ECON 378: Statistics for Economists

Explore how elasticity of demand impacts gains from trade in economies. Understand the relationship between demand elasticity and benefits for consumers and producers. Debunk misconceptions about inelastic demand and trade gains.

Grasp the distinction between nominal and real exchange rates, using the yen and dollar as examples. Learn how these rates influence purchasing power in different economies. Understand their implications in the global trade landscape.

Explore the dynamics of frictional unemployment in a constantly changing economy. Learn about government roles and strategies in mitigating its impacts. Understand how workforce transitions can be made smoother with informed interventions.

Explore the fundamental concept of the circular-flow diagram in economics, which simplifies the intricate interactions between households and firms. Includes examples illustrating how money, labor, and services flow between these economic actors.

Discover the pivotal role of assumptions in economics as we navigate the challenges of studying intricate market behaviors and human actions. Unveil how these simplifications foster comprehensive economic analyses and predictions.

Explore economics with a focus on scarcity, supply and demand, and elasticity. Gain practical insights into decision-making and economic principles that impact our world.