- published: 08 Jul 2015
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Economics is the social science that describes the factors that determine the production, distribution and consumption of goods and services.
The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, "house") and νόμος (nomos, "custom" or "law"), hence "rules of the house (hold for good management)". 'Political economy' was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" to establish itself as a separate discipline outside of political science and other social sciences.
Economics focuses on the behavior and interactions of economic agents and how economies work. Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies).
In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started! Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica ...
Economics 101 -- "How the Economic Machine Works." Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, "How does the economy really work?" Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur. To learn more about Economic Principles visit: http://www.economicprinciples.org. [Also Available In Chinese] 经济这台机器是怎样运行的: http://www.youtube.com/watch?v=-ZbeYejg9Pk [Also Available In Russian] Как действует экономическая машина. Автор: Рэй Далио (на русском ...
Recorded on January 3, 2011 Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst College. Now a senior fellow at the Hoover Institution, Sowell has published more than a dozen books, the latest of which is a revised and updated edition of his classic volume, Basic Economics. "Through its various editions," Sowell writes, "the fundamental idea behind Basic Economics remains the same: Learning economics should be as uncomplicated as it is informative." Here, Sowell seeks to uncomplicate some of the economic issues confronting the country today, from the financial crisis and the role of the Fed to the economics of health care and trade imbalances.
http://economicsdetective.com/ The typical first-year student walks into his first economics class with very little idea of what economics is. He might have heard something like, "economics is the study of money", or "economics is another word for accounting", or "economics is hard, don't take that class", but none of those are true. "Economics is the study of the use of scarce resources that have alternative uses." That's the classic definition of economics. Basically, there are people, and people need resources to fulfil their desires. These resources cannot be infinite, but the desires can be, so people need to make choices about how to use their scarce resources. Economists study these choices. All economic questions fall into one of two categories: positive and normative. Pos...
Professor Amos Witztum provides an introduction to economics at the LSE Kick Off Day for students studying by distance learning through the University of London International Programmes in September 2011. To find out about gaining a University of London qualification with academic direction by LSE through distance learning visit: http://www.londoninternational.ac.uk/lse
Basic introduction to what microeconomics and macroeconomics study. A bit on Adam Smith. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/v/law-of-demand?utm_source=YT&utm;_medium=Desc&utm;_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, ada...
This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life. As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September. Litan currently is a non-resident senio...
We talk a lot about Keynesian economics on this show, pretty much because the real world currently runs on Keynesian principles. That said, there are some other economic ideas out there, and today we're going to talk about a few of them. So, if you've been aching to hear about socialism, communism, the Chicago School, or the Austrian School, this episode is for you. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob A...
Like the Austin Institute on Facebook: http://bit.ly/AtxInstitute Follow the Austin Institute on Twitter: http://bit.ly/AItweet The Research: http://www.austin-institute.org/ai-research-animates This Research Animate pulls together some of the key sexual economics arguments made by social scientists, including Roy Baumeister, Kathleen Vohs, Timothy Reichert, Mark Regnerus, and George Akerlof. Essential to the mission of the Austin Institute is the dissemination of both thought-provoking and rigorous academic research on family, sexuality, social structures and human relationships. In order to engage a wider audience, we are developing select research projects into a medium amenable to our digital age.
Economics project
Basic Economics is a citizen’s guide to economics-for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind any kind of economy-capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.
Piketty, arguably the world’s leading expert on income and wealth inequality, does more than document the growing concentration of income in the hands of a small economic elite. He also makes a powerful case that we’re on the way back to ‘patrimonial capitalism,’ in which the commanding heights of the economy are dominated not just by wealth, but also by inherited wealth, in which birth matters more than effort and talent,” wrote Paul Krugman in The New York Times. Krugman and his fellow Nobel laureate Joseph Stiglitz (author of The Great Divide) join Piketty to discuss the genius of economics. Subscribe for more videos like this: http://bit.ly/1GpwawV Facebook: http://facebook.com/92ndStreetY Twitter: https://twitter.com/92Y Tumblr: http://92y.tumblr.com/ Instagram: http://Instagram.com...
