From ABBA to Led Zeppelin: using music to teach economics
From ABBA to Led Zeppelin: using music to teach economics

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Beverly Hills - Weezer

JEL: a d r   

Where I come from isn't all that great
My automobile is a piece of crap
My fashion sense is a little whack
And my friends are just as screwy as me
I didn't go to boarding schools
Preppie girls never looked at me
Why should they?
I ain't nobody
Got nothing in my pocket
Beverly Hills
That's where I want to be
Livin' in Beverly Hills
Beverly Hills
Rolling like a celebrity
Livin' in Beverly Hills

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Assignment:

Beverly Hills, and other affluent communities, are examples of rich enclaves (Forbes, 2005) with markedly higher property values than surrounding areas. What explains why some areas are affluent and other areas nearby are not as well to do? Use substitution and income effects to explain your answer.

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