What happens when governments default on their debts? In this video, Professor Garrett Jones of George Mason University uses the Greek government debt crisis to explain what happens when governments default on their debts and why it's not always a bad thing.
Economics is built on the premise that humans act rationally, but everyone behaves irrationally some of the time. Is it possible that human irrationality nullifies economic theory? Join Professor Antony Davies of Duquesne University and Erika Davies of George Mason University as they take you on a crash course of behavioral economics, discussing topics like rational choice, heuristics, nudging, and public choice economics.
This is the first edition of the open text book Building a Competitive Investment Climate on First Nation Lands. This textbook is for students who are First Nation and tribal government employees or students who would like to work for or with First Nation and tribal governments. The purpose of this textbook is to help interested First Nation and tribal governments build a competitive investment climate. Work began on this text book in early 2012 with a generous grant from the Donner Canadian Foundation. Financial support was also provided by the First Nations Tax Commission and the Tulo Centre.
The Bureau of Labor & Statistics provides relevant U.S. census information relevant to many areas of a Business Concentration. Statistics are available regarding population census, labor census information, salary census, job injury and workplace violence, for example.
Business Career Resources contains many relevant links for persons interested in pursuing careers in a business related field. It will also prove useful for anyone researching strategic policies of certain industries.
Americans make up around four percent of the world population and yet they control over 25% of the world’s wealth. If that wealth were shared evenly across the globe, couldn’t we solve the problem of global poverty overnight? In this video, Professor Matt Zwolinski of the University of San Diego explores how best to end poverty for good.
In this course, we will seek to interpret capitalism using ideas from biological evolution: firms pursuing varied strategies and facing extinction when those strategies fail are analogous to organisms struggling for survival in nature. For this reason, it is less concerned with ultimate judgment of capitalism than with the ways it can be shaped to fit our more specific objectives for the natural environment, public health, alleviation of poverty, and development of human potential in every child. Each book we read will be explicitly or implicitly an argument about good and bad consequences of capitalism.
This course is an introduction to economics for non-majors and political economy, with an emphasis on the moral and ethical problems that markets solve, and fail to solve. Taught by Professor Michael Munger of Duke University, this course includes full length lectures, links to readings, and a sample final exam.
This series focuses on the work of The Centre for the Study of African Economies (CSAE) - an economic research centre within the Department of Economics at Oxford University. These short talks look at specific research topics within the CSAE and are aimed at people who are interested in learning more about African and other world Economies such as Latin America. CSAE researchers often use unique data which give them unrivaled insight into the underlying issues. The resulting policy recommendations address questions in the economic and political spheres as well as in civil society in developing countries.
The Institute for Humane Studies has partnered with the authors of the textbook Common Sense Economics: What Everyone Should Know about Wealth Creation and Prosperity to help teach students why economic understanding is essential for life in today's society. With videos and quiz question corresponding to each element, this collection can be used as a study guide for "Part 1: Twelve Key Elements of Economics".
People say the government has a debt problem, but what causes federal government debt? In this video, Professor Antony Davies of Duquesne University traces the root cause of government debt to find out if the problem is too much spending or too little government tax revenue.
This course introduces the theory of relative prices in a market system, consumer choice, marginal analysis, and the allocation of productive resources among alternative uses in a market economy. Other topics may include market power and price discrimination, public finance, the labor market and environmental policy.
Course Outcomes:
1. Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues.
2. Describe and apply marginal principle, principle of opportunity cost, principle of diminishing returns, comparative advantage, and elasticity.
3. Analyze the relationships between production costs and cost curves.
4. Explain the mechanics of supply and demand and apply the supply and demand model to evaluate markets.
5. Discuss the efficiency and equity of both competitive and noncompetitive markets and how both are impacted by government intervention.
6. Explain, compare and contrast, and apply in context each of the basic market structures - i.e. perfect competition, monopoly, oligopoly and monopolistic competition.
This course introduces the determination of levels of national income, employment and prices, and the basic causes of fluctuations in the business cycle, the banking system, monetary policy and financial intermediation. Other topics may include international trade and international finance.
Course Outcomes:
1. Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues.
2. Describe and use economic data to evaluate the three basic macroeconomic problems: recession, unemployment, and inflation.
3. Discuss and apply the concepts of economic growth and business cycles to the macro economy.
4. Demonstrate how Gross Domestic Product (GDP) and Real GDP are calculated and explain the uses and limits of both.
5. Discuss and apply the aggregate-demand and aggregate-supply model to analyze short run and long run national economic conditions and the effectiveness of macroeconomic policy.
6. Apply the concepts of comparative and absolute advantage to explain the benefits of trade.
This is presentation of some basic economic ideas for the beginning community college student.
Looking for engaging content for your economics courses? The Institute for Humane Studies has curated this collection of educational resources to help economics professors enrich their curriculum. Find videos, interactive games, reading lists, and more on everything from opportunity costs to trade policy. This collection is updated frequently with new content, so watch this space!
The Economics of Food and Agricultural Markets is written for applied intermediate microeconomics courses. The book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, and natural resource sectors. The field of agricultural economics is relevant, important and interesting. The study of market structures, also called industrial organization, provides powerful, timely, and useful tools for any individual or group making personal choices, business decisions, or public policies in food and agriculture industries.
