Jerry Seinfeld asks where we can we ever have enough comedy on tv? Is there a point where diminishing returns kicks in and people no longer want any more chuckles?
Cool Hand Luke — 50 Egg Challenge
In Cool Hand Luke, Petty criminal Luke Jackson (Paul Newman) is challenged to eat 50 eggs, but we can see the results of diminishing returns on the human body. Earlier in the film, they outline the rules of the game, but even with the help of some exercise and assistance chewing, Jackson barely makes it through the ordeal.
Bedazzled — No Such Thing as a Free Lunch
Elliot (Brendan Fraser) strikes a deal with the Devil (Elizabeth Hurley) in Bedazzled in order to gain the affection of a coworker. In this short clip, Elliot needs proof of the Devil’s power, so he asks for a Big Mac and a large coke. The two proceed to McDonalds, but Elliot ends up having to pay for it himself because there’s no such thing as a free lunch.
Team America — Freedom Isn’t Free (NSFW)
It’s sometimes hard to get across the idea of public services as being a type of public good, but “freedom” may be a simple enough concept for students. This clip from Team America takes a country-spin on why it’s important to pay for public services like freedom. It also can be used to teach the concept of opportunity cost since freedom for people today cost a lot of lives in the past.
The Bourne Identity — I Need a Ride
Jason Bourne, played by Matt Damon, asks a cash-strapped young woman (Franka Potente) for a lift while Conklin (Chris Cooper) musters all of his forces to find him. Both parties have something that the other one needs, so a mutually beneficial trade occurs. This clip really highlights the concept of double coincidence of wants.
Futurama — Fishful of Dollars
We can see economic concepts throughout the episode when Fish learns that he is rich because of a small savings account he opened 1000 years ago. Thanks to interest rates, his money has grown to billions. When Fish and his friends try to order a pizza, he finds out that anchovies no longer exist because of overfishing when humans arrived on the planet. Zoidberg notes that his people killed the anchovies because they always believed one more wouldn’t have an impact.
Bleacher Report — The Coach That Never Punts
At Pulaski Academy in Arkansas, Kevin Kelley’s team never punts because he opts for high risk decisions because the probabilities are in his favor. He doesn’t believe in taking the risk averse method and he also believes in focuses on his team’s comparative advantage instead of just doing the traditional method.
The Onion — Social Security Reform Bill (NSFW)
The Onion takes a satirical look at social security reform by proposing that Americans become riskier and try to die earlier so that there’s more money left in the system for those that survive. They also recommend increasing taxes on items that could save people.
The Simpsons — Free Rider
This clip presents a curious problem, class elections take place and one candidate is wildly more popular; however, the election doesn’t turn out the way one would expect. Ask your students what exactly is happening in this clip; and, if they’ve ever experienced it. This clip is good for teaching Free Riding as it pertains to voting and irrational voting.
Luccasen, R. Andrew, and M. Kathleen Thomas. “Simpsonomics: Teaching Economics Using Episodes of The Simpsons.” The Journal of Economic Education 41.2 (2010): 136-49. Print.
Find more at Adrian Fohr’s Critical Common’s page.
The Rolling Stones — You Can’t Always Get What You Want
I start every semester off using this as my last pre-class song. This Rolling Stones song is great for the opening chapter of most books that focus on “what is economics.”