Theo's Economic Lesson

Media Type: TV Clips Topic: Incentives, Jobs & Unemployment

The Cosby Show

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Cliff is upset that his son doesn't want to go to college. He uses monopoly money to show him how life's expenses add up. Like most teenagers his son doesn't have a good understanding of what it takes to be able to afford things. Cliffs lesson includes taxes, rent, food, clothes, and the cost of a girlfriend. After he is done, the money his son thought would be enough, is clearly insufficient. This is a fantastic scene involving trade-offs, investments in human capital (good grades), and costs of attaining what you want.

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