Tuesday, 1 December 2015

Comparative advantage and trade, Dr Seuss style

Justin Wolfers must have some interesting classes. He just posted this poem in the style of Dr Seuss by one of his students. It covers comparative advantage, task allocation, and trade. My favourite bit:

If tasks were switched amongst our three friends,
Opportunity cost would rise to no end.
Each should focus on that which they do best,
And trade for those products made by the rest.

Nice. It reminds me of this Art Carden effort from a few years ago, "How Economics Saved Christmas", which is an assigned reading in my ECON110 class.

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