Season 7, Episode 3: The Iron Bank of Braavos discusses their activity with the Master of Coin Mace Tyrell and states “we don’t make bets. We invest in endeavors we deem to be successful.” This highlights how banks try to make a profit where the odds are in their favor as opposed to different forms …
Read more “Mace Tyrell and the Iron Bank’s Investing Strategy”
Season 3 Episode 9: Robb and Catelyn are considering attacking Casterly Rock, but can only do so with Walder Frey’s men. Must cement coalition with a marriage. To teach this concept in the classroom, click here for a lesson plan
Season 7 Episode 4: Cersei invades Highgarden, coming into possession of much gold and with it she pays off the kingdom’s debts to the Iron Bank of Bravos. The Iron Bank had become fond of the interest payments the kingdom’s debts were building up and by paying off the debt the interest payments ended. This …
Season 5 Episode 8: Olly, a victim of violence from the Wildlings, asks Samuel Tarly why Jon Snow intends to help people who have been the Night’s Watch enemies for years. Samuel explains that in order to fend off against the White Walkers, Jon must have the strength of the Wilding army on his side …
Read more “Jon Snow’s Trade-Offs: Allies Against the White Walkers”
Season 1 Episode 3: There is a discussion on inefficient government spending (for the hand’s tournament). Government spending should almost always be more inefficient than private sector spending because governments don’t face the same constraint consumers do when spending on items that give the highest marginal utility per dollar. To teach this concept in the …
Read more “The Hand’s Tournament: Government Spending Under Fire”
Season 1 Episode 1: Eddard is offered the role of Hand of the King. While not a monetary incentive, it’s a prestigious position but requires a lot of time commitment. He’s already a Lord at Winterfell, a great life with much more leisure time than if he took the new role, but the incentive to …
Season 5, Episode 5: Samuel Tarly was able to kill a white walker using dragon glass, but neither he nor Stannis Baratheon know why. Sam is reading to try to figure out more. Here is a case where research and development could yield results that help society. This is similar to what companies and governments …
Season 3, Episode 8: A soldier is happier to see Lady Brienne die fighting a bear with a wooden sword than to receive a big ransom. By doing so, he is paying an opportunity cost for entertainment To teach this concept in the classroom, click here for a lesson plan
Season 2, Episode 10: Daenerys and Jorah intend to use a gold chalice as currency – a medium of exchange – to purchase a ship for crossing the Narrow Sea into Westeros. Throughout history, gold and other precious metals have served as currency for many empires. To teach this concept in the classroom, click here for a …
Season 1, Episode 7: The newest members of the Night’s Watch are assigned to particular roles. We can see Lord Snow is visibly upset by where he was sorted. Because this is not a market mechanism, where individuals choose their jobs based on pay, working conditions, etc. and employers choose their workers based on productivity, …