Supply and Demand in Music

January 17, 2012

by Edward Peter Stringham*

Many economists are criticized for being unable to communicate their ideas in am intelligible and non-boring way. How many people, for example, jump to listen about a debate about the Austrian theory of the business cycle? It turns out quite a lot. John Papola and Russ Roberts demonstrated to the world that lots people will actually listen to an economics discussion if presented in an interesting way.  Their videos recently surpassed 4.5. million views. They did an amazing job especially with their good casting decisions for the reporter at the end of the second video.

This year I decided to run a video contest for students to create music videos that help illustrate the laws of supply and demand. The entries are in and many of them are quite funny. Over the next few weeks we will be picking the winners and one of the factors judges will consider is viewership and votes on Youtube and Facebook.

Here are a couple entries:

Check out the 15 finalists here http://hackleychair.blogspot.com/ and vote on Facebook. Who do you think should win?

(*Hackley Endowed Professor for the Study of Capitalism and Free Enterprise)

 

One Response to “Supply and Demand in Music”

  1. chidemkurdas Says:

    I would expect the students will get more from this experience & retain more of what they learn over time, compared to just reading the textbook.

    The videos have different styles and wit. I find it hard to pick one over the other.


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