To the Lake is a Russian series following a group of individuals led by Sergey, fleeing an epidemic. Their goal is to hide on a remote island only known by Boris, Sergey’s father, until the epidemic is under control.
- Clip URL: https://criticalcommons.org/view?m=v6yrrTmqc
- Course Classification: Labor Economics, Microeconomics, Macroeconomics, Finance
- Concepts: Investment in human capital, Monetary and non-monetary costs, Risky investment, Nominal exchange rate.
- Background: Polina is addicted to alcohol and just finished a rehabilitation program in a facility. Lyonya, her dad, is picking her up to bring her home.
- Question 1: Define what an investment in human capital is. Provide two examples of human capital investment.
- Question 2: Why do economists consider rehab an investment in human capital? Why some believe that rehab a risky investment?
- Question 3: What costs are involved when somebody checks into a rehabilitation program?
- Question 4 (Let’s use data): Lyonya has to pay 52,902 Russian Rubles to cover Polina’s damages in the rehab facility. Compute the US dollar cost Lyonya had to pay to cover Polina’s damages (https://www.xe.com/ ).
- Clip URL: https://criticalcommons.org/view?m=K5nu2h8cx
- Course Classification: Microeconomics, Industrial Organization.
- Concepts: Price elasticities, supply and demand, First-degree price discrimination.
- Background: Sergey needs a ride out from the quarantine zone after getting his family in Moscow. He only has one option. It is to convince the truck driver to stay and wait 15 minutes.
- Question: Draw a supply and demand graph representing this situation, and explain the shape of the supply and demand curves in words. Discuss why Sergey ends up giving all the money he has.
- Clip URL: https://criticalcommons.org/view?m=3tfZcjH3C
- Concepts: Shortage.
- Course Classification: Microeconomics
- Background: Sergey and his group need gas to fill up the cars. However, gas is available only in very limited quantity.
- Question: Explain why we can deduce that there is a shortage in the gasoline market. Draw a graph.