Economics Happy Hour Podcast

Teenagers today are far less likely to work than previous generations. This episode explores the long decline in teen labor force participation and tries to identify some possible causes. The conversation also turns personal, with reflections on the skills we gained from working early. Along the way, we debate whether teenage jobs still provide important lessons in responsibility, communication, and independence.In this episode, we talk about:* Why teen labor force participation has fallen so dramatically since the 1970s * Whether modern teenagers value independence differently than previous generations * How working as...

This episode breaks down what non-compete agreements are and why they’ve become such a hot topic in labor economics. Matt and Jadrian explore when these contracts make sense and when they might go too far. They weigh the trade-offs between protecting company investments and limiting worker mobility, while also digging into recent policy debates and what non-competes mean for innovation and entrepreneurship.In this episode, we talk about:* What non-compete agreements are and why companies use them* Whether it’s reasonable to restrict employees from working for competitors* The fairness (or u...

Explore the current state of financial literacy as we celebrate Financial Literacy Month. We walk through the “Big 3” financial literacy questions and discuss how surprisingly few people answer them correctly. For many people, financial knowledge is learned through experience rather than formal education, but that’s starting to change as more states push for personal finance requirements.In this episode, we talk about:* What Financial Literacy Month highlights and why it matters* The “Big 3” financial literacy questions and how people perform on them* Gaps in financial knowledge across education levels* How pe...

How early is too early to get to the airport? This episode looks at that question through an economic lens. We explore the tradeoffs between time, risk, and the cost of missing a flight, using data and real travel experiences. What seems like a simple decision turns out to reflect how we think about uncertainty, incentives, and risk.In this episode, we talk about:* The tradeoff between arriving early and risking missed flights* How opportunity cost shapes airport arrival decisions* Real-world data on how early people actually arrive at airports<...

Prediction markets allow people to bet on future events, from elections to economic data releases, with prices reflecting the crowd’s expectations. Economists often view them as powerful forecasting tools because participants have money at stake, which can lead to more accurate predictions than traditional polling. But these markets also raise concerns about manipulation, insider information, and ethical questions about what events should be traded. Together, we explore both the promise and the risks of prediction markets.In this episode, we talk about:* What prediction markets are and how event contracts work* Why pr...

A recent headline claimed that Canada’s GDP per capita has fallen below Alabama’s. That sparked a broader conversation about what GDP per capita actually measures and why it can change in surprising ways. We explored possible explanations, including immigration patterns, post-pandemic growth differences, and policy environments. Along the way, we asked a bigger question: what really drives long-run economic growth?In this episode, we talk about:* Why GDP per capita in Canada now trails Alabama’s* The difference between GDP per capita and median income* How immigration can lower averag...

We’re joined by Doug McKee to talk about how economists can use assessments and experiments to improve teaching and learning. Doug explains how learning assessments can reveal what students actually understand, not just how they feel about a course. We also discuss the Economic Education Network for Experiments (EENE) and why large, multi-institution studies matter for credibility. Our conversation highlights how economics classrooms can double as powerful research labs for understanding learning itself.In this episode, we talk about:* Doug’s path into economics teaching and education research* Why student learning assessments matt...

This episode looks at a JPMorgan survey of billionaires and what it reveals about how the ultra-wealthy think. We talk about their biggest fears, especially the fear of losing wealth, even when they have more money than they could ever spend. The conversation connects those fears to ideas from behavioral economics like loss aversion and risk tolerance. Along the way, we ask whether having more money actually makes people more cautious rather than more daring.In this episode, we talk about:* How many billionaires exist, and what their combined wealth adds up to...

Ticket prices are in the spotlight as the NCAA football championship and the upcoming World Cup push demand to extremes. We dig into why resale markets exist, why prices can explode, and why face value often has little to do with what fans actually pay. Using real examples from college football, the World Cup, and concerts, we talk through supply, demand, and who really benefits from ticket resale. Along the way, we wrestle with whether there’s a “better” system or if frustration is just part of the market.In this episode, we talk about:* Why na...

To kick off Season 4, we reflect on our personal and professional journeys over the past year. We discuss the challenge of sticking to goals like healthier living and academic productivity, sharing what worked and what didn’t. Along the way, we talk about prediction markets, resolutions, teaching in the age of AI, and how faculty think about setting goals under uncertainty.In this episode, we discuss:* What prediction markets say about the probability of a recession, and why those forecasts matter.* How our goals from 2025 held up and what changes are coming in 2026...

