Valentine’s Day and Understanding the Price System

Valentine’s Day is coming up so here’s a reminder to get your loved one a present! Valentine’s is also a great time to teach your students about globalization, the signaling and incentive role of prices, and the power of the price system–all key aspects of Chapter 7 in our textbook Modern Principles of Economics. We have two superb videos to encourage understanding and discussion of the price system, I, Rose and A Price is a Signal Wrapped up in an Incentive (see below).

In addition, we have created a lesson plan with discussion prompts, exercises, practice questions, and pre- and post-class assignments. Finally, we provide supplementary resources such as additional data sources, relevant news articles and blog posts, and an episode of Planet Money. You can find all of this material in one convenient location here. Enjoy!


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