Presumably you've already made plans for surviving a zombie apocalypse, but have you thought through the important economic factors that might make the difference between surviving and losing your brain to one of the walking dead? In this video, Professor Anthony Davies of Duquesne University discusses how a zombie apocalypse would affect the price of gasoline, the supply of money, and the economy as a whole.
European gas and electricity markets have largely been liberalized. Due to the specific physical characteristics and public interest aspects of electricity and gas, and to the fact that the networks continue to be natural monopolies, these markets require careful design. In this class, it is analyzed what the market design variables are and how the ongoing process of market design depends on policy goals, starting conditions and physical, technical and institutional constraints. In addition, a number of current policy issues will be discussed, such as security of supply, the CO2 emissions market, the integration of European energy markets and privatization. Participation in a simulation game, in which long-term market dynamics are simulated, is mandatory.
EME 801 provides a broad introduction to global markets for crude oil and refined petroleum products, natural gas, and electric power. A major goal of the course is to help students understand how market design, market institutions, and regulatory structures affect firm-level decision-making in the energy industries and ultimately, how these decisions affect the functioning of energy markets and the prospects for alternative technologies.
Energy policy sits at the crossroads of science and policy. And now, energy and climate policy are inextricably linked; the policies we choose have very real consequences for our climate. This intersection of science and policy is chaotic and bustles with activity motivated by various competing (and conflicting) interests and factors. We must understand the motivations driving them and bridge the divides between our reliance on fossil fuels and our need to transition to less carbon-intensive and renewable alternatives. While the science and math behind these problems is often fairly straightforward, the politics and behavioral changes are not. Come stand at this busy intersection with us as we navigate toward progressive climate policy alternatives at all scales of governance!
The Equal Employment Opportunity Commission's website covers topics relating to discrimination, Affirmative Action, and other relevant topics of Employment Law. This is a good site for students who need statistics for their research. The site also provides practical suggestions for human resource managers.
This reading list examines the different perspectives of philosophers such as Robert Nozick, G.A. Cohen, and Derek Parfit on income equality and encourages students to consider whether and why equality matters.
In this video, Professor Don Boudreaux of George Mason University explains how the price system is able to coordinate the behavior of billions buyers and suppliers in a great chain of global cooperation.
Trade benefits both buyers and sellers, but what happens when the transaction affects a third party? In this video, Professor Michael Munger of Duke University defines the term externality and explains different ways to solve the problem of externalities.
Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century.
This course attempts to explain the role and the importance of the financial system in the global economy. Rather than separating off the financial world from the rest of the economy, financial equilibrium is studied as an extension of economic equilibrium. The course also gives a picture of the kind of thinking and analysis done by hedge funds.
Many people are concerned with growing income inequality, but according to Professor Antony Davies of Duquesne University, there are a lot of misconceptions about inequality. In this lecture, Professor Davies explores five common myths about inequality, covering topics like profit, types of equality, and the standard of living.
According to Professor Bryan Caplan of George Mason University, many people suffer from "anti-foreign bias", believing that countries should prioritize goods made within their own borders and limit immigration to preserve jobs for citizens. In this video, Professor Caplan explains how trade and immigration actually increase wealth for everyone.
Sustainability denotes one of the main future challenges of societies and the global community. Issues of sustainability range from energy and natural resources to biodiversity loss and global climate change. Properly dealing with these issues will be crucial to future societal and economic development. This course provides the theoretical background for the discussion and analysis of sustainability issues. Students will recognize specific sustainability issues, such as sustainable energy, as part of a more complex challenge of developing sustainable societies and systems, and against the background of the general meaning and implications of the conception of sustainability.
According to Prof. Don Boudreaux of George Mason University, free trade is nothing more than a system of trade that treats foreign goods and services no differently than domestic goods and services. In this video, Professor Boudreaux defines free trade and protectionism and provides real world examples of free trade.
Friedrich Hayek was undoubtedly one of the most important classical liberal thinkers in modern times. Throughout his career, he sought to illustrate the importance of liberty to human flourishing. This reading list provides students with an introduction to Hayek's work on liberty, from the knowledge problem to his famous book The Constitution of Liberty.
Economist Russ Roberts once remarked, "How strange it is that we live in the richest society in human history and we don't teach our children how we got to be the richest society in human history." We are unbelievably wealthy, yet most of us give little thought to what it takes to create that wealth. This video course, featuring Professor Dan Russell of the University of Arizona, explores the nature of wealth and the institutions that help us create it.
The resource "Demand, Supply and the Market" is a module in the "AP Microeconomics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "Doing Business in a Market Economy" is a module in the "Economics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "Elasticity" is a module in the "AP Microeconomics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "Factor Markets" is a module in the "AP Microeconomics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "Fundamental Economic Concepts" is a module in the "AP Microeconomics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "Fundamentals:Acting Like an Economist" is a module in the "Economics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "Fundamentals:Economic Systems and The Role of Government" is a module in the "Economics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.
The resource "International Economics:Trade and Currency" is a module in the "Economics" course. The course is included in the Georgia Virtual Learning resource series available in the open educational resources collection of the NCLOR. This resource is included in the Business discipline with the subject of Economics.