In this episode of The Band of Traders, Kyle welcomes back Eric Mason, an economist with a sharp wit and a deep understanding of markets, trade, and economic policy. But this time, there’s a twist! Kyle and other traders took an actual Econ 201 final exam to see how their real-world market experience stacks up against textbook theory. The results? Surprising, hilarious, and oddly revealing.

Eric breaks down why traders dominated applied economic concepts but struggled with basic definitions, revealing how financial professionals process information differently than students in a classroom. They also dive into why opportunity cost means something completely different in economics than in finance, how tariffs actually impact trade, and the hidden economics behind movie theaters, monopolies, and cartels (yes, even OPEC and De Beers).

If you’ve ever wondered how much of your trading knowledge translates into formal economics… or just want to hear Kyle and the crew get humbled by a test, this episode is a must-listen.

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Eric:

Eric is a practicing labor economist, who currently works as a chief financial officer for the city of Quincy, Ma. His area of research focuses primarily on small business and macroeconomics trends. Eric has a special interest in historical economics, cliometrics and steers clear of ideological hardlines, preferring to use empirical analysis in his appearances.

TheInformalEconomist.com

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