Film inflation activity: The Real Price of Being Home Alone

This festive piece offers an analysis of the economic themes hidden within the holiday classic "Home Alone," particularly focusing on inflation and its impact over the past thirty years. Using the film's memorable moments, such as the cost of pizza delivery and Kevin's grocery shopping, it explains the concepts of nominal and real prices, and the Consumer Price Index (CPI) as calculated by the Bureau of Labor Statistics (BLS). The discussion extends to how technological advancements and changes in product sizes affect prices, alongside the broader economic context of wage growth and challenges for families.

This is suitable for students without prior knowledge of inflation, so could be a nice taster if you begin macro after half term.

I have made a worksheet which challenges students to pick another film and work out estimates for the prices of 3 items both today and when the film is set. If you're after a festive activity, you could ask students to pick their favourite Christmas film, but the worksheet itself doesn't mention Christmas so you can use it any time of year. For example, you could ask students to choose a horror film for halloween. This might also work as an induction task for new year 12 students.

Inflation in Films.pdf

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