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Video Legally Blonde and Economics
Reese Witherspoon describes the laws of hair care as being, "simple and finite,"; similarly, the project of economics is to explain human behavior with a few simple and finite rules.
Video The Gold and Silver Standard in the Wizard of Oz.
The Wizard of Oz is allegory representing competing financial systems: Fiat Money and Money backed by precious metals More info: http://www.usagold.com/gildedopinion/oz.html
Video The Candle Maker's Petition
This clip is taken from part one of the Simpsons Episode: Who Shot Mr. Burns?. This episode draws an almost perfect parallel with Bastiat's Candle Maker's Petition.
Video Correlation, Causation and Homer's Promotion
This clip from the Simpson's illustrates one of the difficulties that economists face. That being that it can be very difficult to tell what is causing two variables to change
Video Willingness to Pay in Swept Away
This clip from the film Swept Away shows that when economists talk about "Willingness to Pay," the assume the ability to pay. This also highlights one of the main objections that people have to capitalism, namely that it is unfair
Video Price Elasticity of Demand and Substitutes in the Hurt Locker
One of the factors that affects the price elasticity of demand is the number of possible substitutes. This clip from the Hurt Locker exemplifies this perfectly.
Video There Is No Such Thing as a Free Lunch
This clip exemplifies the mantra that economists use, "There is no such thing as a free lunch."
Video Apology for Capitalism in Wall Street
In this scene, Gordon Gecko becomes the majority share owner of a company. He is given the floor and speaks for a moment in an attempt to sway the opinion of other shareholders. What follows turns out to be a great apology for capitalism.
Video Elasticity-Necessity or Luxury
This clip is taken from the episode of the Simpsons: Bart Gets an Elephant. Homer tries to be entrepreneurial but grossly misjudges the elasticity of demand for elephant services.
Video Advertising and the Rationality Assumption
This clip is taken from Willy Wonk and the Chocolate Factory starring Gene Wilder. It show that sometimes advertising can create a mania.
Video The Simpsons: Lisa's Substitute explaines the Free Rider Problem
This clip is taken from the Simpsons: Lisa's Substitute.
Video Advertising and the Rationality Assumption
Classical economics assumes that people are perfectly rational. As we see in this clip, the assumption is not correct.
Video Diminishing Returns of Production
This clip is taken from the Simpsons: Bart Gets Famous. In said episode, Bart becomes famous because of a novelty.
Video Sources of Monopoly in Forrest Gump
In this scene, Forrest Gump starts a shrimping business. He doesn't have enough sense to make for harbor during a hurricane. However, this turns out to be his saving grace. His shrimp boat was the only one to survive the hurricane. Monopoly!
Video Optimal Behavior
A very uptight man meets a very free spirited woman. Hilarity ensues as he learns to relax.
Video Elasticity of Demand in Catch Me If You Can
In this film, Leonardo Di Caprio impersonates several different white collar professionals while government agent Tom Hanks is hot on his trail. In this clip, a prostitute is attracted to Leonardo's wealth. She entices him and then asks him to bid.
Video Theory of Beuaracry in Ghostbusters
This film is about university professors who study the supernatural. When their funding is exhausted, the start the Ghostbusters company. Eventually, the are charged with arresting the apocalypse.
Video Marxism: the Promise
This scene is taken from the film Dr. Zhivago. At the end of the Russian revolution, Dr. Zhivago is reunited with his love interest. From down the streets come a car announcing that "Lenon is in Moscow!" In other words, communism was on its way.
Video Price Discrimination in Pretty Woman
In this film, Julia Roberts is a working prostitute. She gets picked up by a business tycoon. They end up falling in love and living happily ever after.
Video Accountability in the Watchmen
The Watchmen is morbid, adult comic book story. Masked vigilante heroes cohere and form the Watchmen. They become corrupt and disband. The movie begins when one of the masked men finds out that someone is systematically killing former Watchmen.
Video The Watchmen
The Watchmen was originally a dark, morbid comic but it was later adapted to the big screen. It is the story of a group of masked vigilantes who disband after becoming corrupted. Then a mysterious figure begins systematically killing former heroes
Video Marxian Exploitation of Labor
This clip is taken from the movie Modern Times. The movie is a silent comedy starring Charlie Chaplin. In it Charlie Chaplin begins work on an assembly line in a factory. It is the story of a working man who must adapt to industrialization.
Video The Diminishing Professor
This movie is the story of a professor who is grossly overweight. The professor discovers a fabulous weight reducing formula. However, the formula malfunctions and the professor is sometimes skinny and evil. Others, he is fat and good.
Video Diminishing Doughnuts
This a Simpsons Halloween episode. In it, Homer is tortured because he sells his soul for a doughnut.
Video Irrational Pirates
This is taken from the opening sequence of Pirates of the Carribean. It is the story of cursed pirates who try to become uncursed and the adventurers who get caught up in their struggle. The drama begins because of a poorly fitting coursette.
