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About this site
Throughout your entire life and in nearly every circumstance, you will experience economics. Economics is a perspective. It's a way of looking at things. It's a science that allows us to make some very interesting conclusions and have some very interesting discussions. I created this site to allow you the opportunity to discover and discuss these ideas in intuitive ways through real world stories. You've probably read about so many economic concepts in the Wall Street Journal and now you have this site to provide the introductory economic intuition behind those newspaper stories.
This site is about learning (both me and you) and it's about discussion. I encourage you to leave questions and comments. I also recommend you subscribe to my RSS feed so that you can be notified instantly when a new post is up.
Also feel free me to email me with questions or comments at eliot@economicsofrealworld.com
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benefit benefits bounded rationality cost costs currency definition demand equilibrium games game theory gold gold standard Gordon Gekko investing investment investments Jeremy Bentham John Isner John Nash Laffer Curve marginal utility money Nash equilibrium Nicolas Mahut opportunity cost optimal optimality profit maximization rational rationality stock stock price stocks strategic games strategy supply tennis United States US dollar util utilitarianism utility utils WallstreetBlogroll
demand Archive
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Supply and Demand: Part 2
Posted on June 15, 2011 | 1 CommentRight off the bat I will say that this post won’t really provide you much insight into the intuitive concepts of economics. I’m not really intending it to be that sort of post. I mentioned at the end of the first part of my Supply... -
Supply and Demand
Posted on May 26, 2011 | 1 CommentIt’s come the time, inevitable though it was, to talk about the concept nearly everyone recognizes to some degree when asked about economics. It’s the bread and butter, really. In my experience, using explicitly a supply and demand curve for analysis is actually rather rare....