Economics Happy Hour Podcast

This week, we dive into the economics behind rewards programs and credit card perks. We explore how loyalty schemes influence consumer behavior and how companies use them strategically. The episode covers travel points, airline upgrades, hotel loyalty tiers, and their broader economic implications. We also consider who really foots the bill for all those “free” perks.In this episode, we discuss:* Why companies offer points, perks, and loyalty rewards, and how they profit from it* The trade-offs consumers make to stay loyal to specific brands or services* How status tiers shape trav...

Dive into the economic concepts that have helped with the recent explosion of sports betting in the United States. Explore how sportsbooks set odds, the role of information in creating an edge, and why betting markets share some similarities with prediction markets. We briefly unpack the effects of the 2018 repeal of PASPA and discuss how technology has transformed gambling behavior. This week’s conversation highlights both the fun and complexity of modern sports betting.In this episode, we discuss:* How sports betting odds are set and why sportsbooks aim to balance bets.* Why so...

In this episode, we explore the economic concepts behind Bobby Bonilla Day, when the former MLB player annually receives a $1.19 million check from the Mets even though he hasn’t been on the roster since 1999. We unpack how deferred compensation works and whether the Mets’ decision makes financial sense. We dive into annuities, interest rates, and the assumptions that shape financial decisions. Using behavioral economics and finance concepts, we ask: Was this a smart move for The Mets and for Bonilla, and what lessons can we take from it?In this episode, we discuss:* Why the...

Matt and Jadrian explore several aspects of studying abroad. These include the economic benefits students gain, how study abroad programs differ from a typical vacation, and why these experiences often have a lasting impact on students. Their conversation includes insights from their own experiences as students and faculty leading trips overseas. They also examine the financial and educational considerations that shape access to these programs.In this episode, we discuss:* Why study abroad isn’t just an extended vacation * How cultural immersion challenges students and promotes maturity * The role of faculty in...

In this episode, we look at how economists think about the election of a new Pope. With the recent selection of Pope Leo XIV, Matt and Jadrian break down how the conclave’s voting rules, like the two-thirds supermajority, can shape outcomes. They connect it to economic ideas about group decision-making, from majority rules to the challenges of reaching consensus. It’s a timely example of how even religious elections follow patterns that economists love to analyze.In this episode, we discuss:* How economists analyze voting rules* The concept of majority vs. supermajority deci...

Matt and Jadrian explore the economic power of Broadway's biggest awards: the Tonys. We explain how Tony nominations influence ticket sales and why timing matters for a show's success. They also discuss some of the ways that theatre houses price discriminate to fill as many seats as possible each night. It's a behind-the-scenes look at how Broadway's top prizes shape what audiences see—and what producers prioritize.In this episode, we discuss:* Why Tony nominations matter for Broadway shows' financial success* The timing effect: why opening closer to the nomination season helps...

What do professors actually do all summer? In this episode, Matt and Jadrian break down the rhythm of the academic calendar and take listeners behind the scenes of a professor’s summer months. They unpack the not-so-hidden workload that fills the break between semesters, from grading finals and writing reports to planning research and finding time to unwind. If you've ever wondered whether summer is really a vacation for academics, this one’s for you.In this episode, we discuss:* How the end-of-semester workload shifts from teaching to administrative tasks* The behind-the-scenes responsibilities prof...

This week, we explore how the children's show Bluey delivers surprisingly rich lessons in economics. We're joined by Lauren Shifflett and Stephen Day, who explain how the show introduces concepts like scarcity, decision-making, and even the circular flow of money. Why Bluey? Lauren and Stephen recently co-authored Bluey-conomics: It's Not All About the Money, a new article showing teachers how to bring these episodes into the classroom. Whether you're a parent, educator, or econ nerd, you'll see Bluey in a whole new way.In this episode, we discuss:* Why Bluey resonates with both...

What could a research arc look like? Matt shares the story of his career pivot from a pure experimental economist to one that includes researching on teaching economics with pop culture. Matt’s early research on cigarette packaging and sin taxes measured how graphic warning labels influenced consumer behavior. His most recent work? A paper on the game show Cutthroat Kitchen that explores how people value the prestige of winning over the money they win. Throughout the episode, Matt reflects on what drives his research choices and how his interests have evolved.In this episode, we discuss:...

Are pets a financial luxury or a household necessity? Matt and Jadrian break down the economics of pet ownership—from the true cost of bringing a furry friend home to the surprising ways people go into debt for their pets. They dig into the "adopt don't shop" debate, the business of pet breeding, and why vet bills can feel a lot like human healthcare costs. Whether you're a pet owner or just curious about the billion-dollar pet industry, this episode sheds light on the financial decisions behind our four-legged companions.In this episode, we discuss:* Th...

