From ABBA to Led Zeppelin: using music to teach economics
From ABBA to Led Zeppelin: using music to teach economics
"Alternative Rock" Archives

Day Job - Gin Blossoms

JEL: d       

Has it been eleven years
Since I've stood here with my peers
And we started out to conquer doubt and Frisbee

I should've been a whole lot father
I'm never going back to college
For just one good day job

Full Lyrics · Click to Listen

Assignment:

In "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 graduating and finding a better job be exceeded by the marginal costs of spending time and money at college instead of being fully employed? Should the singer return to college due to the sunk costs of already having attended for some time? What are the opportunity costs of completing college?

[Provided by Kevin Axe - Beloit College]

"Alternative Rock" Archives

Pretty Girl From Cedar Lane - The Avett Brothers

JEL: d       

“I could stand right underneath the window of your room
Throwing rocks I've done it before
And I would love to find a reason to dazzle you with lies
But I don't have the energy no more”

Full Lyrics · Click to Listen

Assignment:

The 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 influence his decision? Keeping the concept of sunk costs in mind (“…I’ve done it before”), should the amount of time he has already invested in the girl influence his decision? Why or why not?

[Provided by Emory Nelms - Beloit College]

"Alternative Rock" Archives

Shipbuilding - Elvis Costello

JEL: d       

Is it worth it
A new winter coat and shoes for the wife
And a bicycle
on the boys birthday

Its just a rumour that was spread around town
By the women and children
Soon well be shipbuilding

Full Lyrics · Click to Listen

Assignment:

After reading the reading the lyrics describe the sacrifices (opportunity costs) of going to and preparing for war.

[Provided by E. Frank Stephenson - Berry College]

"Alternative Rock" Archives

Don't Go For The One - Gaelic Storm

JEL: d       

I bumped into Harvey back home last year
Says I to him, "Do you want to go for a beer?"
"No! Me sister's French husband is over," says he
"I've been sent to get snails to impress him for tea."

"I was down in the snail shop she told me to go
I'm a little bit late because the business was slow...
If I'm not home by six, I'll surely be done
The missus will kill me, Let's just go for the one!"

the one, the one, don't go for the one.
Don't go for the one, for the one, for the one
the one, the one, don't go for the one.
Don't go for the one, for the one, for the one

Full Lyrics · Click to Listen

Assignment:

According 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 risky behavior? Put yourself in Harvey's shoes and justify his behavior in cost-benefit terms. Are his costs really that "the misses will kill me/I'll surely be done"?

[Provided by Alex Ebner (Student - Beloit College)]

"Alternative Rock" Archives

La Tristesse Durera - Manic Street Preachers

JEL: e       

I sold my medal
It paid a bill
It sells at market stalls
Parades Milan catwalks

Full Lyrics · Click to Listen

Assignment:

James Dean Bradfiled sings about a war veteran that has to sell his medal to pay a bill. Economics textbooks tell us about winners and loosers from inflation. How does inflation destroy buying power? Why are war veterans more affected by this than other members of society to such an extent that they have to sell their medals? What policy solutions would help veterans combat the affects of inflation?

[Provided by Simon Medcalfe (Brenau U.)]

"Alternative Rock" Archives

Thousands are Sailing - The Pogues

JEL: d f r   

The island it is silent now
But the ghosts still haunt the waves
And the torch lights up a famished man
Who fortune could not save

Did you work upon the railroad
Did you rid the streets of crime
Were your dollars from the white house
Were they from the five and dime

Did the old songs taunt or cheer you
And did they still make you cry
Did you count the months and years
Or did your teardrops quickly dry

Full Lyrics · Click to Listen

Assignment:

What is the effect of emigration on the country of origin? What is the effect of immigration on the host country? Do you think most immigrants work (for example on the railroad, or as police officers) or do you think they take government assistance (dollars from the White House)? How quickly do immigrants assimilate into a new country: is it “months and years” or do their teardrops quickly dry?

[Provided by Simon Medcalfe (Brenau U.)]

"Alternative Rock" Archives

Stick Shifts And Safety Belts - Cake

JEL: a k     

Stickshifts and safetybelts,
Bucket seats have all got to go.
When we're driving in the car,
It makes my baby seem so far.
I need you here with me,
Not way over in a bucket seat.

Full Lyrics · Click to Listen

Assignment:

The singer of this song doesn't like safetybelts because they make it harder to get close to his loved one in the car. Of course, safety belts are a highly effective safety device. Using the language of economics, make the case that laws mandating the use of seatbelts are not beneficial to this person. Are there any exceptions or other circumstances that should be considered in the analysis besides this one person's well being?

"Alternative Rock" Archives

Big Yellow Taxi - Counting Crows

JEL: a q     

They paved paradise and put up a parkin' lot
With a pink hotel, a boutique, and a swingin' hot spot
Don't it always seem to go
That you don't know what you got till it's gone
They paved paradise and put up a parkin' lot

They took all the trees, and put em in a tree museum
And they charged the people a dollar and a half to see them
No, no, no, don't it always seem to go
That you don't know what you've got till it's gone
They paved paradise, and put up a parkin' lot

Full Lyrics · Click to Listen

Assignment:

Big 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 at least three examples found in the song. Finally, many of the problems mentioned in the song could be addressed through the assignment of property rights and an exploration of externalities. Explain how properly-defined property rights create incentives to minimize externalities.