Season 5, Episode 1: Jon Snow is talking with Stannis Baratheon. Stannis wants Jon to convince Mance – the King Beyond the Wall – to join him and bring his Wildling Army. This is risky, as the Wildling Army could be powerful and pose a threat, but Stannis clearly thinks this is worthwhile.
Season 4 Episode 5: Tywin Lannister and Cersei Lannister discuss the Lannister’s depleted gold resource from the wars and the obstacles they face in paying back the Iron Bank of Braavos without being able to tap into this resource anymore. This relates to the problems many developing countries face called the resource curse or Dutch …
Season 3 Episode 10: Varys offers diamonds to Shae to leave the Tyrion Lannister and the capital. She refuses. In doing so, the opportunity cost of staying with Tyrion are clearly illustrated – a lot of gold and a good life elsewhere. This clip also does a good job of illustrating trade offs, as Shae …
Season 1 Episode 4: Rooms at the Inn are sold out – the quantity demanded exceeded the quantity supplied. Because of this, Tyrion offers a big premium to anyone who will sell him their room. This increase in price is consistent with market analysis when demand exceeds supply. It is also what we see in …
Season 7 Episode 1: Sam Tarley discovers where a cache of dragonglass is. Given the value of dragonglass, this immediately improves the outlook for society. The value of finding a valuable resource will improve production possibilities, and will mean society can produce more goods.
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 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 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, …