Most students are familiar with the struggles of seeking employment, either through first-hand experience or by seeing the effects of the recent economic downturn on their family and friends. As students listen to the singer listing his job skills, ask them to identify examples of human capital and how these qualities can distinguish a person in the workplace, particularly when there is a surplus of jobseekers. The chorus ends with the singer mentioning high gas prices and the rising “cost of living.” Students, particularly those on a shoestring budget, are very aware of the prices of goods and services in an economy. This is a great time to introduce the concept of inflation to students by discussing gas prices. Note: The U.S. Energy Information Administration (EIA.gov) lists historical gas price data.
Content derived from AEA 2013 Poster Session: "Staying Relevant: The Best Media for Teaching and Learning Economics in the Last Five Years," by G. Dirk Mateer and Kim Holder.
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