Unexpected Economics

Course Description
Utilize economic thinking to illuminate a wide range of topics not typically considered economic in nature—from how we choose a mate to why we vote the way we do. Discover how incentives, choices, tradeoffs, and human behavior connect economics to everyday life.

What You’ll Learn in the Course

• How economics explains ordinary and extraordinary choices in life.

• The hidden incentives behind crime, marriage, religion, politics, and more.

• Behavioral economics insights on fairness, risk, addiction, and happiness.

• Real-world applications of economic thinking to health, disasters, and social trends.

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Lessons

01: The World of Choices (32 min)
Explore economics as the study of choices in all areas of life, their consequences, and the wide scope of the decision-making realm.

02: A Market for Pregnancy (28 min)
Examine how cultural acceptance shapes markets once forbidden, such as interest payments, life insurance, and surrogacy.

03: Selling a Kidney (32 min)
Investigate the controversy around organ markets and weigh the costs and benefits of buying and selling human organs.

04: Traffic Congestion—Costs, Pricing, and You (28 min)
See how economic analysis explains traffic jams and how London’s “congestion pricing” policy tackled them.

05: Two-Way Ties between Religion and Economics (31 min)
Learn how religious practices and institutions affect economies, from Adam Smith’s insights to modern impacts.

06: Prediction Markets—Windows on the Future (29 min)
Discover how betting on future events—like elections or product success—provides surprising insights into probabilities.

07: Pathways for Crime and Crime Fighting (30 min)
Understand crime through the lens of incentives and tradeoffs, applying economic thinking to both criminals and law enforcement.

08: Terrorism as an Occupational Choice (32 min)
Explore what economic analysis reveals about poverty, education, and the incentives behind terrorism.

09: Marriage as a Search Market (31 min)
Analyze marriage as a marketplace, examining how social forces shape mate selection and long-term commitment.

10: Procreation and Parenthood (28 min)
Trace childbearing patterns from Malthus to modern theories viewing children as “luxury goods.”

11: Small Choices and Racial Discrimination (32 min)
Study economic perspectives on racial discrimination and policies aimed at equality.

12: Cooperation and the Prisoner’s Dilemma (27 min)
See how competition and cooperation intertwine in markets, using the classic game theory model.

13: Fairness and the Ultimatum Game (30 min)
Explore laboratory economics through games that reveal how fairness and trust shape markets.

14: Myopic Preferences and Behavioral Economics (30 min)
Learn how short-term thinking influences health, finance, and daily decisions.

15: Altruism, Charity, and Gifts (32 min)
Question whether charity is truly altruistic and examine mismatches between giver and recipient value.

16: Loss Aversion and Reference Point Bias (29 min)
See how framing affects decisions through behavioral concepts like loss aversion and “nudges.”

17: Risk and Uncertainty (32 min)
Examine risk tolerance—neutral, seeking, or averse—and its influence on finance and policy.

18: Human Herds and Information Cascades (30 min)
Understand herd behavior, information cascades, and their dangers in decision-making.

19: Addiction and Choice (30 min)
Evaluate addiction as an economic choice, analyzed through incentives and tradeoffs.

20: Obesity—Who Bears the Costs? (32 min)
Study the economic causes and public policy implications of rising obesity rates.

21: The Economics of Natural Disasters (30 min)
Learn how preparation and investment decisions impact disaster outcomes.

22: Sports Lessons—Pay, Performance, Tournaments (30 min)
Apply economic insights from sports to talent, incentives, and competition.

23: Voting, Money, and Politics (31 min)
Analyze voting behavior through costs, incentives, money, and special interests.

24: The Pursuit of Happiness (34 min)
Conclude with how economists define and measure happiness, and how it shapes decision-making.