Tuesday, December 04, 2012

An Assignment Born out of Insomnia

I could not sleep so I have created the following two discussion assignments for the most boring chapter in my econ 102 class. The credit should be given to Dirk Mateer at Penn State. I am nervous about the Beyonce assignment. Please advise me if I should do it or not?
Here is the link to his other musical ideas.
Assignment 1 The Slope of Demand Curve

Here is a song. Please read or listen to the lyrics and answer the following question.

Having bills to pay makes a number of people turn to crime in the song. When someone is so desperate for money that they they sell their body or steal, what type of demand do they have?

What will their demand curve look like? Will it be more vertical or will it be more horizontal?



Assignment 2 The Elasticity of Demand
Here is a video that has to do with the Elasticity of Demand. Listen or read the lyrics to the following song and answer the following questions:
Is Beyonce's demand for her boyfriend elastic or inelastic?
What did the boyfriend believe was the elasticity of her demand?
Did her elasticity of demand change? (hint: I was such a fool!)
Look at the title of the song what does it have to do with Elasticity?
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