Positive vs. Normative Economics
Objectives: Materials: Procedures: Introduction (5 minutes): Instruction (20 minutes):
Understanding Opportunity Costs
Objectives: Materials: Procedures: Introduction (5 minutes): Instruction (30 minutes): Optional Discussion Questions Educator could Include in a Worksheet: Conclusion (10 minutes): Follow-Up Activity: Assign students to identify a significant decision they have made recently and describe the opportunity costs involved. Have them write a brief reflection or present their analysis in the next class.
Mixed Strategy Nash Equilibrium Using Game of Thrones
Objectives: Materials: Procedures: Introduction (5 minutes): Instruction (30 minutes): Conclusion (10 minutes): Follow-Up Activity: Assign students to find a real-world example where players use mixed strategies (e.g., business pricing strategies, sports tactics). Have them prepare a brief analysis of the strategies and potential equilibria to share in the next lesson.
Currency in Game of Thrones
Objectives: Materials: Procedures: Introduction (5 minutes): Instruction (30 minutes): Discussion Questions for Worksheet: Conclusion (10 minutes): Follow-Up Activity: Assign students to research a historical or modern-day alternative to traditional currency (e.g., cryptocurrency, shells, tobacco) and prepare a brief presentation on how it functions as money. Encourage them to compare its effectiveness to that of gold …
No Economic Growth in Westeros
This video shows Westeros/King’s Landing in the House of the Dragon Series and in the Game of Thrones series, which was 200 years later. The cities are strikingly similar, indicating there was no economic growth in these 200 years. This is wildly different than what we’ve seen in most of the world over the past …
Understanding Bargaining
Objectives: Materials: Procedures: Introduction (5 minutes): Instruction (30 minutes): Discussion Questions for Worksheet: Conclusion (10 minutes): Follow-Up Activity:
Lord Frey has Bargaining Advantage in Game of Thrones
Season 1, Episode 9: The Starks want to safely cross water but need Lord Frey’s position. They are in a bad position and he is reluctant and in a good position. In bargaining, we’d say that the Stark’s Best Alternative to a Negotiated Agreement (BATNA) was low while Lord Frey’s was high. As bargaining theory …
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Trade Restrictions Cause Chicken Prices to Increase in House of the Dragon
A family is discussing the implications of a blockade. The prices for chicken have tripled, which is consistent with a decrease in supply. There is also discussions of hoarding of food, the blockades, and whether the king will do something to help.
Cersei’s Gambit: The Unintended Consequences of Power
Season 5 Episode 7: In this clip, Cersei is cornered by the High Sparrow, the religious leader in the Seven Kingdoms. Cersei empowered the High Sparrow to attack her political opponents, but he eventually turned on Cersei and imprisoned her. This is an example of unintended consequences. Often, governments will implement economic policies without considering …
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Jorah and Tyrion: A Complementary Duo
Season 5 Episode 7: In this clip, Jorah is sold to a slaver who plans to use Jorah as a fighter in a fighting pit. To stop this, Tyrion argues that he is also a great fighter and that he and Jorah are a team. The other slaver finds Tyrion funny and decides to buy …