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Opt out of another dry economics lesson with this crazy video featuring a performance and rap song about the contributions and theories of economists Friedrich Hayek and John Maynard Keynes. The primary topic of focus is a boom and bust cycle, illustrating such concepts as central banking, government interest rates, and economic depressions.
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CCSS:
Adaptable
Concepts
Additional Tags
Instructional Ideas
- Print out the lyrics to the song (see link provided in video description), and have class members explain alongside what each of the lyrics is aiming to reveal about the economists' theories and accomplishments
- As an extra credit assignment, students can memorize, rehearse, and perform the song in front of the class
Classroom Considerations
- Review the video in its entirety before presenting it to your students, as it contains several scenes that may be inappropriate (i.e. containing alcohol, dating/nightclub setting, etc.) given the age and maturity level of your pupils
- The "Boom or Bust" concept is conveyed in the video through a metaphor of heavy drinking. If you determine that your learners are mature enough for this content, then be sure to spend time analyzing the chosen metaphor and what it is attempting to represent
- Watch for several subtle metaphors and symbols throughout, such as the economists standing in front of a statue of a bull to represent the bull market
- This video is hosted on YouTube
Pros
- Highly engaging and entertaining
- Refers a wide variety of economics concepts throughout video
- Informative lyrics tied together in an excellent compilation
Cons
- None