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

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This weblog offers a variety of song lyrics that instructors of economics may find useful in teaching economics. Each post includes a selection from the song's lyrics and a brief assignment for students. This site has been accepted for publication in the Journal of Economic Education.

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My Summer Vacation - Ice Cube

JEL: k l     

Damn G, the spot's gettin hot
So how the f*** am I supposed to make a knot?
Police looking at n***** through a microscope
In L.A. everybody and they momma sell dope
They trying to stop it
So what the f*** can I do to make a profit?
Catch a flight to St. Louis
That's cool, cause nobody knew us

Click to Listen

Assignment:

In “My Summer Vacation,” Ice Cube describes selling drugs in St. Louis. Why were financial profits so much higher in St. Louis in the short-run than in Los Angeles? What happened to the profitability (loosely defined) of this activity in the long-run? Does the illegality of the market change anything about the incentives to enter and the required profit rates needed to stay in business?

By: Joshua Hall
03.20.07 · Permalink
Keywords: · · · ·

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