We reflect on what economics can teach us about work, technology, and the future. A new report by LinkedIn found that one in five Americans now work in jobs that didn’t exist in 2000. We consider the economic implications of new roles driven by technology, the gig economy, and changing workplace demands. We touch on the decline of now-obsolete jobs, and question how educators can help students prepare for an unpredictable employment future.In this episode, we discuss:* The surprising stat that 1 in 5 Americans have jobs that didn’t exist in 2000* What kinds of n...

College is often framed as the bridge between adolescence and adulthood, but how much should professors “step in” to guide student behavior along the way? In this episode, we dig into the economics of teaching choices: attendance policies, deadlines, nudges, and classroom rules. We reflect on how these decisions affect student outcomes and engagement, and whether support in the short run may come at the cost of long-run independence. In this episode, we discuss:* What paternalism looks like in college classrooms* Should attendance be required in higher education?* How paternalistic policies affe...

Behind every pint of beer is a surprisingly complex story about choices, local identity, supply chains, and a maze of regulations. This week, we sit down with Trey Malone of Purdue University to unpack the economics of beer. We talk about everything from tap lists and terroir to hop farmers, regulations, and what it really means to “buy local.”In this episode, we discuss:* How Trey’s research career evolved to include beer economics* The explosion of product variety in grocery stores and how beer exemplifies that* Why too many c...

College football is big business. While universities often talk about tradition, rivalries, and student spirit, the finances tell a story of massive contracts, enormous buyouts, and constant leadership churn. This week, Matt and Jadrian explore the economics behind college football coach buyouts and ask why schools pay millions to people who they consider bad at their job. We explore what these buyouts say about incentives, risk, and market competition in college sports.In this episode, we discuss:* Why coach buyouts are structured the way they are and what they signal.* How risk, reputation...

We break down the 2025 Economics Nobel Prize, which was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their “having explained innovation-driven economic growth.” We discuss why these contributions matter and reflect on the broader importance of understanding long-term economic growth. Along the way, we also share our own reactions and what stood out about this year’s selection.In this episode, we discuss:* The 2025 Nobel Prize in Economics and how it was split among three researchers* Joel Mokyr’s work on the conditions needed for technological progress* Philippe Aghion and Pete...

Let’s dive into a surprisingly tricky topic to teach: tax incidence. In this episode, we explore why this seemingly simple concept trips up so many students, how elasticity shapes “who pays,” and what strategies actually help the idea stick. It’s a candid mid-semester check-in that’s full of travel stories, fall-break frustrations, and creative teaching analogies.In this episode, we discuss:* Why tax incidence is frustrating to teach compared to other topics.* How elasticity determines the division of tax burdens between buyers and sellers.* Whether professors should “nudge” bette...

We explore what the looming demographic cliff means for colleges and universities. As the number of high school graduates begins to shrink, institutions are grappling with how to adapt, especially smaller and regional schools. We discuss which types of schools are most vulnerable and why elite and flagship universities may be somewhat insulated from the effects. We also look at the structural and financial implications this demographic shift brings to the future of higher ed.In this episode, we discuss:* What the demographic cliff is and where it came from* Why the decline...

Let’s dive into the unexpected legacy of Boris Yeltsin’s 1989 visit to a Houston grocery store. We explore how that moment shaped the Russian leader’s perspective on economic systems and why it's a favorite teaching example in economics classes. It’s a great introduction to consumer choice, abundance, and market economies, thanks to Yeltsin’s astonishment captured on film.In this episode, we discuss:* The story of Boris Yeltsin’s 1989 grocery store visit in Houston.* How the trip challenged his view of command economies.* How to use this story in an econom...

We sit down with Tom Flesher and Noah Trudeau to talk about their JET SET session on using escape rooms to teach economics and statistics. Escape rooms are built around core economics concepts like opportunity cost and trade-offs. But Noah and Tom have taken it a step further and infused class-specific content into the clues that students need to solve to escape. Noah’s experience is based on a digital escape room he has used as a final exam review, while Tom describes how he has incorporated in-person, puzzle-based activities into his day-to-day classes. Together, they highlight how gamification ca...

We dive into the sudden firing of the Bureau of Labor Statistics Commissioner following large downward revisions to the most recent jobs data. Everything is still pretty new, but we get a chance to talk about the scale of the revisions, the normalcy of such adjustments, and the potential implications of politicizing economic data. It's a first reaction to a surprising move with potentially big economic and institutional stakes.In this episode, we discuss:* The scale and context of recent BLS jobs data revisions* Why revisions are a normal and expected part of...