Lecture Objective: Introduce students to the price system - how markets connect to one another and form a sophisticated global network that is constantly adjusting based on price signals. We use a Valentine’s Day analogy to illustrate key points.
The lesson incorporates a few MRU videos from our Principles of Microeconomics video course. We also mix in discussion prompts, exercises, practice questions, and pre- and post-class assignments. Finally, we provide supplementary resources such as additional data sources, relevant news articles and blog posts, and an episode of Planet Money.
The lecture can be paired with any intro textbook, but is based on a chapter from Modern Principles of Economics by Tyler Cowen and Alex Tabarrok.
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Great post, thanks.