Economics Happy Hour Podcast

America turns 250 this year, so we take a step back to ask how the United States became one of the world’s richest economies. We explored the institutions, policies, and cultural factors that fueled economic growth, from entrepreneurship and corporations to highways and property rights. Along the way, we debated which overlooked policies deserve more credit and which challenges could shape America...

The World Cup has brought millions of international fans to North America, and many are discovering aspects of American life that locals take for granted. Matt and Jadrian explore why visitors are fascinated by things like massive convenience stores, endless product variety, and regional chains. They also dig into the economics behind World Cup ticket prices, player compensation, and the surprisin...

The 2010s were an unusual economic decade as there was a long recovery from the Great Recession without a major economic shock in the United States. We look at the trends that defined the era, including falling unemployment, the rise of smartphones, the growth of the gig economy, and the emergence of Bitcoin. Along the way, we debate whether Obamacare was the decade’s most important policy and whe...

The 2020s have already delivered one of the strangest economic decades in modern history. We unpack how the pandemic reshaped work, inflation, housing, consumer behavior, and even the way economists think about recessions. We debate whether the pandemic or AI will ultimately define the decade, revisit the policy decisions that still shape the economy today, and talk through why everything from use...

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, a...

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 entrepr...

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...

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...

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...

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-ru...

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 conversatio...

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 mon...

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...

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 dis...

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 pre...

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...

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 ca...

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 bu...

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 t...

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: * Wh...

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...

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 disc...

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 di...

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 eco...

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:...