Measures of central tendency, illustrated

Minimum wage, illustrated

Creative destruction, illustrated

More here.

Grad school, illustrated

Tongue-in-cheek first lesson in econometrics (plus addendum):

http://www.uibk.ac.at/econometrics/lit/siegfried_jpe_70.pdf
http://www.latrobe.edu.au/__data/assets/pdf_file/0004/251869/2013.02.pdf

Variance, illustrated

Source: "There has been an increase in the mean body-mass index since the 19th century but even more strikingly there has been an increase in the variance, what we might call an increase in weight inequality."

Negative externalities, illustrated

Earth orbit debris: an economic model

Space debris, an externality generated by expended launch vehicles and damaged satellites, reduces the expected value of space activities by increasing the probability of damaging existing satellites or other space vehicles. Unlike terrestrial pollution, debris created in the production process interacts with firms' final products, and is, moreover, self-propagating. Collisions between debris or extant satellites creates additional debris. We construct an economic model to explore private incentives to launch satellites and to mitigate space debris. The model predicts that, relative to the social optimum, firms launch too many satellites and under-invest in debris mitigation technologies. We discuss remediation strategies and policies, and calculate a socially optimal Pigovian tax.

Globalization, illustrated

Source: