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 MRU's 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.
What is Marginal Revolution University (MRU)?
Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.
Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.