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Lulu Chen emphasizes that the true charm of economics lies in its practical application. It’s more than just theory; it’s a key to understanding how the world works. Economics offers a unique perspective, helping us analyze everything from market behavior to social competition and cooperation. This deep understanding inspired 11th graders Jocelyn, Chelsea, and Kate, who not only learned economic theory but also creatively applied it to real-world situations.

Jocelyn Xu started studying economics in 10th grade and quickly developed a strong interest in the subject. While preparing for her John Locke economics paper, she explored Adam Smith’s “invisible hand” theory from The Wealth of Nations. The theory suggests that individuals, while pursuing their own interests, can unintentionally promote overall economic growth and efficient resource allocation through an invisible guiding force.

Jocelyn explained, “This concept can be abstract for those new to economics, so I wanted to make it more accessible and fun.” Using her passion for drawing, she created animated videos to explain the theory. Each team member took responsibility for scripting, animation, and editing, making it a challenging but enjoyable experience.

 

Chelsea’s Exploration

Chelsea Chen, an 11th grader, has recently developed a strong interest in behavioral economics and product design economics. While studying A-level macroeconomics, she realized how closely macroeconomics relates to our daily lives, even though it focuses on entire economies rather than individuals. In her video, Chelsea explores the Engel’s Coefficient, a key indicator of income inequality that measures the proportion of household spending on food.

Chelsea explained, “Understanding Engel’s Coefficient made me think about how it affects society’s economic structure and relates to our everyday choices.” She also incorporated a fun story about food-related GDP from Lulu’s class to help her peers connect these complex economic concepts to real-life scenarios.

 

Kate’s Insight

Kate Wang, a student with a strong interest in development economics, has recently delved into game theory and applied it to business competition. She resonated with the Hotelling model, which explains why competing stores often cluster in the same location. This seemingly paradoxical behavior actually has a logical, strategic explanation. Kate believes that understanding this model helps us better grasp business strategies and the formation of social order in daily life.

Kate shared, “I faced challenges connecting theory to real-life situations while studying game theory. But through creating videos, I improved my editing skills and learned how to make complex economic concepts more accessible and understandable.”

Jocelyn, Chelsea, and Kate have not only learned economic theory in the classroom but also actively applied it through their social media platform, “巧克0经济学.” The account, named after their English initials, aims to make economic concepts accessible and understandable to a wider audience.

“巧克0经济学” presents complex economic concepts through illustrations, animations, and short videos, making them clear and easy to understand. Through this, the three students not only spark interest in economics but also enhance their creative and practical skills.