Scarcity, Incentives, and Opportunity Cost
Get the conversation started about incentives, a foundational concept in any economics course. In this video, the authors of Freakonomics talk about how incentives can lead to unintended consequences. Ask your students to share examples of their own, and extend the conversation to real life examples of policies that resulted in unexpected outcomes.
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1. Is AI a job-killer or an up-skiller?- Planet Money, 8 minute podcast
Are your students worried about competing for scarce jobs with AI? Or perhaps there is a high opportunity cost of not utilizing AI to become more productive.
2. Don’t Do It Yourself Mall Fishing – Kayak, 30 second commercial
In Kayak’s latest series of “Don’t Do It Yourself” commercials, the opportunity cost of not using Kayak is entertainingly imagined.
