EconGoneCountry

Supply and demand with a twang

Title: Champagne Night

​Artist: Lady A

Economic Concepts: Demand; Normal goods; Inferior goods; Tastes and preferences; Inflation; Escalator clause; Nominal; Real

Details: Everyone has heard stories about how things used to be cheaper.  With inflation though, the purchasing power 
of the dollar declines overtime.  In the song, it is clear that by living frugally, they are able to "make a twenty last like it's 1990".  This is a great way to introduce the idea of inflation to students, as well as 
nominal versus real values.  The lyrics indicate that good and services were cheaper in 1990 compared to today.  Using Think-Pair-Share, ask your students to calculate the amount needed in today's dollars in order to have the same purchasing power from 1990.

Throughout the song, Lady A lists all of the consumer goods which provide them high levels of utility, even though none of the items are fancy or luxurious.  "Don't need a crystal chandelier to have a real good time.  We're drinkin' beer on a champagne night" and then later "No, we ain't drippin' in diamonds.  We're getting' rhinestoned".   As income rises, the demand for normal goods (diamonds) rises while the demand for inferior goods (rhinestones) falls.  However, Lady A and their entourage may have a different
set of tastes and preferences from most individuals.      

Lyrics: 
The stars go out on the Sunset Strip
But after last call, ours still stay lit
Make a twenty last like it's 1990
Way out here where we're from
We don't say, "Ooh-la-la, Perignon"
Don't need no bottle service budget (no)
Got no money but we love it (woo)

Raisin' plastic cups to a life of luxury
C'est la vie on a Friday
We get dressed up in a blue jean tux
And we go where we don't hear the highway
Don't need doubles and bubbles
To get in all kinds of trouble
Out in the country
Don't need a crystal chandelier
To have a real good time
We're drinkin' beer on a champagne night
A champagne night

No velvet ropes in our hometown bar
Our VIPs are drinkin' PBR
No, we don't need a high-rise skyline view from the window
'Cause way out here (way out here)
Where we're from (where we're from)
We don't have to be fancy to have a whole lot of fun

Raisin' plastic cups to a life of luxury
C'est la vie on a Friday
We get dressed up in a blue jean tux
And we go where we don't hear the highway
Don't need doubles and bubbles
To get in all kinds of trouble
Out in the country
Don't need a crystal chandelier
To have a real good time
We're drinkin' beer on a champagne night
Champagne night

You'll never see us sippin' long-stem glasses
Even if we're in a Hollywood palace
We ain't on our own island
No, we ain't drippin' in diamonds
We're gettin' rhinestoned

Raisin' plastic cups to a life of luxury
C'est la vie on a Friday
We get dressed up in a blue jean tux
And we go where we don't hear the highway
Don't need doubles and bubbles
To get in all kinds of trouble
Out in the country
Don't need a crystal chandelier
To have a real good time
We're drinkin' beer on a champagne night   ​​​​