Monopoly is the Way to Go

If there’s only one seller of a product and new firms can’t enter the market, competition can’t drive prices down, as explained in this video after some nice black-and-white scene setting. Being a monopoly is nice work if you can get it.

Money quote: “Monopolistic competition, oligopolies / neither of them are efficient allocatively”

Counting Prof

Looking at the same topic from a different angle, this is so well-produced it looks like a proper music video.

Money quote: “Maybe I’ll just advertise / Where MR meets MC we profit maximise”

It wasn’t me

Most of the videos here are about monopolies: this one is about firms colluding to form an oligopoly. This video should get an award for the most surprising place to draw a cost curve diagram.

Money quote: “Feds came and they caught me red-handed / Colluding with the firm next door / Picture this: we were both profit-making / Selling below the price floor.”

Nuthin’ But A G Thang

Back to the topic of monopoly, and exactly why it’s bad. Let the “Straight Outta U-ville” massive explain and entertain.

Money quote: “From a rival’s perspective / Blocked entry, no close subs, non-price comp are effective”

Firm 45

Do you ever think about pizza? We all do, but do you ever think about how pizza production involves fixed and variable costs whose sum you have to keep the price above in order to be profitable?

Money quote: “The price went down and my Q went right / My business was boomin’ like dynamite.”

Unregulated Monopoly

The chorus of this video features what looks like the most fun car trip ever.

Money quote: “Yeah I know consumer surplus is down / Producer surplus is the highest around”

Shoot for the money

Worth watching for the hilarious Deadpool tribute! Lots of these videos include cost curve diagrams, but a cost curve diagram in fire takes cost analysis to a new level.

Money quote: “Over-price it bang! / Under-produce that thang. / I wanna know / How AVC hangs”

Monopoly Queen

A song from 1976 brought into 2016 and into the world of imperfect competition. Contains scenes of explicit hairstyling and ukelele playing.

Money quote: “Socially optimal’s not our style / Quantity’s low and the price is high.”

Some of these are pretty good ways to stick an economic idea in your head. Read on for our eight choices from the last few years of the competition.

99 Problems

This rap not only packs in lots of economics references but the video incorporates the lecture slides. Stay at the end for a blooper reel!

By students from: Abdullah Al Bahrani’s class at Northern Kentucky University
Money quote: “Manufactured aids / and consumer goods are capital. / Individuals who weigh / costs and benefits are rational.”

Look At Me Now

Rightly an award-winning video, with an amazing rap.

By students from: Kim Holder’s class at University of West Georgia
Money quote: “That curve look like a PPC. My production lies on the curve: efficiency!”

Round it Goes

Not the most technically impressive video, but the catchiest song and they’re clearly having a lot of fun.

By students from: Abdullah Al Bahrani’s class at Northern Kentucky University
Money quote: “The financial system everyone uses: global borrowers, lenders and institutions.”

Just got Paid

Looking scarily like a real R’n’B video, this “All Me” parody is at the other end of the visual quality scale.

By students from: Kim Holder’s class at University of West Georgia
Money quote: “That interest / is so interesting / Got a sweater vest / on when I invest.”

Applying Economics

Surely the most fun music video explaining how demand of normal goods responds to price and vice versa.

By students from: Solina Lindahl’s class at Cal Poly
Money quote: “That’s the way it works / goes the other way too. / If demand goes up  / then the sellers can charge you / more!”

Save (parody of “Brave”)

Impressive singing and optimism from this one: if by the end you’re not looking for money to set aside, you have no heart.

By students from: Kim Holder’s class at University of West Georgia
Money quote: “Everybody gets scared / of a downed economy. Drowning in my tears / my funds are disappearing.”

Pay Day

Is a rap a good or a service? Should we be spending or saving? Why not both, asks this rap.

By students from: Adam Hoffer’s class at University of Wisconsin La Crosse
Money quote: “These are diamonds, girl / This isn’t plastic./ It’s a luxury good, man: it’s elastic!”

Let GDP Grow

There would have to be an economics version of “Let it Go”, wouldn’t there? Unlike the other videos, you have to activate closed captioning to see the lyrics.

By students from: Solina Lindahl’s class at Cal Poly.
Money quote: “Give fiscal policy a try / Keynes ain’t such a bad guy”

Those are our favourites. See all the entries at Rockonomix.com, including some with good economic ideas but not so tuneful.