Watch ‘Stranger Things’ and ‘Narcos’? UBCO’s Surprising Plan to Teach You Economics

Netflix is not just an entertainment outlet. It is a study of streaming success. But if you think Netflix sweats day in and out only for the acclaim, think again. The OTT platform always summons a cultural reset with its streaming arc. However, according to a UBCO study, Netflix has assumed a new role as an economics professor on board, thanks to shows like




Stranger Things




and



Narcos



.

Although Netflix’s impact on the world of entertainment is widely recognized, what enchantment does it now wield over the academic realm?

According to



UCBC Professor Dr. Julien Picault’s article, “Using Netflix for Economics Instruction,” featured in The Journal of Economic Education, discusses the benefits of incorporating streaming services into economic lessons. Watching



Netflix titles like



Stranger Things



and



Narcos



Can assist in simplifying intricate economic ideas. Although the results might not be universally applicable,



curated Netflix content can unlock economic insights, making the subject more tangible, relatable, and riveting for undergraduate students.

Students are already indulging in marathon viewing sessions of these programs. Consequently, Picault seeks to connect with students through their preferred streaming platforms and leverage popular culture to clarify complex economic ideas such as opportunity costs, supply and demand dynamics, and moral hazards. Additionally, this research presents EcoNetflix, an accessible online course developed by Picault along with colleagues at Marymount University. EcoNetflix consists of educational materials grounded in a worldwide collection of Netflix segments, thoughtfully selected to vividly illustrate economic concepts ranging from basic tenets to sophisticated theories.

Read More:

‘Maya Hawke, from “Stranger Things,” Steps Into the “Hunger Games”Arena in Upcoming Prequel Movie’

That said, how do



Stranger Things



and



Narcos



help the students?

According to Professor Dr. Julien Picault from UBCO, as featured in his article “Teaching Economics with Netflix” in The Journal of Economic Education, the content ranges from financial topics to societal critique.



Stranger Things



and



Narcos



can serve as an engaging addition to economics studies, fostering critical analysis. The research outlines that



Stranger Things,




which is about to come full circle



,



teaches a concept of disruptive innovation.

Picault takes examples of walkie-talkies, phone booths, and cassette players to emphasize how smartphones, a single technological tool, basically outdo all of them. This is what he means by



“creative destruction,”



a practice that makes old products outdated. As for



Narcos



,



Picault suggests it might be utilized to instruct students about ideas such as oligopoly and market dominance.



This bridge is not just for entertainment, make no mistake.



“We want to improve learning outcomes and show how economics applies to the world students already navigate,”



he said.

Related Articles

Read More:

Obsessed With ‘Stranger Things’? Netflix Has a Mission for You This May

What do you think of Netflix shows catalyzing economic studies? Let us know in the comments below!