Price Theory Palooza
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Price Theory Palooza is a place that celebrates price theory and the economic way of thinking by sharing puzzles and problems.
Economics is much more than price theory, but it certainly is not less. Often the highlight of my day is when a student or a group-chat friend sends me a question that can be answered with price theory, and I get to exercise those fundamental muscles.
I grew up doing the newspaper Sudoku; I’ve played the daily Wordle off and on for a handful of years now. Then I said to myself, “Self, why isn’t there someone delivering me a new Price Theory Puzzle, at least once a week?
So I made Price Theory Palooza to do just that. It’s for me, really, but I know my preferences are not that idiosyncratic, so it’s for you too.
Disclaimer: It’s certainly not my intent or desire to draw a firm boundary around what counts as price theory. And it’s very possible Price Theory Palooza expands to other educational endeavors. Let me know how we can improve!
Check out a few puzzles already released, more info at the About page, and a static archive.
And for this week’s puzzle:
PTP #7
Suppose you were in a country where the charging of interest was prohibited by law. How could you tell whether the present price of future goods changed? What kind of evidence would you look for?
Source: ‘Walter E. Williams, “Economics 811 Questions,” George Mason University, http://walterewilliams.com/courses/811questions