Is raising the minimum wage a good idea? Many people think it's a great way to help low-income families. But some economists worry that the minimum wage doesn't reach the poorest families, helps a lot of people who don't need it, and can lead to job cuts. Here are some facts & figures from the debate over the minimum wage

A one-day strike by fast food workers in New York City is a teachable moment for students on the fast food industry and worker organizing. This lesson includes a brainstorm, small-group readings and discussion, and an opinion continuum activity to get students thinking about these issues.

This course applies microeconomic theory to analysis of public policy. It builds from the microeconomic model of consumer behavior and extends to operation of single and multiple markets and analysis of why markets sometimes fail. We will study empirical examples to evaluate theory, focusing on the casual effects of policy interventions on economic outcomes. Topics include minimum wages and employment, food stamps and consumer welfare, economics of risk and safety regulation, the value of education, and gains from international trade.
MITx Online Version
This course is part of the Micromaster’s Program in Data, Economics, and Design of Policy through MITx Online. The course is entirely free to audit, though learners have the option to pay a fee, which is based on the learner’s ability to pay, to take the proctored exam, and earn a course certificate. To access the course, create an MITx Online account and enroll in the course 14.003x Microeconomic Theory and Public Policy.

This resource is an integrated unit spanning math, economics and English. This unit is focused on the the subject of the minimum wage and the themes of equity, financial stability and quality of life.

This 9 minute video will aid students in understanding how minimum wage attempts to create economic equity but will create a surplus of labor. This video will aid in the mastery of standards EPF. 3 (d) and 10 (b)

This 9 minute video will explain the example of how price floors create a surplus using minimum wage as the example. This video will aid in the mastery of EPF. 3 (d)

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

By the end of this section, you will be able to:

Discuss how international trade influences the job market
Analyze the opportunity cost of protectionism
Explain how international trade impacts wages, labor standards, and working conditions

By the end of this section, you will be able to:

Explain how inflation can cause redistributions of purchasing power
Identify ways inflation can blur the perception of supply and demand
Explain the economic benefits and challenges of inflation

By the end of this section, you will be able to:

Predict shifts in the demand and supply curves of the labor market
Explain the impact of new technology on the demand and supply curves of the labor market
Explain price floors in the labor market such as minimum wage or a living wage

By the end of this section, you will be able to:

Analyze cyclical unemployment
Explain the relationship between sticky wages and employment using various economic arguments
Apply supply and demand models to unemployment and wages

In this project, you will explore a real-world problem, and then work through a series of steps to analyze that problem, research ways the problem could be solved, then propose a possible solution to that problem. Often, there are no specific right or wrong solutions, but sometimes one particular solution may be better than others. The key is making sure you fully understand the problem, have researched some possible solutions, and have proposed the solution that you can support with information / evidence.Begin by reading the problem statement in Step 1. Take the time to review all the information provided in the statement, including exploring the websites, videos and / or articles that are linked. Then work on steps 2 through 8 to complete this problem-based learning experience.

Students learn about the demographics and experiences of fast food workers and their efforts to raise wages through strikes over the past year, and consider what consequences major wage increases might have on consumers and economy.