📈 Principles of Economics

This podcast is an interview discussing N. Gregory Mankiw's "Principles of Economics," focusing on core economic principles and their real-world applications. The discussion covers ten key principles, including trade-offs, opportunity costs, comparative advantage, market forces (supply and demand, elasticity), market failures (externalities, market power), market structures (perfect competition to monopolies), labor markets (marginal product of labor), international trade (tariffs, quotas), and the role of government intervention. Specific examples like the "guns versus butter" trade-off and the impact of heat waves on ice cream prices illustrate key concepts. The podcast concludes by connecting these principles to personal finance and investment strategies, encouraging listeners to apply economic thinking to their daily lives.