Religion & Liberty Online Archives

Intro to Economics

December 13, 2016

What you should know about subsidies

Note: This is post #13 in a weekly video series on basic microeconomics. What is a subsidy? A subsidy is really just a negative or reverse tax, explains Alex Tabarrok. Instead of collecting money in the form of a tax, the government gives money to consumer or producers. Continue Reading...
December 06, 2016

Understanding tax revenue and deadweight loss

Note: This is post #12 in a weekly video series on basic microeconomics. Why do taxes exist? What are their effects? In this video by Marginal Revolution University, economist Alex Tabarrok explains how taxes affect consumer surplus and producer surplus. Continue Reading...
November 29, 2016

Who pays the tax?

Note: This is the eleventh post in a weekly video series on basic microeconomics. Who bears the burden of a tax, the buyer or the seller? Or what about the health insurance mandate in Obamacare—does the employer or the worker pay the tax? Continue Reading...
November 15, 2016

Understanding commodity taxes

Note: This is the tenth post in a weekly video series on basic microeconomics. In this video Tyler Cowen covers commodity taxes, including who pays the tax and lost gains from trade, also called deadweight loss. Continue Reading...
November 01, 2016

Understanding elasticity of Demand

Note: This is the eighth post in a weekly video series on basic microeconomics. Prices can have an effect on the demand of goods and services. But how much does quantity demanded change when prices changes? Continue Reading...
October 25, 2016

Does the equilibrium model work in the real world?

Note: This is the seventh post in a weekly video series on basic microeconomics. In previous videos in this series from Marginal Revolution University we learned how prices reach equilibrium and how the market works like an invisible hand coordinating economic activity. Continue Reading...
October 18, 2016

How to read a supply curve

Note: This is the sixth post in a weekly video series on basic microeconomics. Last week we took a deeper look into the demand curve, examining how to read the demand curve, how demand curves shift, and consumer surplus. Continue Reading...
October 11, 2016

How to read a demand curve

Note: This is the fifth post in a weekly video series on basic microeconomics. In a previous post we looked at how to understand the demand curve. In this video, we take a closer look by examining how to read the demand curve, how demand curves shift, and consumer surplus. Continue Reading...