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
.
While Netflix’s contribution to the entertainment capital is common knowledge, what spell has it now cast on the academic field?
UBCO flexes a unique Economics study guide with Netflix’s Stranger Things and Narcos
Netflix titles like Stranger Things
and Narcos
can help ease the complex economic concepts. While the outcome may not apply to all, curated Netflix content can unlock economic insights, making the subject more tangible, relatable, and riveting for undergraduate students.
Students are already binge-watching these shows. So, Picault aims to meet students where they stream and use popular culture to demystify economic concepts like opportunity, cost, supply and demand, and moral hazard. Plus, the study introduces EcoNetflix, a free online course that Picault and collaborators at Marymount University have launched. EcoNetflix comprises teaching guides based on a global library of Netflix clips, expertly curated to bring economics to life, from foundational principles to advanced theories.
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That said, how do Stranger Things
and Narcos
help the students?
Where entertainment meets economics: A UBCO study of Stranger Things and Narcos
As per UBCO professor Dr. Julien Picault’s Teaching Economics with Netflix, published in The Journal of Economic Education, from finance to social commentary, Stranger Things
and Narcos
can be a dynamic supplement to economics coursework, encouraging critical thinking. The study details 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a practice that makes old products outdated.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 explains it could be used to teach concepts like oligopoly and market control.
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.
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What do you think of Netflix shows catalyzing economic studies? Let us know in the comments below!