Tag: University Economics
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How Global Conflicts Impact Gas Prices in Canada and the US
Why would a war on the other side of the world raise oil and gas prices in countries, such as Canada and the United States, that are net exporters? The explanation is both simple and has profound implications for behaviour and for government policy.
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Understanding Market Shortages: Oil, Concert Tickets, and College Basketball
Economists often talk about how markets adjust to shocks with relative ease. Recent news offers three prominent examples of markets with excess demand: world oil and gas, reselling concert tickets, and college basketball. These examples are newsworthy for the same reason even if the “solutions” differ. Not everybody is happy with the “solutions” and that…
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The Girl Who Cried Pearls: A Hidden Economic Masterpiece
A previous post noted that many movies contain economic lessons. The purpose of this very short post is to encourage you to watch The Girl who Cried Pearls for many reasons. It won an Oscar for Animated Short Film last night, which adds to the NFB‘s long list of awards. I think that this story…
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Exploring New vs. Used Car Market Trends
The car market is evolving with increasing average vehicle ages and rising prices for new cars, now averaging about $50,000. Consumers are keeping cars longer, possibly due to costs, while the used car market shows different price trends. Dealers benefit from this shift, focusing on maintenance, but market dynamics remain complex.
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Trick or Treat: Lessons in Economics
Halloween is an odd event because it is so silly: people dress up in scary costumes and, for one night in the year, anybody who knocks on the door is given candy. This post notes six lessons involving economics, not including the incentive/threat implied by the phrase “Trick or Treat”.
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Surprising Insights and the 2025 Nobel Laureates in Economics
The 2025 Nobel Laureates in Economic Science are being recognized for their contributions to understanding the determinants of economic growth. Growth is generally seen as a good thing and the work being recognized was done more than 30 years ago. So, what was the surprising insight and, more importantly, what do others not understand about…
5 Basic Principles of Economics 