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Economics
Economic principles shape our lives, from the taxes we pay, to the decisions we make about what to purchase, to how our country and community relates to others around the world. Everyone should learn to spot the economic forces at play in their everyday lives in order to make informed decisions and understand the impact of choices made by powerful individuals and institutions.
The IMF: Protector of the World Financial Order?
Introduction
Did you know that the combined national debt of every country in the world hovers at approximately sixty-nine trillion dollars? This is a testament to just how compli...
Human Development Index: Quantifying Quality of Life
How Do You Quantify “Quality of Life”?
How are you doing, really? Beyond the knee-jerk reaction of “I’m fine, thanks,” if you pause and give this question some true consideration,...
The Federal Reserve and Monetary Policy: All the Money in the Economy
Have You Ever?
Imagine a world where money was free-flowing, and there were no rules on how to spend, borrow, or lend it. Sounds kind of nice, right? Well, hold on to your seat fo...
Prisoner’s Dilemma: It’s You or Me
Problem
Maggie and Lou are found at a crime scene. Given the physical evidence, they’re each looking at about one year in prison. However, the cops want more than that. They take ...
Introduction to Behavioral Economics: Acting Irrationally
Have You Ever?
Picture yourself at the mall. When you go shopping for clothes or electronics, how do you make the choices that you make? What’s influenced you to make these decisi...
World Bank: The Purse Strings of Global Development
Introduction
Currently, about 10 percent of the global population lives in extreme poverty. This is approximately 700 million people living on less than $1.90 per day. To put this...
The Federal Reserve and Interest Rates
Have You Ever?
You’ve heard it before on the news: “The Federal Reserve lowers interest rates to 0.50 percent” or “The Federal Reserve raises interest rates to 3.0 percent”. All t...
The Role of the Federal Reserve: What is the Fed?
Have You Ever?
Have you ever thought to yourself, “Where does money come from?”, “Who produces it?”, and most importantly, “Who the heck controls it?” These are questions that mos...
Supply and Demand: I Want It, I Got It
Have You Ever?
Have you ever wondered about how companies decide on prices for their products? Well, if you’ve ever gone into a dollar store or a discount party shop, you have pro...
Tragedy of the Commons: All I Want is Everything
Background
Picture this: It’s the 1950s. There are very few regulations in place regarding the hunting of wild animals - it’s a free-for-all. You are a hunter in Kenya, seeking to...