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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 'Utility'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... GlamorousThe singer in the song enjoys the glamorous life of expensive things, however she still likes going to Taco Bell. Does this imply that Taco Bell is not an inferior good for Fergie? What about for the average wealthy person.... The FearIn "The Fear," Lily Allen sings about a young woman who lives in a trailer but dreams about living with unlimited resources in a large estate. The narrator's utility for some costly but tangible goods (such as clothes and diamonds)... Can't Buy Me LoveDoes money have any intrinsic value? What are the functions of money? How does demand for money affect its supply? How do you think the supply of money versus the supply of diamonds has changed since the since the Beatles... 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... Master of PuppetsBased off of the James Hetfield lyrics in the song Master Of Puppets, describe why someone would continue to engage in behavior that is self-damaging, expensive, and time consuming. What effect does past consumption have in an addictive setting? How... Shitload of MoneyLiz Phair claims, if given the chance, individuals would wish for money. Why might money be the best gift one can give (hint)? If individuals can maximize utility with respect to income better than anyone else acting on his/her behalf,... SatisfactionMick Jagger dropped out of the London School of Economics to pursue a career with the Rolling Stones. His decision to quit proves that he learned something about opportunity cost! However, in the song he is never satisfied which is... 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?... Hole In The BucketIn 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.... I'd Do Anything For Love (But I Won't Do That)The principle of substitution says that a consumer is willing to give up some of one good to get more of another good. This principle is implicit in indifference curve analysis since the indifference curve represents this trade-off of one... StuffHow much is enough? This is the question that Diamond Rio asks in Stuff. The singer keeps buying and does not get very much additional utility from the new purchases. What economic theory can be used to explain this?... Feed SubscriptionIf you use an RSS reader, you can subscribe to a feed of all future entries tagged 'Utility'. [What is this?] |
