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These are the best new articles, videos, podcasts, and other resources we have found to teach elasticity. They bring economics to life by showing students real-life examples and current events.
 

News Articles

(Listed from most recent to oldest)

Costco says its been lowering prices despite increasing membership fees | Quartz (Sept. 27, 2024)
In case you were wondering, demand for chicken tenderloins at Costco is elastic.

Private school tuition hikes have surged since Oklahoma tax credit began | The Oklahoman (Aug. 13, 2024)
No matter who legally pays, the tax is borne by the more inelastic party. The reverse is true for subsidies. More of the benefit will go to the more inelastic party, in this case it the inelastic suppliers of private education.

Barcelona ending apartment rentals by foreign tourists | CNN (June 24, 2024)
Can you solve a housing elasticity problem by legally decreeing a downward demand shift? Barcelona wants to try.

Here’s why Valentine’s Day candy is so expensive | CNN Business (Feb. 13, 2024)
Candy manufacturers bet that your demand for Valentine's-specific candy was inelastic this year.

PepsiCo signals demand hit from price hikes with rare sales decline | Yahoo Finance (Feb. 9, 2024)
Revenue for PepsiCo fell for the first time in 14 quarters after consumers responded to a 9% average price increase. Unit purchases declined 7-8%, while volume declined 4%.

Taxes on sugary drinks cut consumer sales by 33%, study says | CNN (Jan. 6, 2024)
Sugary drink demand is unit elastic according to a study of 5 city sugar taxes

US pork producers in 2023 are looking at their least profitable year on record | Quartz (Dec. 12, 2023)
20% of Americans say they would love to eat bacon every day. But record high bacon prices have consumers quickly shifting away from bacon and other pork products.

Why iPhones Don't Get Discounts in the US Unlike Other Countries | Make Use Of (Apr. 4, 2023)
Apple’s pricing strategy varies by country. Do differences in customer price elasticity explain why?

Chocolate is having a moment | CNN Business (November 9, 2022)
Can you live without chocolate? According to this article, consumers are not very sensitive to changes in the price of chocolate: its price elasticity of demand is about -0.4. The article could be used to discuss elasticity, changes in demand, and substitutes.

Disney’s theme park price hike nets more profit from fewer visitors: Report | Fox Business (August 28, 2022)
Disney’s theme parks increased prices and introduced a Genie+ phone app which allowed visitors to skip lines for some attractions. Although there have been fewer visitors, many families are willing to pay more to experience the magic. Disney even enjoyed record revenue in spite of the higher prices. A fun example of elasticity, the relationship between prices and revenue, and consumer surplus.

Massive response to sale prompts Build-A-Bear to shut down lines, offer vouchers | CNN (July 12, 2018)
The "overwhelming" response to a sale at Build-A-Bear prompted the retailer to turn away customers waiting in long lines outside its stores. Ask your students if they can infer anything about the elasticity of demand.
Resource: Worksheet

 

Videos

Simple Math Trick that Saved Google | Economics Street Preacher
Learning to think in terms of percent changes instead of absolute changes could land you a job as Google’s chief economist.

What The Tooth Fairy Tells Us About The Rising Cost Of Parenting | Planet Money
There’s no denying it - the price of a going baby tooth is increasing way faster than the inflation rate. Why is it such a good time to be a toothy kid? It all boils down to the income elasticity of demand.
Resource: Worksheet

Elasticity of Supply: Why Housing is Unaffordable | MRU
Find out how the elasticity of supply can explain housing markets.

Shark Tank: Pogo Sticks and Purses | Critical Commons
Translate the advice the sharks give to entrepreneurs into elasticity using the worksheet below. Thanks to Charity - Joy Acchiardo for posting these great clips!
Resource: Worksheet

The Simpson’s: Elephant Rides | Critical Commons
Homer Simpson loses all of his customers because he doesn’t understand the elasticity of demand.
Resource: Worksheet

Podcasts

Moonshine Stimulus | Planet Money 
Did alcohol consumption fall during Prohibition? This episode explores what happens when a relatively inelastic good gets banned.
Resource: Worksheet

Additional Resources

Multiple-Choice Questions | MRU

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