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These are the best new articles, videos, podcasts, and other resources we have found to teach price floors and ceilings. They bring economics to life by showing students real-life examples and current events.
 

News Articles

(Listed from most recent to oldest)


Cuba slashes size of daily bread ration as ingredients run thin | Reuters (Sept. 16, 2024)
The centrally-planned Cuban economy is struggling to provide staples, and recently reduced the size of bread rations by 25%. The island’s ingredient shortages are a classic example of the effects of price controls.

Harris’ plan to stop price gouging could create more problems than it solves | CNN Business (Aug. 16, 2024)
VP Kamala Harris announced her plan to ban grocery price gouging nationally. This article guides students to consider the costs, benefits, and possible unintended consequences of her proposal, noting that full details have yet to be released.

Political party in Germany wants a kebab price cap | Morning Brew (May 9, 2024)
Inflation has hit doner street kebabs, which have gone from $4 to $11. Now, the German Die Linke party wants to place a $5.30 price cap on the sandwich and subsidize the popular street food.

The Contractual Origins of High-Rent Urban Blight | Marginal Revolution (Jan. 24, 2024)
Can commercial mortgage requirements for minimum leasing price explain empty Manhattan storefronts?

Chipotle will pass on the California minimum wage hike to customers | Quartz (Oct. 27, 2023)
California’s minimum wage hike is raising the price of your burrito.

Economic team shocked by rice price cap-Diokno | Philstar.com
The finance team was not consulted when the Marcos administration implemented a price cap on rice in the Philippines.

Europe’s airlines clash with Italian premier over planned fare cap | Financial Times (Aug. 15, 2023)
The Italian government wants to cap prices on airfare from mainland Italy to Sicily and Sardinia, but the plan may run afoul of EU law. Did you know? Teachers can get free access to the Financial Times by registering at www.ft.com/schoolsarefree.

How Scotland cut alcohol-related deaths by 13% in less than three years | Quartz (March 21, 2023)
A comparison of alcohol-related death rates in Scotland and England suggests that Scotland’s minimum alcohol pricing has saved 156 lives per year.

Minnesota had set a price floor for dairy products. A new bill could remove it | Star Tribune (March 14, 2023)
Minnesota grocery stores can only run below-cost discounts on milk in June, National Dairy Month. A state legislator has filed to repeal the price floor law. But is demand for milk inelastic? At least one dairy policy expert thinks so.

Sri Lanka’s new price controls on eggs could lead to shortages: poultry association | Economy Next (August 20, 2022)
What happens when you adopt a price ceiling on eggs? This article also discusses how the egg market in Sri Lanka was affected by the country’s forex shortage, increased demand for poultry products, reduced supply due to farmers exiting the market, and more. Pairs well with our video on price controls that also features chicks.
Resource: Worksheet

Graphics

Nixon Gas Shortage Zoom Backgrounds | MRU
When you’re teaching price controls, might we suggest you pair it with our custom Zoom background commemorating Nixon’s infamous decision to freeze all prices on August 15, 1971? More econ nerdy Zoom backgrounds are here.

Videos

Price Ceilings | MRU
This video looks at the effects of Nixon’s wage and price controls in the 1970s.
Resource: Practice Questions

Rent Control in Mumbai | MRU
To renters, rent control is often seen as a very good thing. But cheap rents can actually cost a lot. Alex Tabarrok looks at the housing crisis in Mumbai.
Resource: Practice Questions

Great moments in unintended consequences (Vol. 9) | Reason
Looking for a quick video example? The first 45 seconds of this video gives a price ceiling example from 1585.

The Origin of Government Cheese | NPR
The government enacted a price floor on the price of milk that set a chain of wild events including cheese caves and Got Milk ads.

Podcasts

A mall divided | Planet Money Episode 562
A mall straddling county lines in California becomes an odd natural experiment when one county raises its minimum wage.

Additional Resources

Price Ceilings and Price Floors Unit Plan | MRU
Check out our 3 lesson unit on price controls packed with real-world examples and interactive practice resources for graphing price controls.

Price Ceilings Interactive Practice | MRU

Price Floors Interactive Practice | MRU

Multiple-Choice Questions | MRU

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