Over the past couple of years I have demonstrated how economics teachers can use the Premier League's Fantasy Football game to explain the concept of opportunity cost. My two previous attempts can be found here and here.
To repeat, opportunity cost is one of the most fundamental concepts in economics. Put simply, opportunity cost is what you give up to get something else. Fantasy Football has a clear budget constraint of £100 million pounds which makes it possible to consider the concept. While one might like to buy a Hazard, Sanchez and Kane, it may not be possible as 15 players in total must be purchased. What must one give up to afford these stars?
At this point in the season it becomes clearer which players are 'performing' as the game has predicted. The highest scoring team today is presented first below, while the most expensive is presented after this (note prices do adjust marginally with performance during the season).
8 of the best performers are also on the most expensive in their position list. Overpriced stars include the likes of Bellerin, De Bruyne, Ozil, Aguero and Zlatan. Food for thought for players of the game.