Video Blow and Monopoly
This clip is taken from the movie Blow. In said movie, a man is swallowed up by the wealth and prestige that illicit drugs offer. Sadly, he quickly becomes trapped and must struggle to escape.
Video By Big Fat Diffuse Local Knowledge
This clip comes from My Big Fat Greek Wedding. The story is one about a woman who marries a man; and, the wedding serves as a cultural exchange for the two families.
Video King Sized Unintended Consequences
In this episode, Mr. Burns institutes an exercise policy at the chemical plant. Homer hates to exercise. Homer quickly learns that he can get out of exercise if he injures himself. Homer develops a plan to get out of the exercise regimen!
Video How to Lose Diamonds in Ten Days
This clip is the set up for the plot of the movie. Kate Hudson enters a bet that she can lose a guy in ten days so that she will have something to write an article about. Matthew McC.'s wants to show that he understands women.
Video Jurassic Communism
These clips come from the movie the Lost World. In both cases, Jeff Goldblum's idea about animal survival mechanisms and natural processes are being described. Biological process which lead to survival and evolution parallel market processes.
Video AVoteForBart
In this clip, Bart's class has a vote for class president. However, the students don't seem much concerned with which candidate will perform better. In other words, people vote irrationally.
Video Necessity and Elasticity in Swept Away
In this clip, Madonna is marooned with a sailor who works for her and her family. He catches a fish; and, she tries to buy it. However, he is unwilling to sell it to her, presumably at any price.
Video Tragedy of the Common Cove
In these clips, the slaughter of dolphins in a secluded cove is described. The movie deals with the ethics of the dolphin trade and possible solutions are described.
Video The Uses of Cigarettes in Stalag 17
This film depicts life in a German prisoner-of-war camp. In the this clip, it is depicted how prisoners of war would use cigarettes as a medium of exchange. The prisoners had several goods and services that they would trade for.
Video Simpsons Trade Offs
This scene is taken from a clip an episode of the Simpsons wherein Marge gets a job. The employer of the Simpsons family members must make a trade off between Marge and Homer.
Video Trading Information
Spoiler Alert! This is the plot resolution of the movie Trading Places. In it, Eddie Murphy and Dan Akroyd realize that the two business men who swindled them are engaging in insider trading. Dan and Eddie capitalize and make a lot of money.
Video Auctions of a Shopaholic
In this scene, the titular character must sell her clothes in order to pay of a credit card debt. She uses her fame as 'the Woman in the Green Scarf,' to ensure a successful auction.
Video The Bourne Exchange
This clip comes from the Bourne Identity. In this clip, Jason Bourne has amnesia and he is trying to figure out who he is. He knows that people are after him so he offers a woman money to give him a ride.
Video What Happens in Vegas Leads to Bargaining
The first scene I left because I thought it was funny. The rest of the scenes set up the plot of the movie.
Video When Two Strangers Trade
A special operative, Jason Bourne, wakes up and has no memory. He does not know that he is a special agent but he knows that the police are after him. He goes to the consulate in order to escape the country. Then this scene begins
Video Matt Damon teaches price fixing
In this scene, Matt Damon talks to other business executives about price fixing. He talks to business executives in his firm and at other international firms. However, the other execs don't know that Matt Damon is wearing a wire!
Video The Otto Show
In this episode of the Simpsons, the band Spinal Tap guest stars. The band, played by a group of comedians, are known for their foolish comments. This is one such example
Video Career Opportunities and the Agency Problem
This is the movie about a man who works the night shift and while there he meets a woman who accidentally fell asleep in his store. The movie is a love story.
Video Economics in Rent
This is a broad way musical adapted for film. The musical itself was adapted from an opera, La Boheme, which explores poverty themes and the lives of people outside the mainstream.
Video Beavis and Butthead Teach Monetary Velocity
This clip comes from a scene wherein Beavis and Butthead are asked to sell candy for their high school. The boys have a hard time selling the candy until they realized that they could use the one dollar to buy candy bars from each other
Video The Keynesian Multiplier in Pay it Forward
This clip is taken from the film Pay It Forward, in which a young boy has an idea about how to make a big social change. The idea is that he will help three people in a big way and they will in turn do the same.
Video TiMER
In this film, people can buy timers which count down to the day that they will meet their life long true love. In this, clip a woman talks to her boyfriend, who she believes will not be her true love (not according to timers anyway).
Video Themes of Poverty and Class in the Notebook
The Notebook is a love story it is about two people who fall in love and despite impossible odds, they manage to stay together for life. Their parents want to keep them apart because he is a poor boy and she is a rich girl
Video Free Riding in Class Elections
In this scene, Bart's third grade class must vote on a class president. Sadly, the third grades vote in much the same way people generally vote. There are students who can't be bothered to vote,they believe everyone else's vote will be sufficient
Video How the Simpsons Teachs Opportunity Cost
Abe Simpson gets a girlfriend. He must chose between spending a day with his family or his girlfriend. Later, he has to choose between spending an inheritance on himself or other people. His limited resources exemplify opportunity costs.
