King of Boys: The Return of the King is Netflix’s first Nigerian television show. The series follows former mafia leader Eniola Salami after her five-year exile from Nigeria. Upon her return, she decides to get involved in local politics and enters the race to become the next Governor of the state of Lagos.
Concepts: Technological progress, creative-destruction process
Background: The editor of the Conscience explains that readers prefer to read the news online rather that on a traditional newspaper. Information technologies (e.g., internet) have made this transition possible. Technological progress is an essential component of productivity and is usually considered positive for a country's economy.
Question: Discuss whether technological progress actually benefits everybody in society. Are there potential losers of technological progress?
Concepts: Opportunity cost of time, best response strategy
Background: Eniola is campaigning to convince people to vote for her. However, as she is not the only candidate, other aspirants and their teams could potentially react to reduce Eniola's campaign's efforts.
Question: What could be some strategies Eniola's competitors could implement in this situation? Can the strategies be applied at the same time? How could they select the appropriate strategy(ies)?
Concepts: Opportunity cost of time, labor participation
Background: Journalist Dapo Banjo decides not to investigate a time-sensitive matter, to take care of his son instead. Conciliating career and childcare is a dilemma most families must navigate.
Question: Using course concepts, discuss how having to provide childcare impacts labor market decisions.
Concepts: Game theory, prisoner's dilemma
Background: Both Eniola and Jumoke have information that could negatively affect the other. Though it seems clear that if only one discloses the information about the other, she would enormously benefit.
Question: How do economists typically represent this situation? What does game theory predict in such a situation? Should none of them, one, or both reveal information?