Mai Vo
Mrs. Straub
B1 Economics
15 May 2015
Economics in the Long Run
T-minus three months until cross country runners are lined up in their assigned boxes and ready to bolt at the sound of the gun. As spectators look down the line of runners, they see bright spikes and trainers, mobs of identical uniforms, Nike swooshes or Saucony flows or Mizuno Runbirds, leg sleeves or braces, and determined faces dripping with sweat. Cross country is more than running; it is a sport of opportunity costs, positive and negative externalities, trade-offs -- well, in the long run, it is all about economics.
Before the season starts, athletes should already be prepared for a bare minimum of 25 miles per week. The opportunity costs due to failure to train pre-season include, but are not limited to, extreme fatigue, higher susceptibility to injury, and poor health. Running requires a decent pair of trainers, a watch, shorts, t-shirts, and, as Coach Kashian would say, guts. On average, runners spend $120 on a pair of trainers (“Facts”). While the high cost may require a trade-off, it is worth it. Some may even say that quality trainers are an inelastic good. Poor trainers or shoes that do not fit properly can cause negative externalities, such as injuries, that outweigh the cost of adequate trainers. As long as athletes train and dress correctly, running is almost bound to reap benefits.
Running has various health and life advantages such as improved heart health, stronger physiques, and lessened chances of mental disorders. Furthermore, people who run “have better immune systems and [therefore, are] less likely to get sick” (Bakken). Additionally, running releases endorphins, the happy hormone, which helps prevent or reduce depression. Who knew therapy could be so cheap? As people get older, their miles of running may be rewarded with fewer trips to the hospital or doctor and a longer life expectancy. As a result, runners may not need to pay as many medical bills and, therefore, will not have to pay as many taxes. Although the government may not receive that revenue, the economy will not decline or go into a recession due to less medical demands. Plus, there will be more money in the runner’s pocket.
Cross country is not a costly sport. Simply, grab the perfect trainers and run the distance to improved health and stronger bodies. The most expensive part will probably be the food from all of the pasta parties. The government probably loves cross country for the revenue they receive from sales taxes on the pounds of pasta and gallons of chocolate milk. Between a toned physique, extra happiness, colorful shoes, and delicious carbo loads, the positive externalities are endless. In the long run, cross country is the best way to go!
Bibliography
Bakken, Marius. "45 Mind Numbing Facts, Figures and Statistics About Running." The 100 Day
Marathon Training Blog. 19 Jan. 2014. Web. 18 May 2015.
"Exercise and Depression: Endorphins, Reducing Stress, and More." WebMD. WebMD. Web.
19 May 2015.
"Facts & Trivia About Running Shoes." - Ragged Mountain Running Shop. Web. 18 May 2015.
"Running Just 5-10 Minutes a Day Could Increase Life Expectancy." Medical News Today.
MediLexicon International. Web. 18 May 2015.
Great job relating cross country to economics! It's kinda crazy how many links there are between economics and running. Based on your evidence, it looks like there might be more positive outcomes than negative outcomes in cross country. Of course one possible risk is getting injured, which can be very costly because of doctors appointments and physical therapy bills. Not to mention it can be very detrimental emotionally and mentally. It'd be interest to know the probability of getting injured as a cross country runner, but based on your essay it seems like it's worth the risk.
ReplyDeleteThis is a great post. Clearly a long-distance runner most perform marginal analysis in order to decide what kind of running shoes to purchase. The better the shoes, the better the chances might be of performing better. The time invested in training however, might carry a greater significance, as the shoes will only carry the runner so far.
ReplyDeleteIt is true that cross country is associated with many costs, but as with all sports and activities, there are the explicit and the implicit. The explicit costs that you outlined such as shoes are very clear but it is the implicit costs that will get you. They include forgone opportunities such as missed social events due to engagement in your sport(s) of choice.
ReplyDeleteI really like how you related a sport you love to economics. It really shows how economics can relate to everyday life. I agree with Sam about how he mentions the implicit costs. I also play two very demanding sports that cause me to loose social time due to practices, games and other events relating to the sport. Although there are many benefits to sports, there are some costs. As long as the benefits outweigh the costs, you should do the sport! It is true that sports increase the amount of total revenue, probably why they are so popular! This not only benefits us as a healthy, active person but the economy as well
ReplyDeleteI think one of the best things about running is that not only does it provide means of physical activity and well being, it is essentially free. You don’t have to pay for expensive private lessons or gym time, you can go out into your neighborhood or a local park whenever you wish. Also, it is a lifetime sport and something that entire families can do together, which provides added incentive. Not to mention, activewear generates large amounts of revenue as, for example, Nike and other firms charge so much for their products. Of course, the more serious you are about the sport, the more you will likely invest (literally) in it by buying nicer shoes, racing spikes, GPS watches, etc. However, the fact that anyone can go outside and run any distance they see fit makes running a very appealing and easy to get involved with.
