as short-term, frictional unemployment—can indicate a healthy, growing economy. Continue Reading...