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Here is a great interactive video from the WSJ that explains some of the finer details of the new healthcare law. Based on this video could you: write a normative and a positive economic statement? Distinguish the implications this video has in terms of efficiency and equity?  As we make the transition from consumers to producers it is important to consider the intersection of supply and demand. This week's video lecture shows an interesting segment of the market that is outside the lines of both.
One of the questions to the video lecture asks you to find your favorite knock-off. If you have a particularly good one, list it in the comments to this post.  Google images For Thursday's lecture on the underground economy I would like you to listen to this podcast by Planet Money (NPR). Here are some questions to expect on the quiz - What is the name of the drug being discussed? What is its purpose? Why don't doctors prescribe this drug more often? Why has demand tripled for this type of drug?
This one comes from the WSJ's Real Time Economics. A staggering 2.2 million people will lose their unemployment benefits if an extension is not passed. That means 2.2 million people who've received federal aid for the past 99 weeks (almost 2 years!) will be without a paycheck of any kind. We know as economists though that people respond to incentives. In your opinion do unemployment benefits keep people from working, or is this a necessary safety net? If you were the policymaker would you allow people to receive benefits for longer?
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July 2017
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