An explanation of the causes of market failure and possible governmental responses to such failure.

A scholarly paper written for the Federal Reserve Bank of St. Louis Review looks at the causes of bank failures in the Great Depression, and how these failure rates were reflected across the country. Very detailed. [pdf]

Read about the three main types of market-oriented regulation, including pollution charges, marketable permits, and better-defined property rights

One of the things economists do is to study the relationship between the supply of products being sold on the market, the demand for products by consumers, and the price of products. They look at how price is determined by the...

Pollution is an example of a negative externality. Despite the gradual reduction in emissions from fossil fuels, many important environmental issues remain. Along with the still-high levels of air and water pollution, other issues...

Financial crises have happened before, and - if history is any guide - they will happen again. One year after the subprime mortgage crisis, this Baker Library Historical Collections exhibit documents four major crises that occurred in an...

Read about the creeping descent into depression in the United States upon the crash of the stock market. Find out how the economy collapsed, and how that affected employment and the lives of millions.

Economic concepts are often found in places students have never considered, like children's literature. In this lesson, students will explore the various economic concepts addressed in five of Dr. Seuss' most popular books: The Cat in...

This video teaches the concept of Income Distribution. Income distribution refers to how the total income earned ends up divided over members of the economy. The website contains an interactive quiz and links for related lesson plans.

This site examines how society can benefit by producing and consuming more of a product that causes a positive externality.

This video teaches the concept of Roles of Government. Some roles of government include protecting the environment, helping the poor and providing national defense. The website contains an interactive quiz and links for related lesson...

Actions taken by Franklin D. Roosevelt upon becoming president in 1933. Read about how he took immediate steps to restore confidence in the banking segment of the American economy.

Read a brief overview of the causes of the Great Depression. See that there were several reasons which fed on each other to plunge the country into economic chaos.

An overview of the Great Depression and its causes.

Not everybody who benefits from a public good contributes to its creation or maintenance. Learn about free riders.

Command-And-Control Regulation: The simplest kind of regulation is to just tell people what to do. This has downsides, though.

This article deals with global warming and its possible consequences on climate and terrestrial ecosystems.

Let's look at some real examples of public goods.

Unfortunately, it's not possible for a country to maximize both its environmental protection and its economic output. Each country must make a decision about how the two goals should be balanced and how to achieve that balance.

Read about specific examples of environmental laws in the United States.

Innovation often benefits many people, not just the person or company that innovated.

When you teach somebody, they and society both benefit from training and education. What's in it for you?