Cady sings that “more is always better,” which is something that is typically assumed in economics. This is not always the case though, as the law of diminishing marginal utility stands true.Learn about the Law of Diminishing Marginal Utility, utility, and bads in this clip! Discussion Questions for “More is Better”
Read More
Satine is the “sparkling diamond” in Moulin Rogue! Satine sings of the value that diamonds have in her life, as they are better than men, along with other things. The value of diamonds is something that has been discussed for centuries. Learn about the water-diamond paradox in this clip! Discussion Questions for “The Sparkling Diamond”
Read More
There are many items with inelastic demand- in this case, it’s the Squip. The squip is a pill that people take to help them “be more chill”. If Jeremy wants to “be more chill,” like his friend, he must pay the high price. Learn about inelastic demand and price sensitivity in this clip! Discussion Questions […]
Read More
Leo Bloom is an accountant- a job that he and his coworkers all find fairly boring. Leo has a dream of quitting his job and being a producer on Broadway. There are costs and benefits that Leo faces in each of the two fields. Learn about Labor Economics and Compensating Wage Differentials in this clip! […]
Read More
Harvard Law Students are learning about what it takes to be a lawyer- and how they must act if they wish to be successful. Some students want to have fulfilling careers, while others don’t mind being “sharks” and looking for the “blood in the water”. Learn about Labor Economics and Compensating Wage Differentials in this […]
Read More
& Juliet takes place before Romeo and Juliet had been performed. Anne Hathaway and William Shakespeare are discussing the ending of the play; Anne thinks that Juliet should live a fulfilling life and William’s ending is quite different. Learn about wants, resource allocation, constraints, and maximizing utility in this clip! Discussion Questions for “I Want […]
Read More
Beth and Stephen are New York City planners. They dream of making the city a better place to live through creating plans, rules, zoning restrictions, etc. Many other cities across the United States and around the world hire economic city planners; however, there are some critiques of the actions of government economic planners. Learn about […]
Read More
Norma Desmond was the biggest star of Silent Movies. But when the talking movies came out, she was no longer a star. Here she laments her turn in life and vows to get back on top. This is a great illustration of creative destruction. The new innovative industry puts people in the old one out-of-business. […]
Read More
Lawrence and his bodyguard sing about their scheme to con money from their wealthy victims: desperate ladies. Lawrence is planning to con money from these women by “giving them what they want”.Giving customers what they want is a great strategy for legitimate businesses; the most successful firms give the customers exactly what they want to […]
Read More
Arthur and his coworkers at the shop discuss what they would do if they had some “Money to Burn”. Of course, they all would like some slightly different things due to different preferences. Learn about preferences, as well as GDP and its components (Consumption, Investment, Government Expenditure, and Net Exports) as the shop workers discuss […]
Read More