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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 Entries
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Search ResultsEntries from From ABBA to Zeppelin, Led tagged with 'Opportunity cost'Should I Stay Or Should I Go?The Clash sings about the angst of decision making in their song “Shall I Stay or Should I Go?” Economic theory states that rational decision makers weigh the marginal benefit one receives from an option with its marginal cost, including... Money To BlowThis song makes it seem like all rappers have enough "money to blow". Using economic reasoning, explain whether you think Birdman is the exception or the average? What is the problem with only analyzing the lifestyles of rappers you see... Paperback WriterThe subject of the song states that he wants to be a paperback writer but he "needs a job." How would you classify his employment status? Is he unemployed? Actively seeking new work? Do you think self-employment creates a measurement... Tobacco IslandWhat was the economic advantage to engaging in slavery? Why did they choose to engage in economic ventures in Barbados rather than remaining in their home country, especially given the high start up costs (ship construction, supplies for the voyage,... Day JobIn "Day Job," Gin Blossoms lead singer Robin Wilson sings about the disillusionment that greets many college graduates, and wonders whether he should return to college and complete his degree. When might the marginal benefits of a greater possibility of... Pretty Girl From Cedar LaneThe narrator expresses his decision not to put the effort into trying to win the girl’s love because the more time he spends the less energy he has. How do the marginal benefits and the marginal costs of this effort... Career OpportunitiesIn the song, Clash lead singer Joe Strummer sings about job opportunities available and how he doesn’t want any of them. Does this mean he is unemployed? If so, what type of unemployment is it? What is the opportunity cost... ShipbuildingAfter reading the reading the lyrics describe the sacrifices (opportunity costs) of going to and preparing for war. [Provided by E. Frank Stephenson - Berry College]... Don't Go For The OneAccording to the song, what is Harvey's reservation price for an evening with his friend the narrator, as illustrated by his behavior? What are the opportunity costs of Harvey's activities? Why do people partake in what to outsiders seems like... A Man Needs A MaidMany rock stars like Neil Young get a maid. Why don’t they do their own cleaning and fix their own meals? If you were thinking about getting a maid what information would you need to make that decision? For example,... Unknown LegendAre motorcyclists that ride without helmets – with their long blonde hair flyin in the wind - rational? What are the costs and benefits of not wearing a motorcycle helmet? Thaler and Sunstein in their book Nudge (2008) suggest that... Money for NothingMark Knopfler claims that musicians get money for nothing. Do you agree with this statement? Can you get anything for nothing? What are the costs of being a musician? Make sure you discuss the opportunity costs. [Provided by Simon Medcalfe... I Want It AllThe lyrics above remind us that there is a lot to do in one short lifetime. Freddie Mercury, Queen’s lead singer, asserts that he wants it all and he wants it now. Do you prefer to consume goods in the... 20 DollarsThis 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... Some Days You Gotta DanceWhile most people think of jobs as good things, economists are more likely to think of them as "bads". After reading the lyrics to this song, can you see why?... Black Steel in the Hour of ChaosIn "Black Steel in the Hour of Chaos," Chuck D describes going to jail for refusing to report when drafted - otherwise known as conscription. Is conscription less costly from society's viewpoint than a volunteer draft? What role do opportunity... In the EndWhat is scarce in the song? Why is time often overlooked compared to the financial cost when making decisions? Can you relate time to elasticity? Is demand more elastic in the short-run or long-run?... Baby GirlThis country hit from 2005 highlights the risks associated with venturing out on your own. How credible are the promises of “fancy cars and diamond rings and all sorts of shiny things” when you are new in town? What would... Soak Up the SunNear the middle of the song Sheryl Crow sings, "I'm gonna soak up the sun while it's still free." Comment on the accuracy of this statement from an opportunity cost perspective. What are some of the contrasts mentioned in the... The Wacky World of Mass TransitA good economist, to paraphrase Bastiat, observes both the seen and the unseen. On its face, a bus ride costs only 80 cents. What costs are unseen? Illustrate with examples from the song.... Big Yellow TaxiBig Yellow Taxi was originally written and performed by Joni Mitchell but covered by many other artists such as Bob Dylan, Amy Grant, and the Counting Crows. What trade-offs can you find in the lyrics? Define opportunity cost and give... Feed SubscriptionIf you use an RSS reader, you can subscribe to a feed of all future entries tagged 'Opportunity cost'. [What is this?] |