ReplyDeleteYour claim that running essentially makes people healthier due to the release of endorphins is quite interesting. The fact that people are benefiting both short term, getting in shape, and long term, the endorphins, seems like a good deal. Although running is also hard on the joints which can cause more problems and send people to the doctor’s office more. It’s an opportunity cost that someone must be willing to take when they take on running because there are also benefits as well which were the ones you mentioned.
ReplyDeleteI never would have realized all of the connections between economics and Cross Country Mai! Appropriate training shoes are essential for a successful season, so running shoe stores surely experience large increases in demand in the fall, so they must plan increase their supply around this time each year. Only a runner can fully understand the importance between Cross Country athletes and their shoes, making them an inelastic good, as you described. Lastly I definitely would agree that Cross Country is definitely worth any trade-offs and negative externalities that one may experience from the hardships, because it is still undoubtedly the greatest sport of all time.
ReplyDeleteI think many people, including myself, underestimate the cost of running for sport. It seems simple enough to only need some athletic clothes and a pair of trainers. However, the wear and tear of mileage on these nondurable goods means regular replacement cost. Also, race fees can be fairly high. While cross country at PHS only charges a fee of $50 for the 8-10 races of the season (a great deal that everyone should take advantage of), road races for the general public -- from 5ks to ultramarathons-- charge hefty amounts ranging from the fifties to the hundreds. Of course, many people pay that much to attend sporting events, such as Packer games, in which they don’t even get to participate. Also, they don’t get the nifty medals and gear bags that most races give out.
ReplyDeleteThis was such a cool post! I loved how you used the economic terms to relate to something you love-- running! It was really interesting to see the economic side of cross country. Ashton's comment was interesting too, that running cross country for the schools, is more cheaper compared to running publicly.
ReplyDeleteYou started out the post by saying: " T-minus three months until cross country runners are lined up in their assigned boxes and ready to bolt at the sound of the gun." I really like how you started this out. I like how you said that running can help improve life expectancy and I am glad that I am in track because now I am going to live forever ha just kidding. I also like how you talked about all of the positive and negative externalities of anything from the shoes to pasta. Also I like how you talked about how runners don't have to pay as many taxes because they don't take as many trips to the hospital.
ReplyDeleteI thought it was really interesting how much running costs because, most people think that you don't really need anything to run. However the cost of shoes and braces for injuries and all of these items add up to be a lot of money. Running helps blow off steam and is very healthy for the body, also many people do not like to run, many people describe it has a love hate relationship because of its pros and cons. I really liked how you helped open the eyes to many people of what running truly is.
ReplyDeleteMai Pie, I loved this topic and your connections to econ. I know how passionate you are about running, so this post made me very happy to read! I love the fact that you wrote about food! Were you thinking about me when you were writing? Just kidding! But anyways, I loved that you related running to health, money, and food, all while talking about economics. You did a fantastic job!
ReplyDeleteThere are opportunity costs in everything we do every day, and running is no different. Nice, comfortable track shoes to enhance performance on long distance runs can have great benefits in more than just performance, but the opportunity cost of buying expensive shoes may come in the form of a lack of other equipment such as clothing that one might buy to improve their time. Everybody utilizes marginal analysis and runner do this through their purchases and what combination of goods that fit their budget can enhance their performance the greatest.
ReplyDeleteI really liked your post. It doesn't surprise me that running releases endorphins because of how much of a positive impact running has on so many people's lives. I would disagree that trainers are an inelastic good, however. If your entire market was cross country runners then I would agree, except you have to take into account the whole market. When you look at everybody it would be very likely that a slight change in price would make it more likely for a consumer to purchase a different brand or product.
ReplyDeleteI thought your post was very interesting. I really liked how you connected cross country to economics. I had no clue about all of the benefits running has on people's lives such as having a better immune system and being happier and that running can help you in the future by not having to go to the doctor as much. Overall this was a great post!
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