Episode Description
This episode we tackle Utility: the keystone concept explaining why consumers choose what they choose. What is utility? This discussion explores differing perspectives on the fundamental idea, digging into how economists model human desire with tools like indifference curves, preference maps, and the marginal rate of substitution. The episode also examines core assumptions (like "more is better") and the constraints that bind everyone, like the all-powerful budget constraint, to question if humans are simply "utility maximizers."
Economics is Metal!
Music: Darasuum - Drown
Hosts: Josh Goddard & David Ingram
Producer: David Ingram