Spring break isn't just a vacation—it’s an economic event. This week, we consider the potential impacts of spring break on destination economies, from the businesses that rely on tourism to the unintended costs cities face when hosting thousands of partygoers. We discuss how destinations like Miami Beach have pushed back against the influx of spring breakers, while other locations actively court the seasonal business. Plus, we break down common misconceptions about the true economic benefits of spring break spending.In this episode, we discuss:* The economic impact of spring break on popular destinations and...

Should the U.S. eliminate the penny? In this episode, we dive into the economics of keeping or removing the one-cent coin, weighing its production costs, impact on consumers, and whether rounding transactions would make a real difference. We explore arguments for and against, from inefficiencies at the cash register to the role of small change in charitable giving. We also discuss how other countries have handled similar transitions and whether the U.S. is ready to follow suit.In this episode, we discuss:* The cost of producing a penny and whether it outweighs its...

Ever wonder what a professor's schedule really looks like? In this episode, Matt and Jadrian lift the hood on the academic calendar, from the chaotic first weeks of the semester to the ebb and flow of research, teaching, and service. Matt also shares his early experiences on sabbatical—how it compares to summer break, whether he misses teaching, and how he's spending his time. Plus, we dream up the ultimate sponsored professor title (Jersey Mike’s, call us!).In this episode, we discuss:* Why the first two weeks are the busiest for professors.* How...

Regular listeners will know we love teaching economics, but Matt and Jadrian are also researchers! In this episode of Economics Happy Hour, Matt asks Jadrian about some of his research on sports economics. The two discuss the impact of geographic location on sports team attendance, drawing insights from research on Major League Soccer, and explore the relationship between college sports and binge drinking, analyzing how March Madness affects student alcohol consumption. The results are fascinating as is the field of sports economics in general.In this episode, we discuss:* How proximity between sports teams affects...

In this kickoff to Season 3, Matt and Jadrian share their personal and professional goals for the new year, focusing on growth and balance. They reflect on lessons learned from the past year and discuss how they aim to improve their teaching, research, and outreach efforts. The duo also unveils exciting podcast plans for 2025, including new guests, deeper dives into economic topics, and interactive segments. We hope this will be a motivational conversation to start the new season.In this episode, we discuss:* How this academic semester felt different than years past* Personal and...

In our shortest episode yet, we take a fun dive into our Spotify Year in Review for 2024. Join us as we share our live reactions to the data and reflect on what made this season special. From holiday gift ideas to exploring big topics like institutional power and Halloween economics, Season 2 was filled with great discussions and a lot of memorable moments.We’re incredibly grateful for your continued support and engagement. Your enthusiasm keeps us going, and we’re excited to bring you even more great content in 2025. Stay tuned for the launch of Season 3 on Janu...

Looking for the perfect holiday gift for the economist in your life? There are thousands of gifts you could buy someone you love, but what do you get for the person in your life who LOVES economics? Matt and Jadrian share their annual gift-giving guide, packed with creative ideas for anyone passionate about economics. From thought-provoking books to quirky tools that connect to economic concepts, this guide provides a few suggestions to make your holiday shopping easier. Whether you're buying for a student, professor, or economics enthusiast, there's something here for everyone!In this episode, we discuss:<...

Matt and Jadrian discuss the concept of price discrimination and how it’s taught in economics classrooms. They highlight some real-world examples like student discounts, movie ticket pricing, and differential college tuition to highlight how businesses maximize profits by charging different prices to different customers. Jadrian shares his excitement about teaching new methods like the hurdle approach, which explains how businesses determine discount levels to attract customers. Tune in for a fun and relatable look at how pricing strategies impact everyday life!In this episode, we discuss:* How price discrimination works to charge different prices to...

There are a lot of great economists providing meaningful content. There are so many people doing great work, but who’s worth the time to check out? We discuss a few people who might not be household names but are definitely worth following. Our list includes both traditional academics and media-savvy economists who offer unique perspectives on economics through podcasts, YouTube, TikTok, and beyond. They are working to make economic concepts accessible and engaging for anyone curious.In this episode, we discuss:* Economists on social media who are breaking down complex concepts through relatable and so...

It’s spooky season, so Jadrian and Matt are lightening the mood by talking Halloween economics! They dive into everything you wanted to know—and maybe things you didn’t know you wanted to know—about how economic concepts like supply and demand, behavioral incentives, and scarcity play out during Halloween. Tune in for a fun conversation on the unexpected economics behind costumes, candy, and more.In this episode, we discuss:* How limited-time Halloween goods teach us about supply, demand, and seasonal markets.* The economics behind Halloween pop-up stores and why they thrive during t...