Random Variables and Probability Distributions


     Estimating Probabilities Using the Normal Distributions


     Using the Normal Distribution to Locate the Stochastic Variable


     Estimating Probabilities Using the t-Distribution


     Determining From Which Distribution an Observation Likely Came


     The Central Limit Theorem


Confidence Intervals for Observations


     Confidence Intervals for Means


     Confidence Intervals for Proportions


     Confidence Intervals for a Difference in Means


     Confidence Intervals for a Difference in Proportions


Hypothesis Tests


     Hypothesis Test for a Mean


     Hypothesis Test for a Proportion


     Hypothesis Test for a Variance


     Hypothesis Test for a Difference in Means


     Hypothesis Test for a Difference in Proportions




Microeconomic Theory


Supply and Demand in Overview


         Supply and Demand in Detail: Complements and Substitutes




         Market Dynamics




                Price elasticity


                Income elasticity


                Cross elasticity


Consumer Choice


         Optimal Consumption Combination


         Indifference and Utility


         Budget Constraint


         Deriving Demand


Producer Choice


         The Stages of Production


         Total, Average, and Marginal Product


         Short Run and Long Run Costs


         Total, Variable, Fixed, Average, and Marginal Costs


         Profit Maximization Output


         Optimal Input Combination


         Producer Choice for Price Setters and Price Takers


Industry Structure: Competition to Monopoly


         Market Demand versus Firm Demand


         Pricing for Price Takers versus Price Setters


         Price Discrimination


         What Are Natural and Artificial Monopolies?


                Monopoly: Profit Maximization and Efficiency


         What is Perfect Competition?


                Perfect Competition: Profit Maximization and Efficiency


         What Are Oligopolies and Cartels?


                Oligopoly: Profit Maximization Efficiency


         What Is Monopolistic Competition?


Consumer and Producer Surplus


         Taxes and Markets


         Price Controls


         The Minimum Wage




Public Goods and Common Resources


         Banning Smoking


         Tragedy of the Commons


         Tragedy of the Commons Experiment




         Externalities: Marginal Social Benefit and Marginal Social Cost




Macroeconomic Topics


  What happens when we tax corporations?


   Taxes and Incentives


   Historical Tax Rates versus Historical Tax Revenue


   Average Tax Rates versus Marginal Tax Rates


   Taxes, Welfare, and the Poverty Trap


   Who Pays the Most Taxes?


   Taxes and Transfers


   What is Government Good For?




Policy Topics


   Raising the Minimum Wage


   Role of Government Debate (FEE)


   Minimum Wage Debate (RealNews)


   Bank Bailouts, Social Security, and National Debt (The BlazeTV)


   The Economics of Zombies


   The Case for Tax Simplification


   America’s Economic Outlook (The BlazeTV)


   Rage Against the Wage (Al Jazeera)


   Budget Deficit to Drop? (The BlazeTV)


   Government Now the Biggest Lender (The BlazeTV)


   The Failure of Progressive Economics (The BlazeTV)


   Kosmos Interview


   What’s So Great About Economic Freedom?


   Working With Big Government (The BlazeTV)


   The Trillion Dollar Coin (The BlazeTV)


   Why Cut Spending?


   Why Not Raise Taxes?


   Will Raising Taxes Balance the Budget?


   Defining Personhood (Huff Post Live)


   What Can We Cut to Balance the Budget?


   Does Stimulus Spending Work 2?


   Would Taxing the Rich Fix the Deficit?


   The Student Loan Crisis


   Are Low Interest Rates Good?


   Social Security versus Private Retirement


   Does Government Have a Revenue or a Spending Problem?


   Will Higher Tax Rates Balance the Budget?


   Does the Minimum Wage Hurt Workers?


   Why Not Print More Money?


   Robbing the Future with Budget Deficits


   Funding Government by the Minute


   What if the Federal Debt Were Yours?


   If Government Ordered Your Lunch, What Would You Get?


   What Are the Dangers of Too Much Debt?


   Does Government Spending Create Economic Growth?


   How Big is the US Debt?


   Does Stimulus Spending Work 1?


   Liberalism, Conservatism, and Freedom


   Unintended Consequences of Price Controls


   Markets: Exploitation or Empowerment?


   Social Security versus Private Accounts


   The Economics of Higher Education (House of Representatives)


   The Economics of High-Skilled Immigration (House of Representatives)


   The Impact of Immigration on Jobs and Income


   What Does the Rising Cost of Health Care Buy Us?


   Can We Balance the Budget by Raising Taxes?


   How Many People Are Uninsured?


   Is Social Security Bankrupt?


   The Laws of Economics


   Kosmos Interview


   The Budget Shortfall (NightTalk PCNC)


   Testimony on Alcohol Privatization


   The Tragedy of the Commons (set to dance)





   Taxes, Deficits, Debt, and Gimmicks (accompanying slides)


   What Are Tax Gimmicks?


   How Much Debt is Too Much (The American Entrepreneur)


   The Government Shutdown (The Think Tank, WWL New Orleans)


   The Budget Deficit and Federal Debt (Late Nights with Jim Bohannon)


   The One Question Everyone’s Afraid to Ask (The American Entrepreneur)


   Privatizing Alcohol Sales in the States


   Stimulus Spending Doesn’t Work (Wisconsin Public Radio)


   Trade Improves Wages and Reduces Unemployment


   Questions About the Estate Tax


   The Estate Tax Hurts Small Business


   The Value of a College Degree Rises Faster than Tuition


   High Skilled Immigration is Good for the Economy


   Raising Taxes Won’t Balance State Budgets


   More Trade Means Less Poverty (House of Representatives)


   All Countries Benefit From Globalization (House of Representatives)


   An MBA is Worth Around $500,000