Dear students, Learn ECONOMICS in a easy way... learn and score. The sum is of INTRODUCTION TO MICRO ECONOMICS CHAPTER: 1, STD.: 12TH, ECONOMICS Textbook of Maharashtra State board. CWT EDUCATIONAL CHANNEL for nursery to 12 std man behind B.ALAM PATHAN must watch and please "LIKE" and "SUBSCRIBE" and thanks for watching economics course economics study online economics course study economics
This is a recording of the debate hosted by the LSE Economic History Department, in collaboration with the LSESU Economic History Society and the LSESU Economics Society. http://lsesueconomichistory.co.uk/ http://lsesueconomicssociety.com/ Speakers: Proposition Team - Lord Robert Skidelsky & Dr. Ha-Joon Chang Opposition Team - Prof. Steve Pisckhe & Prof. Francesco Caselli Chair - Professor James Foreman-Peck The LSE is currently the only institution to have a separate EH department. We want to encourage students and academics alike to rethink the methodologies used to explain how our world works. Do we use the theoretical and econometrical method to create models with assumptions to distil the complexities of human nature and produce measurable results? Or do we use the historical p...
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(Verse)
Welcome to economics, let’s now discuss the numbers,
The trap is more than racism, just know the class of
incession
Like there was never sum us, youngers hugging their
mommas,
And there is bad that they say the tool is the small
investment.
But with the debt and the struggling shawty working the
spit in
If they don’t take care of bills will be back to the
strippin
But she no different from the all street cats hustling
Selling dreams for green, having greed and hid the
convict.
Face painted white with the blackest color life on the
line
But what you give for the ass and money
The money before to get to dead presidents
Like the rims in these friends in the seven this
Vietnam at a glance through a better lens
Lost his partner and his fucking mind ever since.
Since Dallas made nothing but since
I’m dreaming so much bigger that I stood on cover in
A red porcupine, pinch in my tent, while 95% of America
controlled by 5%.
Why’d you give up? I ain’t discussing land or dimension
hoes
You get not to mention pimps.
And college is hard tuition with common sense,
Tell you youngers you been failed by the government.
Know the budget for you cops in all jury,
In a few years won’t be no social security.
People insurance ain’t assuring, we sure like sure be
the mad saying caring
Aren’t providing my family a bigger house, got it
gripping by a crib and mess in its account.
(Hook)
I’m ready for the grind, build for the hustle,
All I need is time, got the mind and the muscle,
G by design, I was bunked up by the struggle
On every means, climb to a higher level.
I’m progressing on pride, tires ripping the road,
Be addicted to fame, all my shit is in this dope
Soldier carries flame and I spit from the soul
Going back to the grain we’re so out of control.
Make the world go round, they told me money make the
world go round.
What make the world go round?
Welcome to economics.
I’m progressing on pride, tires ripping the road,
Be addicted to fame, all my shit is in this dope
Soldier carries flame and I spit from the soul
Going back to the grain we’re so out of control.
(Verse)
Crack these arenas filling, it’s like venus my sister
Either way I’m winning like the a William’s kid at
wimble
This life is so expensive, but you get this rare,
Cause you’ll be dead waiting for a pension.
I get that ringling money, that mean I’m with my
siblings
The ADF attitude ever since the beginning
Cause I don’t go by the rules, I swear the nigger
sitting
We party on, we were slaves, but we were so into it
like we wanna get paid.
Now you say it’s money over everything?
Shit, your life must be a bitch and she ain’t never
came.
But it’s cool, cause a heart is a house for love
And for my gang my heart beat like akky cane
Junior, younger fresh out of june
With this aura on his smile, still sublime consumers
Of cocaine, hoping that shit don’t change
For the boys come and get it on each lane till it’s
bang.
(Hook)
I’m progressing on pride, tires ripping the road,
Be addicted to fame, all my shit is in this dope
Soldier carries flame and I spit from the soul
Going back to the grain we’re so out of control.