Economics for Everyone: Teaching the World to Think Like an Economist

According to the TIAA Institute, American adults correctly answered just 49% of basic financial questions in 2024, suggesting a fundamental gap in economic literacy. In this episode Robert Shimer, Professor of Economics at the University of Chicago, and John List, Professor of Economics and Director of the Becker Friedman Institute, discuss Economics for Everyone, a groundbreaking program that teaches economic reasoning without the math. From classroom experiments that predict market equilibrium to 60 professional videos watched worldwide and teacher training programs across Chile, Colombia, and Saudi Arabia, they explore how economic thinking shapes everything from Instagram scrolling to tariff policy, and why critical thinking about causality versus correlation has never been more important.

00:00-3:52 Introduction & Origins of “Economics for Everyone”
How Professors John List and Robert Shimer created an accessible economics course at the University of Chicago for non-majors.

03:53-9:35 Teaching Economics Without the Math
How they explain big ideas—like markets, incentives, and policy—through stories, classroom experiments, and hands-on learning.

09:36-18:18 From Classroom to the World
Expanding “Economics for Everyone” through short videos, global outreach, and teaching materials for students and teachers worldwide.

18:18-47:20 Why Economics Matters for Everyone
How economic thinking shapes everyday life—from opportunity cost to markets, taxes, and policy—and why critical thinking is at its core.

47:20-1:05:31 What’s Next & Lightning Round
Future plans for the program, new books, AI-driven learning tools, and a fun rapid-fire Q&A to close out the show.

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🔗 Related Links
E4E Website: https://econ4everyone.uchicago.edu