Review Videos

Below are some selected videos to help review some of the material from class. They will not cover all of the material we cover in class, but will help give an understanding of the basics of the concepts we covered in class.

​Scarcity & Choice

This video uses clips from "Star Wars" to explain self interest, cost benefit analysis, incentives, scarcity, and how people make choices to exchange goods.

Marginal Analysis

This video explains how people make choice on the margin with clips from the movie "Monty Python and the Holy Grail"

Production Possibilities Frontier (PPF)

This video looks at the movie "Monsters Inc." to explain the concept of production possibility frontiers (PPFs). This video examines the PPF where one of the outputs (scream energy) is used to make both products, so make sure you understand how that effect is different than our other class examples.

Supply and Demand

In this video, they explain supply and demand using the market for pet snakes, including shortage, surpuls, and equilibrium.
It also looks at shifts in supply and demand. First from the effect of substitute goods (pet monkeys) decreasing demand, and then a pest problem increasing demand.

Firm Overview

This video uses a full summary of Walter White's stint as a meth dealer to explain economic theories of how a firm works. 

Note: This will be much more useful if you have already reviewed firm theory, and you have seen "Breaking Bad"

Marginal Analysis, Externalities, and Market Failure

​This video is examines the marginal benefit and marginal cost of cannonballs, negative externalities of horrible cologne, and market failures in gang fights using clips from the movie "Anchorman"

Oligopolies and Game Theory

​This video gives an overview of Oligopolies and Game Theory using clips from "The Dark Knight".
When the mob bosses get together and talk about how best to run their businesses, they are colluding to be an oligopoly.
The Joker giving the detonator to the separate ferries is a great example of prisoners dilemma. Mr. Clifford gives another example of game theory in producing comics and shows a dominant strategy