Video Disappearing Gangs of New York
This is the final scene of the film Gangs of New York. It shows how New York changed and industrialized over the course of more than a hundred years.
Video Shifting the Demand Curve in the Simpsons
In this episode of the Simpsons, corporations are portrayed as being able to shift the demand curve with advertising. Homer Simpson prefers a teddy bear that is almost indistinguishable from another teddy bear.
Video Irrational Agents of Venice
A man borrows money from lender. They agree on the terms of the deal.The collateral is shockingly violent! Mateer, G. Dirk, Herman Li, and E. Frank Stephenson. Movies For Econ! G. Dirk Mateer, n.d. Web. 3 Aug. 2013. <http://www.moviesforecon.com/>
Video Penny for the Poor
Penny, the love interest in Dr. Horrible's Sing-Along Blog, is out gather signatures for a petition to which would turn a condemned building into a homeless shelter. She works for a nonprofit called Caring Hands.
Video Price Elasticity of Demand in Jingle All the Way
Arnold Schwartzenegger is desperate to get a Turboman Action figure for his son.
Video Ferris Bueller Misses Economics
In this clip, Ferris Bueller misses an economics class to skip school. Part of the humor, is that Ben Stein is able, as if by magic, to make an economics course boring; and, the students seem unininterested in the subject matter. This is hilarious!
Video Vegas Vacation and the Money Supply
In this clip, Chevy Chase goes broke gambling. He's cousin has a plan to dip into savings and finance Chevy Chase so that he can gamble more and win it all back.
Video Intuitions, Economics and the Force
Compiled here are several instances of Jedi Masters training Luke Skywalker. There words are surprisingly relevant to the study of economics.
Video Just Bargain for It
In this scene, Adam Sandler bargains with his best friend's kids. They are willing to pose as his children but only for certain compensation. He needs them to pose as his children so that he will not get caught in a lie.
Video The Guts to Sell
In this scene, two doctors are discussing the illegal organ trade. One doctor is feeling coerced into working in the organ trade because he is an immigrant and having trouble adapting.
Video It's a Wonderful Bank Run
This scene is taken from It's a Wonderful Life. It is a fantastic explanation of what happens during a bank run; and, it has been used in economics classes since the movie was available.
Video The Power of Compound Interest
In this scene, we learn about the power of compound interest.
Video The Darwin Risk Aversion
A man is risk averse. His precautions against risk aversion are, perhaps, riskier than the original risk!
Video Nominal, Real Marge
In this episode of the Simpsons, Marge gets a job.
Video Hyper-Inflation in Ducktales
Scrooge McDuck takes a break from his life of extreme wealth to go live in a barter economy. However, he and his crew unintentionally introduce a medium of exchange into the society. This is good because it facilitates trade and value creation...
Video Creative Destruction in Roger and Me
GM outsources their factory jobs and the result is havoc on the town of Flint, Michigan.
Video Great Exponential Discounter: Gatsby
Jay Gatsby gives an account of his life that makes it sound like he is *extremely* good at delaying satisfaction.
Video Theory of Bureaucracy in the Simpsons
In this scene, Homer Simpson becomes an elected official and immediately causes a catastrophe.
Video Don't Even Need to Read It
In this scene, Penny is acquiring petitions for her philanthropic cause.
Video The Economist of Monte Cristo
In the Count of Monte Cristo, our young protagonist decides to use his down time to train. He sharpens his mind *and his body. He studies different disciplines and, in this particular scene, he gives the definition of economics.
Video Cartels, Game Theory and Families
In this scene, several people are playing a game. The have split into two teams of two but one player decides that if he double-crosses another player that he can win the entire game for himself.
Video Collusion in Grosse Point Blank
In this scene, an assassin tries to convince his friend to collude with him. He argues that if we work together, and form a union, then we can earn higher wages for ourselves.
Video Vegas Money Supply
Cousin Eddie takes his savings and buries the money in metal coffee tins in the desert. When Clark Griswold losses all of his cash in Las Vegas, Eddie decides it is time to dig up the money to help Clark out.
Video Clueless Altruism
Cher wants to become more involved and help other people. Is she going about it the right way?
Video Gross Point Collusion
In this, Tom Arnold is inviting John Cusack to join a union for assassins. If they do so, then they will be able to demand higher wages, among other things.
Video Trade in Jingle All the Way
In this clip, Arnold Schwarzenegger's character is desperate to get a Turboman action figure for his son for Christmas.
Video Corporations in the Simpsons
In this scene, Homer Simpson is offered a job at Globex Corporation. He accepts for better hours and better pay. It becomes clear that Homer was hired because of his knowledge of the Simpsons Nuclear plant, one of Globex's competitor's.
Video Homer's Unemployment Odyssey
This is the story of Homer Simpson's Unemplopment