The Economics of The Office
Learning economics from the world's best boss
Textbook Tear
In this silly clip, we see Michael's disdain for economics and traditional learning. Michael abuses the trust of a student in ruining a textbook that clearly has value to the student.
Season 3 Episode 16 "Business School" Caution!
Candy Bars
In this clip, we see that Michael doesn't really understand very much about business or economics but he does have a clever way of explaining his limited knowledge through the use of candy bars!
Season 3 Episode 16 "Business School" Caution!
Write That Down
In this clip, Michael tries to explain the concept of profits and business decisions and the demand for paper. Clearly, Michael does not understand how technological changes have influenced demand for paper!
Season 3 Episode 16 "Business School" Caution!
Teaching of Economics (A20) Technological Change (O30)
Business School
Another example of why not to invest in multilevel marketing. Michael explains he “lost all of his money in a pyramid scheme” when he was an undergraduate. After that clip there are several discussions about business which I think are worth keeping and faculty can evaluate as they see fit.
Ungifting
This scene is about property rights and gift giving. Michael and Dwight try to prove that face to face sales work more effectively than new technologies and provide gift baskets for their clients. They decide to take the gifts back from a law firm when the firm does not elect to move their business to Dunder Mifflin. “Un-gifting” does not seem to be legal or appropriate but Michael and Dwight attempt to do this anyway. Michael exclaims “WHERE ARE THE TURTLES!” as he tries to get his gift back. (This clip was suggested by Jon Wilson, an undergraduate student at Kansas State University).
Season 4 Episode 2 "Dunder Mifflin Infinity"
Teaching of Economics (A20) Market Structure and Pricing (D40)
Cyclical Unemployment
Pam discusses her difficulty finding a job in a difficult economy.
Teaching of Economics (A20) Unemployment (J60)
Cyclical vs. Structural Unemployment
Michael quit his job (frictional unemployment) but finds out that the economy is in a severe downturn (cyclical unemployment). This demonstrates the idea that most workers are more willing to engage in a job search when cyclical unemployment is high ceteris paribus.
Season 5 Episode 14 "Two Weeks"
Teaching of Economics (A20) Unemployment (J60)
Michael Quits
Michaels quits his job with Dunder Mifflin. This example of frictional unemployment can be contrasted with examples of cyclic and structural unemployment that are shown later in the season. Thanks to Allison Anthony from the Maggie L. Walker Governor's School for suggesting this clip.
Season 5 Episode 20 "New Boss"
Teaching of Economics (A20) Unemployment (J60)