Think Like An Economist

Being unemployed can be very stressful, so what can economists do to help people back to work? Betsey Stevenson and Justin Wolfers discuss what it means to be jobless, and what to do if you're unlucky enough to lose your job.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

When an economy grows, we live better lives. Betsey Stevenson and Justin Wolfers show you how economic growth is fuelled by the mix of skilled workers, the right investments and new ideas. As one idea leads to another, innovation helps boost the economy and can make the world a better place. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We're diving into Macroeconomics with a look at Gross Domestic Product and how it counts everything in the economy - from output, to spending and the income earned. And Betsey Stevenson and Justin Wolfers also show you how even the great yardstick that is GDP ignores some vital elements of society.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Now we've learned the tools of microeconomics, it's time to step up to macro. Betsey Stevenson and Justin Wolfers are here to show you how millions of individual microeconomic decisions affect the macroeconomic world - and how macroeconomics gives decision makers the tools to make our lives better.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What happens when you know something that others don't? Or they know something you don't? These information asymmetries can great create a fog of mistrust, and doing business can get tricky. Betsey Stevenson and Justin Wolfers help clear the economic fog, and find ways to restore that trust.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media ProductionSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Discounts for the elderly or students may seem generous - but they win more customers. When businesses ask how they can make as much money as possible from each customer, they need a sophisticated pricing strategy. Betsey Stevenson and Justin Wolfers take a look at who gets a discount and why.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media ProductionSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What's the competition? When businesses have less competition, they have more market power and can raise their prices. Betsey Stevenson and Justin Wolfers explore competition in the market place and the way it shapes prices - and profit.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How hard is it to move out of poverty and up the economic ladder? Justin Wolfers and Betsey Stevenson explore how economic inequality is shaped by people's backgrounds and opportunities. And they look at the tools available for making a more equal society.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

America’s President-elect has made his choice for the new Secretary of the Treasury. Janet Yellen is an economist and friend of the Think Like an Economist team, Betsey Stevenson and Justin Wolfers. Before the election, Janet Yellen shared her thoughts on the power of thinking like an economist. And in this special episode, Justin reflects on what decisions Janet Yellen will be making.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. presidential election may be over, but what does the new president need to do to get the economy back on track and prepare for future shocks? In this special episode, Justin Wolfers has some economic advice for the new president. And of course, Betsey Stevenson will be back for the next episode.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What can you do to make sure you're working in the right job, and getting paid the right salary? Or, if you're the boss, how can you make sure you're making the right hiring decisions? Justin Wolfers and Betsey Stevenson show you how to make good decisions, as a worker or an employer.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What happens when others benefit from your choices, like your decision whether or not to wear a mask? Or when your choices hurt others, like smoking?  Economists Betsey Stevenson and Justin Wolfers delve into the world of externalities and explore how policy makers can help ensure effects on others are taken into account. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

When countries do something well, they can sell that in the global market place. But how do consumers and producers get the most out of international trade? Economists Betsey Stevenson and Justin Wolfers explain how people around the world can benefit from international trade. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Are you doing what you should be doing, and delegating tasks that others should do? Make sure you get the most out of your comparative advantage, as Betsey Stevenson and Justin Wolfers reveal how this economic tool helps run their household. They've written the economics textbook for the 21st century and want to share their love of economics with you.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

You know the joy of buying something that's worth more to you than what you paid? Or that jolt when you sell something for more than what it is worth to you? Leading economists Betsey Stevenson and Justin Wolfers reveal how to know whether our trades spark joy.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How does government affect the market? And how can a jar of coins help you understand how taxes affect buyers and sellers. Leading economists Justin Wolfers and Betsey Stevenson have written the economics textbook for the 21st century, and share their insight on how the economy is influenced by government.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media productionSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

When prices go up, buyers want less and sellers want more. But how much more? Economists Betsey Stevenson and Justin Wolfers discuss how responsive people are to price changes, and why.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Where Supply meets Demand. Markets are everywhere, but what happens when buyers and sellers get down to business? Leading economists Betsey Stevenson and Justin Wolfers reveal how markets find their equilibriumCo-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We're all suppliers. But how do we decide how much to sell? Economists and the authors of the 21st century textbook on economics, Betsey Stevenson and Justin Wolfers, steer us through the influences and decisions we face in business or in the home.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Do you need to buy that? Should you buy one more? Economists Betsey Stevenson and Justin Wolfers explain how you as a buyer can stay in control - and how to make the Law of Demand work for you.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Betsey and Justin help you figure out how to decide how much time to spend working versus looking after your family, when everyone needs more attention these days. Could the decisions you make now affect your career in the future?We’ll be back with a full episode on September 8th, when we’ll be looking at the decisions you make as a buyer - that foundation of the economy, Demand.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Betsey & Justin are getting ready for another year of teaching economics. And with all the recent challenges in the world, Betsey and Justin have some real-world advice for you - does investing in skills or education make sense right now?We'll be back on September 8th, looking at that old favourite - Demand. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Buying an extra cup of coffee means less money for a cup of tea. It also means less coffee for the next person, it will change the prices of milk and sugar and effect the countries which make the coffee beans for your cup of joe. Betsey Stevenson and Justin Wolfers teach us about how our decisions are interlinked, and how this can help you to make better decisions. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How many hours should you work? How many people should you hire? How many children should you have? Betsey Stevenson and Justin Wolfers teach us how to make decisions about ‘how many’ of pretty much anything and in any circumstance.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Making a pros-and-cons list when you’re stuck isn’t a bad piece of advice, it’s actually a staple of Thinking Like An Economist. Betsey Stevenson and Justin Wolfers walk us through thinking about the costs and benefits of every decision, and also warn of red flags that can lead us astray. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.