Time Inconsistency: Today’s Actions, Tomorrow’s Regrets (Page One Economics Classroom Edition)
Classroom Edition (.pdf)
Have you ever bought something you really couldn’t afford? You simply swipe your credit card and leave the store with something shiny and new. That instant gratification overpowers any thought of the regret you’ll have when you must start paying off your accumulated debt. Economists call this phenomenon time inconsistency. Read the September 2011 issue for some ideas on how to prevent time inconsistency for yourself and your government.
Graphs compliments of FRED®.
Keep your students in the know on timely economic issues with the Page One Economics Classroom Edition. The Page One Economics Classroom Edition provides a simple, short overview of a current economic event. The Teacher’s Guide includes student questions and a teacher answer key, plus additional resources and lesson ideas for classroom, extra credit, or make-up assignments. You can subscribe via RSS feed or email.
Page One Economics was formerly the Liber8 Economic Information Newsletter.
Tags: 9-12, College, Data, Debt, Deficit, Economics, English, General Audience/Consumers, Lessons, Library, Moral Hazard, Newsletter, Page One Classroom, Personal Finance, Publications, Time Inconsistency, Too Big To Fail