Category Archives: Economics

DUAL Economics Module 2: Markets, Consumers & Producers

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(go back to Modules list) Objectives: Define markets, scarcity, and economic systems Describe the “Law of Demand” and the “Law of Supply” Introduce the concept of market equilibrium  Reading For This Module: From “Introducing Economics through a Collection of Free … Continue reading

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DUAL Economics Module 1: Value and Marginal Analysis

Return to Modules Objectives: Utilize the Water/Diamond Paradox to understand what determines value Introduce “thinking on the margin” and its role in economics Define the “labor theory of value” and critically examine its pitfalls Apply cost-benefit or marginal analysis to … Continue reading

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