If you travel a lot by airplane, you have almost surely encountered an overbooked flight. Maybe you were even the person who volunteered to get on a
As a foundational social science that guides business decisions, economics studies how individuals and firms allocate scarce resources, how consumers and firms interact in the market place and the resulting economy as a whole.
Why The Current Federal Reserve Policy Is Dangerous
In response to the current economic situation, the Federal Reserve has lowered interest rates to near zero percent and intends to keep them between zero
Why Economists Don’t Want You to Stress Over Christmas Gifts
Once Halloween passes, big displays in stores remind us that it is time to start thinking about our Christmas shopping lists. Every year, many of us
Supply and Demand Curve Explained
If you have ever taken an economics course, you have likely encountered supply and demand. While these curves are easily drawn with the stroke of a pen,
Monopolies: Three Things Economists Want You to Know
Monopolies have played a major role in American economic history. From Standard Oil in the early 1900s to Microsoft in the early 2000s, there has been a
What can game theory tell us about presidential elections?
Every four years, Americans get to witness a special kind of political spectacle: presidential elections. The US elections have two interesting features