Tradeoffs are one topic you can use this video for. With only $3 to his name, Chris needs to decide between a gallon of gas or a 6-pack of beer!
I heard this one on the radio and forgot that I used it one semester online to talk about structural unemployment. This could also be a good song to play before class if you play music before you begin your lecture. I may be a bit more fortunate since I teach in Pennsylvania.
Jane decides to help Tarzan increase is human capital by learning some new “human” skills. After learning these various skills, Tarzan should be much more productive.
Thanks for the clip recommendation Courtney Conrad!
The song is about a guy that chose to go fishing instead of staying with his wife. It shows opportunity costs because he could either choose fishing where he didn’t know if he would catch anything or stay with his wife which could have been the best thing for him.
Thanks for the summary and the clip Aaron Wolfe! If you’d like to see more country music videos that have economic themes, check out Econ Gone Country.
If you had a million dollars, what would you buy? A bunch of normal goods most likely or you may decrease the number of inferior goods. Ask you students to list off the things they would do with a million dollars and then have them identify whether the things they would change are normal or inferior goods.
Time to teach normal goods? Based on Biggy’s hit song Mo Money Mo Problems, problems seem to be a normal good.
Aaron Tippin sings about the hard working lifestyle of a blue-collar worker who works 8 hours per day. While others may have more money than he does, he did it the way he felt was right by not selling his values.
If you love country music and economics, check out EconGoneCountry.com
The great debate between Keynes and Hayek in rap form!
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.”