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Introduction to Economics

23 Lessons 2 hours

Learn about the fundamental concepts and theories in economics, including scarcity, specialization, trade, and the use of models to understand economic issues, as well as the history and importance of the subject in today’s globalized world.

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Introducing Economics

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What is Economics, and Why is It Important?

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The Problem of Scarcity

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The Division of and Specialization of Labor

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5

Why the Division of Labor Increases Production

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6

Trade and Markets

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7

Why Study Economics?

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8

Key Concepts and Summary

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9

Microeconomics and Macroeconomics

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10

Microeconomics

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11

Macroeconomics

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12

Key Concepts and Summary

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How Economists Use Theories and Models to Understand Economic Issues

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14

Key Concepts and Summary

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How Economies Can Be Organized

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Regulations: The Rules of the Game

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17

The Rise of Globalization

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18

Key Concepts and Summary

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19

The Use of Mathematics in Principles of Economics

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Algebraic Models

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21

Growth Rates

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Displaying Data Graphically and Interpreting the Graph

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23

Key Concepts and Summary

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