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== Example 1: Economic Insights into Politics ==

== Example 1: Economic Insights into Politics ==

Next Tuesday is Election Day, and this is a good time to see if we can apply insights from this court to understanding and predicting election outcomes.

Next Tuesday is Election Day, and this is a good time to see if we can apply insights from this course to understanding and predicting election outcomes.

Economics affects election outcomes in two ways.  First, many people vote based on how they are personally doing economically.  Voters who recently lost their job are more inclined to be angry about the incumbents (the politicians currently in power).  Those voters may choose not to vote for the incumbent, either by not voting at all or by voting for the opponent.  Some economists feel that the outcome of every presidential election can be predicted by looking at key economic indicators (such as unemployment) on Election Day.

Economics affects election outcomes in two ways.  First, many people vote based on how they are personally doing economically.  Voters who recently lost their job are more inclined to be angry about the incumbents (the politicians currently in power).  Those voters may choose not to vote for the incumbent, either by not voting at all or by voting for the opponent.  Some economists feel that the outcome of every presidential election can be predicted by looking at key economic indicators (such as unemployment) on Election Day.

From this simple observation about the differences in funding, several conclusions can be drawn:

From this simple observation about the differences in funding, several conclusions can be drawn:

#McCain would have done better if he declined the federal funding and raised more money on the internet.  It's impossible to know how much better.

#McCain would have done better if he declined the federal funding and raised more money on the internet.  It's impossible to know how much better his results could have been.

#Freedom is not free.  People who want their side to win have to support their side financially.

#Freedom is not free.  People who want their side to win have to support their side financially.

#It may be more effective to send a $50 donation to a candidate's campaign than to volunteer to work for him for a day.  For McCain, $50 translated into about 10 votes.  Can someone volunteering for a day obtain 10 votes?  Perhaps, but only if the time is used efficiently, as in going door to door or making many effective phone calls.

#It may be more effective to send a $50 donation to a candidate's campaign than to volunteer to work for him for a day.  For McCain, $50 translated into about 10 votes.  Can someone volunteering for a day obtain 10 votes?  Perhaps, but only if the time is used efficiently, as in going door to door or making many effective phone calls.

The political process in the United States is based on competition just like the free market.  Typically the political winner, as in the free market, is the candidate who runs the most efficient campaign and who raises the most money for that campaign from supporters.

The political process in the United States is based on competition, just like the free market.  Typically the political winner, as in the free market, is the candidate who runs the most ''efficient'' campaign and who raises the most money for that campaign from supporters.  Efficiency and capital are the keys to both economic and political success.

==Example 2: Homeschool Dinner Event==

==Example 2: Homeschool Dinner Event==