I use this as a follow up exercise:
|Group activity: Market Applications Assignment, December 2022 and complete this Market Applications Form|
|Instructor resource: Market Applications Solutions, December 2022|
This topic is all about how market exchange generates prices, which can be used for information purposes. Some of my favourite examples of using price data to tell a story are the two charts below:
Here’s an excellent video on the role of prices:
A good resource on price gouging is Mike Munger’s interview with Russ Roberts, on EconTalk (Jan 8th, 2007).