Just in case you haven't already been inundated with ideas for using oil in teaching economics, there are a couple of blog postings you might want to consider.
For a micro-economic view that focuses on BP oil, check out this post on Aplia Econ Blog. Good fundamental analysis of how a supply shock impacts a market.
For a macro-economic view, see this post on the same site. It examines the repercussions of the price change on the larger economy. Again, good sound fundamentals.
I do wonder if the lack of comments indicates that we (as educators) are overusing this example. Your comments are welcome.
Posted by TSchilling at 5:22 PM Comments (0)