Using a Structured Minimum Wage Debate in the Economics Classroom

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Presentation transcript:

Using a Structured Minimum Wage Debate in the Economics Classroom What are the economic costs and benefits of a higher minimum wage?

Visual 1: Supply and Demand

Visual 2: Historical Minimum Wage Data SOURCE: Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (FRED); https://fred.stlouisfed.org/graph/?g=m2cm.

Visual 3: Map of State Minimum Wages SOURCE: Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (GeoFRED); http://geof.red/m/bQX.

Visual 4: Unemployment Rates and Earnings by Educational Attainment SOURCE: Bureau of Labor Statistics; https://www.bls.gov/emp/chart-unemployment-earnings-education.htm.

Visual 5: Classroom Layout