What's The Deal With Economics?

An article from Bloomberg shows the relationship between Seinfeld and economics, but is it sponge-worthy?According to many economists, it is. A website called yadayadayadaecon.com started by economists Alan Grant of Baker University in Kansas, and Linda Ghent and George Lesica of Eastern Illinois University relates the popular TV show to the study of economics, such as supply and demand from over 200 scenes from the show.Ghent says the students love the aid in helping explain the sometimes difficult to understand topics. "They may never have met a Soup Nazi, but they can relate to being in a situation where someone has market power over them. When George joins a book club to impress a girl and finds the reading too costly, his demand for a substitute good (the video of the novel) rises to ridiculous proportions. In the end, he finds that the movie and the book are imperfect substitutes," she said.It's a great aid for the students, and helps them become "masters of their domain.