In this episode of Econ Nerds Live, host Matt Hill and co-host Ariel Slonim welcome Jadrian Wooten from Monday Morning Economist (https://www.mondayeconomist.com/).
They start with a news quiz. Then talk about their favorite Monday Morning Economist posts:
Then the conversation also gets very nerdy with a discussion on confusing terminology used in Economics.
00:00 Introduction to Monday Morning Economist
02:27 News Quiz
18:39 Pop Culture Economics and Home Alone
20:09 Challenges in Adjusting Prices Over Time
24:10 Comparing Historical Prices: Time vs. CPI
28:10 The Alchian-Allen Effect Explained (why are you buying more expensive eggs?)
31:54 The Impact of Taylor Swift on Local Economies
38:13 Teaching Economics: Challenges and Insights
41:03 The Challenge of Economic Terminology
55:03 Consumer Surplus/ DWL: Transformers, home buying, Delta
Referenced in the podcast:
https://www.mondayeconomist.com/
Planet money on sugar prices: https://www.npr.org/sections/money/2013/04/26/179295426/episode-454-the-lollipop-war
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