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 About UsThis 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.Recent EntriesRelevant Research and ResourcesSuggestions?
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"I" ArchivesCash Machine - Hard-FiJEL: e iI scratch a living, it ain't easy There's a hole in my pocket, my pocket, my pocket Full Lyrics · Click to ListenAssignment:This 2005 modern rock hit examines the circular nature of poverty. Recognize the ending? It is a variation of the well-known children’s song, “There’s a hole in my bucket, Dear Liza.” The ballad is especially poignant since if your money is draining out you can never get ahead! Using the most recent edition of the Statistical Abstract of the United States determine the personal savings rate. Why does a low savings rate matter? "I" ArchivesWhy Don't You Get a Job? - The OffspringJEL: a e i jHe works his hands to the bone I won't pay, I won't pay ya, no way Full Lyrics · Click to ListenAssignment:Researchers have questioned whether you can design a welfare system that provides a generous safety net, but not so generous that the effective marginal tax rate that the poor face when contemplating leaving welfare is too onerous. Explain why creating the right incentives to get productive people to leave welfare is so difficult. "I" Archives20 Dollars - Angie StoneJEL: a d h iCan you loan me 20 dollars Now I'm suppose to take from the child, oh Lord What do you do when you're through Full Lyrics · Click to ListenAssignment:This song places the listener in the uncomfortable position of questioning whether or not they should help someone who asks to borrow a small amount of money. This is what is referred to as the Samaritan’s dilemma. Why does the dilemma have important policy ramifications? What does the song say about the dependency created by charitable handouts? Finally, giving is not costless. What are some of the things that are foregone in order to help others? "I" ArchivesHole In The Bucket - SpearheadJEL: a iThe day is pickin' up cause I'm hummin' his song Full Lyrics · Click to ListenAssignment:In the basic theory of consumer demand, an individual tries to maximize their utility subject to their budget constraint. Increases in income or wealth thus allow individuals to move to a higher indifference curve and a higher level of utility. In the song, Spearhead wants to help the panhandler by increasing his budget constraint, but is concerned about what is in the man's utility function. How could Spearhead structure his giving so as to alleviate his concerns? Is an alternative form of giving likely to increase the panhandler's utility as much as cash? |