Ten Key Ideas
These are the fundamental principles of economics that get used over and over again, captured in a series of essays for someone with no background in economics.
- Incentives Matter
- Understanding Costs
- How Markets Work
- How Prices Emerge
- Comparative Advantage
- The Division of Labor
- The Extended Order of Cooperation
- Externalities (coming soon)
- How Politicians Behave
- What Politicians Can and Cannot Do
A Little Theory
Want to go to the next level? These are notes my students and I use when teaching microeconomics or price theory or principles (pdf files):
- Supply and Demand and common mistakes students make when using them
- Applications of Supply & Demand
- The Theory of the Consumer
- Consumer Surplus, Producer Surplus and Efficiency
- The Theory of the Firm
- How Markets Use Knowledge
Visual Essays
These are essays I've written using data and charts to look at fundamental economic questions.
- Does the Trade Deficit Destroy American Jobs
- Half Full: A Fairly Cheery View of the American Standard of Living