How to fall in love (with Economics)

You chat. It’s nothing.

(When demand increases, price increases; but when price increases, quantity demanded falls!)
Wow, that’s cool.

(The price mechanism rations the limited goods and services to those who are most willing and able to pay, based on dollar votes.)
So what that’s what you do?

(The price mechanism achieves allocative efficiency.)
mmm..

(But we have to make a lot of assumptions.)
I see!

(The government sometimes likes to intervene in markets by giving out subsidies. For example, Edusave is provided to all students to correct for market failure in education.)
Nice. Yeah I like that too. Totally relatable.

The Economist Articles — Week of 19 Mar 2016

Every week I read through The Economist to pick out articles that may be useful for teaching in the classroom. I’ll be sharing some of my notes and the discussion prompts I’ve come up with in these weekly posts. For students, they can serve as guide-rails for your reading. For teachers, I hope they will be helpful for your teaching.

1. Measuring inflation — How much is that doggy?

Consumer Price Index: “At the moment, calculating America’s consumer-price index (CPI) involves sending people into shops to note down prices. The basket is based on a survey of consumers which is updated only every three years or so.” Explain briefly how the CPI is computed.

The Economist Articles — Week of 12 Mar 2016

Every week I read through The Economist to pick out articles that may be useful for teaching in the classroom. I’ll be sharing some of my notes and the discussion prompts I’ve come up with in these weekly posts. For students, they can serve as guide-rails for your reading. For teachers, I hope they will be helpful for your teaching.

1. African agriculture — A green evolution

Increased productivity: “Rwanda’s farmers produced 792,000 tonnes of grain in 2014 — more than three times as much as in 2000.” “as a result of better-managed, better fertilised crops grown from hybrid seeds.” According to the article, what were the factors holding back productivity for African farmers for the past fifty years? Explain how “boosting agricultural productivity is among the best ways of raising living standards across the continent.”

The Economist Articles — Week of 5 Mar 2016

Every week I read through The Economist to pick out articles that may be useful for teaching in the classroom. I’ll be sharing some of my notes and the discussion prompts I’ve come up with in these weekly posts. For students, they can serve as guide-rails for your reading. For teachers, I hope they will be helpful for your teaching.

1. Electricity in Nigeria — Powerless

Asymmetric information: “Even as companies were bidding to buy power stations… striking staff prevented them from looking at what they were buying… they had bought rundown equipment and companies whose books had been systematically cooked.”

The Economist Articles — Week of 27 Feb 2016

Every week I read through The Economist to pick out articles that may be useful for teaching in the classroom. I’ll be sharing some of my notes and the discussion prompts I’ve come up with in these weekly posts. For students, they can serve as guide-rails for your reading. For teachers, I hope they will be helpful for your teaching.

1. Forests — A world on fire

Externalities: “Smoke settled over Singapore for months…” “For much of last October greenhouse gases released by those fires exceeded the emission of the entire American economy.”