James Tierney shared this great clip on his website a few years ago and it covers the idea of using Project Runway to discuss specialization and gains from trade. One of the contestants describes the process of designing the outfit line and discusses each member’s role in the creation of the outcome.
Just Go With It: Negotiation Scene
Maggie (Bailee Madison) negotiates a deal with Danny (Adam Sandler) when he asks her to act like his daughter. This scene does a great job opening a discussion for consumer/producer surplus in a principles class (or economic rent in a labor class).
How to Make Everything: A $1500 Sandwich in Only 6 Months
This is a great clip to talk about opportunity costs and gains from trade. The author goes through the process of making an entire chicken sandwich from scratch. I often open lecture asking students how much it would cost them if they did it themselves and then we watch this video.
ABC News: Are Keys to a Happy Marriage in Your Wallet?
Author of “Spousonomics” says the secret is a life of economic analysis.
King of the Hill — The Best of US and Canada
Hank and Gordon get into a debate on the merits of each country. They go on to discuss different comparative advantages of their home countries. Both Canada and the United States likely have enough resources to produce all of the items they mention, but they benefit from trade when they specialize in their comparative advantage.