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EconGuy Videos: Making Workers Better Off

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Most people are interested in seeing workers earn a decent wage. But how does that happen? Is forcing employers to be more generous the key to rising standards of living? To find out how to raise livng standards, this video looks at big differences in wages: from 100 years ago to today; and between poor countries and the US. Through these examples, economists identify productivity and output as the key to increasing living standards.

Material Type: Lecture

Author: Patrick Walsh

EconGuy Videos: Minimum Wage

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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

Material Type: Lecture

Author: Patrick Walsh

EconGuy Videos: Obamacare

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ObamaCare is the capstone of the New Deal - or it's a socialist plot to destroy America. It's hard to figure out the truth about Obamacare. EconGuy is here to explain how and why Obamacare reforms health insurance markets, helps individuals buy private health insurance for themselves, how it's similar to reforms enacted in some states, and the possible impact on jobs, employers, and insurance premiums.

Material Type: Lecture

Author: Patrick Walsh

EconGuy Videos: Price Gouging

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When sellers raise prices in response to crises, mere mortals call it "price gouging". Economists call it "arbitrage". Buying low and selling high explains how goods move around in the economy. And preventing prices and arbitrage from working is what caused gasoline shortages after hurricane Sandy.

Material Type: Lecture

Author: Patrick Walsh

EconGuy Videos: Tragedy of the Commons

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Why are we overfishing the oceans? Why are we cutting trees faster than they're growing? Why did the Easter Islanders resort to cannibalism? And how did an economics professor dad stop his teenage sons from wasting his whole paycheck on soda pop? It turns out that all of these are examples of the Tragedy of the Commons. This economic theory explains why, when a resource is collectively owned, there is no incentive to use it sustainably. This explains why many natural resources are depleted, even though that makes everyone worse off.

Material Type: Lecture

Author: Patrick Walsh

EconGuy Videos: the Laffer Curve

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Can the government actually increase tax revenues by cutting tax rates? A lot of politicians - and even some economists - seem to think so. The idea is that the tax cut will spur so much economic growth that tax revenues increase despite the lower rate. It's an idea known to economists as the Laffer Curve. But is that true? EconGuy looks at the numbers, and then at recent U.S. experience with tax cuts, tax increases, and revenues.

Material Type: Lecture

Author: Patrick Walsh

EconGuy videos: Debt Ceiling

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What is the debt ceiling that we keep hearing about? For that matter, what is the federal debt, where does it come from, and how big is it? Does the debt limit actually limit the debt? What would happen if Congress failed to raise the debt ceiling? And what does the debt limit have to do with tight pants?

Material Type: Lecture

Author: Patrick Walsh

Economic Demise of the Soviet Union

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The economic demise of the Soviet Union is surely one of the great events of modern history, an upheaval that will continue to have monumental impact on global politics and trade. Soviet history is the vehicle for teaching fundamental skills and principles of economic reasoning, which are then used to analyze the complexities of the intertwined economic, political-legal and more-cultural components of Soviet society. The lessons not only explain why the Soviet economy collapsed, but also provide insights into our own economy.

Material Type: Activity/Lab, Assessment, Lesson Plan

Economic Forces in American (U.S.) History

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History teaches us that properous advanced national economies like the U.S. share a common institutional framework conducive to creativity, production, and exchange. That institutional framework of individual freedom, rule of law, clearly stated rights to private property, and open competitive markets shapes incentives to encourage material advance. The multiple perspectives approach to historical-scholarship requires viewing events, trends, and developments through a variety of analytical lenses. Often overlooked in traditional history curricula are the insights that the economic way of thinking adds to social, political, and geographic perspectives. Emphasizing the role of institutions, Economic Forces in American History looks at the impact of seven key forces in shaping the development of the United States.

Material Type: Activity/Lab, Assessment, Lesson Plan

Economics and You

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Understanding economics, what some people call "economic literacy," is becoming essential for citizens in our national and increasingly interconnected world economy. Increasingly, productive members of society must be able to identify, analyze, and evaluate the causes and consequences of individual economic decisions and public policy including issues raised by constraints imposed by scarcity, how economies and markets work, and the benefits and costs of economic interaction and interdependence. Such literacy includes analysis, reasoning, problem solving, and decision making that helps people function as consumers, producers, savers, investors, and responsible citizens. - From the Michigan Grade Level Content Expectations

Material Type: Textbook

Authors: Brian Weaver, Katie Hintz, Kelly Dutcher, Kim Noga, Ronalyn Arsenau, Travis Balzar

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