Basic Economics

By Ipule Pipi Categories: Economics
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About Course

This course provides a comprehensive introduction to fundamental economic principles, drawing heavily from Dr. Thomas Sowell’s seminal work, “Basic Economics.” Students will explore key concepts such as supply and demand, price mechanisms, market structures, and the role of government in the economy. Through an engaging mix of theoretical frameworks and real-world examples, the course aims to demystify economic jargon and equip learners with the tools necessary to analyze everyday economic issues.

Topics will include the importance of incentives, the effects of market interventions, and the distinction between microeconomics and macroeconomics. Students will also gain insights into global economic systems, trade, and the impact of economic policies on society. By critically examining case studies and current events, participants will develop a nuanced understanding of how economic forces shape decisions and outcomes.

The course encourages active participation and discussion, fostering a rich learning environment where students can connect economic theory with practical applications. By the end of the course, learners will have a solid foundation in economics, empowering them to engage thoughtfully in discussions about economic policies and their implications for individuals and communities.

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What Will You Learn?

  • Fundamental Economic Principles: Understand key concepts such as scarcity, opportunity cost, and trade-offs.
  • Supply and Demand: Analyze how market forces determine prices and quantities in various markets.
  • Price Mechanisms: Explore the role of prices in signaling information and coordinating economic activity.
  • Market Structures: Differentiate between perfect competition, monopolies, oligopolies, and monopolistic competition.
  • Government Intervention: Evaluate the effects of taxes, subsidies, and regulations on markets and consumer behavior.
  • Incentives and Behavior: Examine how incentives influence decision-making for individuals, businesses, and governments.
  • Microeconomics vs. Macroeconomics: Understand the differences between individual economic units and the economy as a whole.
  • Global Economics: Gain insights into international trade, exchange rates, and the impact of globalization on local economies.
  • Economic Policies: Analyze the implications of fiscal and monetary policies on economic stability and growth
  • Critical Thinking Skills: Develop the ability to critically assess economic arguments and policy proposals using real-world examples.

Course Content

What is Economics?

  • Breaking the Surface
    00:00

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