ECONOMICS

This course will give you an overview of basic economic assumptions and models that will illustrate how households, governments, and firms behave. It will teach you how economists think and find solutions to many global problems. Besides learning basic economics concepts, you will take on the role of an economist, discussing global economic problems and possible solutions.

Welcome to Economics! Before our first lesson, I want you to watch the video Introduction to Economics #1 (Crash Course) and read Introduction to Economics (Reading task). Please do not forget to make your mind map and fill it with associations you have for Economics!

Welcome to Economics Day 2! Today we are going to talk about scarcity and choice. Please check this short video about  Scarcity and Opportunity Cost and the following presentation Scarcity and Choice ! Also, to learn more about graphs check this video: Graphs! 

This link will help you do your homework that will be assigned during today’s lesson #2: Economic systems.

Welcome to Economics Day 3! Today we are going to talk about economic systems. Please check the following video: Course crash #3 (Economic systems). Please do not forget to do your research and prepare the short presentations I have assigned you.

Welcome to Economics Day 4! Today we are going to talk about forces that determine prices in the market. Please check the following videos on Supply and Demand, Everything Has its Price and Consumer Choice. Please do not forget to solve two problems here. See you 🙂

Welcome to Economics Day 5! Today we are going to talk about macroeconomic indicators and the business cycle. Please check the following videos on Macroeconomics and The Business Cycle. To learn more about global crises, watch these videos: 2008 Great Recession and The Great Depression!

Welcome to Economics Day 6! Today we are going to talk about Money and Banking. Please watch the following videos, which will help you understand more about this topic: Money and Finance and What is Currency and Exchange Rate?

If you are interested in learning more about this topic, then also take a look at these interesting videos: Scrooge McDuck and Money (1967) and Imports, Exports, and Exchange Rates. (Optional)

Welcome to Economics Day 7! Today’s lesson is about Public Economics. We will learn and discuss public goods, market failures, tragedy of commons, and environmental issues. 

Please watch the following short videos to understand different concepts and possible solutions that economics studies: Market Failures, Taxes, and Subsidies, Environmental Economics, Externalities, Economics of Climate Change, and The Tragedy of the Commons. 

Welcome to Economics Day 8! Today we are going to learn and talk about economics through stories and art. We will discuss some novels, movies, art, and music. 

Before we start, please watch the following videos:  The Economic Analysis of the Great Gatsby, The formula for selling a million-dollar work of art, Economics and art, and What is Pop Art?

Please listen to this song and think about a hidden economic concept or meaning in it : Jessie J – Price Tag ft. B.o.B

I recommend you also watch The Wizard of Oz movie if you have free time. You can find the trailer here. (Optional)

Welcome to Economics Day 9! Today we are going to talk about some international economic institutions and economics development. Also, we are going to work on a project together combining all the concepts we have learned. Please check MSYP Economics Course Glossary and go through all the concepts we have covered. Reviewing the concepts will help you in today’s activity. 

Also, check this video about Productivity and Growth and if you are interested in learning about the international economic institutions, then check this Youtube channel.

Welcome to Economics Day 10! It is a final day reserved for many things you would like to do: Kahoot game, conversations, questions, reflection on previous days,…. anything that is on your mind. I appreciate the time we have spent together during these 10 days of learning economics and talking about different topics. I guess you had fun as well. I hope you will use this acquired knowledge in your future. See you 🙂