Plain Sense Economics

In another post we talk about the concept of price elasticity – which measures how responsive consumer demand is to a change in price. The general elasticity approach can apply to supply (reaction of suppliers to a change in market price) and income (change in demand as a reaction to a change in consumer income).
Another [...]

Gregory Mankiw wrote in The New York Times about how to capture the (underwhelming in numbers) economists’ vote. Take a look at the issues he presents and then see if you agree. Use simple demand and supply curves to describe the market and then draw your own conclusions.
Here’s an example: Mankiw argues that most economists [...]