Intro to Economics

December 26, 2017

Public goods and the problems of free-riders and forced-riders

Note: This is post #61 in a weekly video series on basic microeconomics. Public goods provide an argument for taxation and government provision. But how do we know which public goods should be provided? Continue Reading...

December 12, 2017

Public goods and asteroid defense

Note: This is post #60 in a weekly video series on basic microeconomics. While the probability of an asteroid hitting the planet is very low, its effect would be disastrous for all of us. Continue Reading...

December 05, 2017

Do unions raise wages?

Note: This is post #59 in a weekly video series on basic microeconomics. Do unions raise wages for workers as a whole? If not, can unions raise the wages of some workers? Continue Reading...

November 28, 2017

Why increasing job safety lowers workers wages

Note: This is post #58 in a weekly video series on basic microeconomics. Here’s a surprising fact: Firms have an incentive to increase job safety, because then they can lower wages. Continue Reading...

November 21, 2017

The tradeoff between fun and wages

Note: This is post #57 in a weekly video series on basic microeconomics. If you had to choose, would you rather be a sewer inspector spending your days underground or a lifeguard on the beach? Continue Reading...

November 14, 2017

How the ‘sheepskin effect’ signals education and affects wages

Note: This is post #56 in a weekly video series on basic microeconomics. Why do wages in America differ greatly among workers? One reason, says economist Alex Tabarrok, includes differences in human capital—tools of the mind. Continue Reading...

November 07, 2017

Is education signaling or skill building?

Note: This is post #55 in a weekly video series on basic microeconomics. Do you learn about things, because the learning itself matters, or is education all about the signal you—and your degree—send out to the world? Continue Reading...

October 24, 2017

The marginal product of labor

Note: This is post #54 in a weekly video series on basic microeconomics. How are wages determined? Why do most Americans earn so much by global standards? What exactly is meant by ‘human capital’? Continue Reading...

October 17, 2017

Does bundling benefit social welfare?

Note: This is post #53 in a weekly video series on basic microeconomics. Bundling refers to when two or more goods are sold together as a package. Cable TV is a prime example of bundling. Continue Reading...

October 10, 2017

Does tying benefit social welfare?

Note: This is post #52 in a weekly video series on basic microeconomics. What is tying and how is this a form of price discrimination? An example of a tied good is an HP printer and the HP ink you need for that printer. Continue Reading...

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