Macro Essay Assignment
“The Wizard of Oz as a Monetary Allegory”
1) I believe the Wizard of Oz’s setting Kansas was chosen because of the location it has in
the United States. Considering the plot of the movie, Kansas was an ideal location due to the
high levels of tornados’. Looking at the movie from a director point of view, the believability of
a tornado happing in Kansas is more then likely. Now, if I were to look at the Wizard of Oz’s
setting and why the movie began and then ended in Kansas from more of a macroeconomic point
of view; I believe it was to show an example of a long run cost curve. A long run cost curve is
usually “U” shaped, the initial drop is the economies of scale taking effect and the initial increase
is the diseconomies of scale taking effect. These two scales create a general balance between
cost and revenue which I believe was the same balance between Kansas and Oz.
2) The film having many dominant female characters I believe was caused by Dorothy’s
imagination. All the female roles which were in Kansas had some sort of toll on the roles in Oz.
At the beginning of the movie I was able to see a lot of foreshadowing and the roles which where
going to be chosen later.
3) I think the reason why each of the three main characters where missing something was
due to them not using it before. So it’s not that they where missing it, it was more they didn’t
