Microeconomics Rap

An economics rap made for Jeff Borland's class at the University of Melbourne. I think it's safe to say this really lowers the bar for rap videos.

LYRICS:
Whatup ECON10004
This is Edwin economist
I see you crammin for finals
And I got just the thing to motivate you

Chorus:
Wanna understand the world
Don't study politics
Don't do no CPA
Study economics
Wanna get ahead in life?
Well I'll tell you one thing
Microeconomics will explain everything

Verse 1:
Let's start from the top
When there's a shortage of fruit
Supply curve shifts to the left
Prices go through the roof
Why are VCR's so cheap I'll help you understand?
Prices always go down with a leftward shift in demand
Why has no-one in this market bought a cent of my ice?
You're stingy son, make your offer equilibrium price
We upped prices by a dollar now we can't sell this plastic
Well I'll tell you why son, lego is price inelastic

Verse 2:
Yo there's a fact you need to learn all guys and girls
Economic policy might just save the world
Pollution's a big bad externality
Let's put a Pigovian tax and set the quantity
Governmental intervention happens when we need more
Of something traded, something good that benefits us all
Let's get efficient outcomes through a subsidy
Lowers the price, increases traded quantity

Verse 3:
Rational decision making comes with many benefits
Monopolistic competition explains Facebook's many hits
When you're at the pet store you face trade-offs between fierce and cute
If prices rise for Pepsi I know I can get a substitute
There's a scarcity of resources so don't complain
Price discrimination's why it's cheap for children on the train
Our operating costs are high so sell our stuff fast
Incentives are the only reason why I answer Jeff in class

Chorus

Fixed cost for this rap is my integrity
Opportunity cost quant. methods study
Marginal cost is the amount of sleep I lose
For each unit of mad rap skills improved

In the market of love girl optimum quantity
Of guys traded is one, and that one guy's me
Seeing you improved my heart's efficiency
Hope this rap from Edwin improved your study

Category:

Entertainment

Tags:

• microeconomics
• economics
• rap
• university
• of
• melbourne
• introduction
• to
• jeff
• borland
• ib
• ap
• supply
• demand
• elasticity
• efficiency
• incentives
• marginal
• opportunity
• cost
• edwin
• economist