Summary: The central bank of Ukraine has been working hard to maintain macroeconomic stability in face of extreme conditions. One of their jobs is maintaining a stable currency (hryvnia) as the expensive war wages on. We see how the exchange rate impacts a woman trying to supply crucial medicine to Ukrainians. Students get practice with exchange rate conversions in this setting.
Summary: The US will face a shortage of thousands of doctors in the next decade. This does not bode well for a growing and aging population. The Indicator explores how changes in funding for residency slots in the 1990s has been a driver of this problem. Our accompanying exercise applies simple supply and demand to this context.
Summary: Lithium-ion batteries have revolutionized the way we use and store energy. They are a key component in EVs and many of the devices and technologies we use every day. But battery fires, specifically on cargo ships transporting all of these items, are a growing risk. The Indicator speaks with an insurance professional as well as a fire expert on this this dangerous, high temperature “thermal runaway” situation. Students will think through how this risk affects the costs of production
California Ports were not prepared for the consumer purchasing patterns shift from the pandemic. Instead of vacations, families were buying a new refrigerator or couch. This unpredictable increase in demand combined with the ports’ fragile system caused a supply chain issue that is still affecting America today.
As we already know, the whole world is struggling to get items shipped to distributors because of supply chain issues. The Beergame App, created by logistics expert Mathais Le Scaon, uses the demand of cases of beer to demonstrate the bullwhip effect, where small fluctuations in demand at the retail level cause increasing larger fluctuations up the supply chain. After participating in the game, members of tPlanet Money’s indicator team find that fixing the supply chain is no simple task.
The Planet Money Indicator team explores the choices facing restaurants around the U.S. as the pandemic winter approaches. Includes an interview with a restaurant in Idaho that has implemented new strategies in the 2020 economic reality.
Assignment prompt: How does this podcast illustrate the short-run shutdown decision for firms? Use specific economic concepts from your reading and this podcast to explain the decision making process in general and specifically for firms in a crisis, such as the Covid-19 pandemic.
Summary: THE INDICATOR discusses the Trump administration trade policy thus far regarding the tariffs on solar panels and washing machines that were implemented during Obama’s administration. How much of an impact do tariffs actually make on a country’s economy, if they do at all?
Summary: Cities across the U.S. have been making efforts to increase the minimum wage, which would impact restaurant workers. However, this move results to unexpected side effects due to the higher costs that restaurants will have to face, leading them to cut back on some services. This story discusses how the effects on increasing the minimum wage ties with the hygiene of restaurants and suggests potential steps that the restaurants can take to minimize their health violations.
Summary: Self checkout has become a staple in grocery stores, but back in 1992 they were considered a laughing stock. Planet Money discusses self checkout with their creator, and considers what impact automation has on service and employment.
Summary: Love isn’t a word you would normally associate with Economics. Applying the principles of Economics to your relationships seems preposterous. But is it? Planet Money discusses how economics are beneficial to your love life and can help you save on the one cost of love: time.
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