How Do People Make Economic Decisions? | Matthew McCaffrey

This module focuses on the decision-making processes of individuals within an economic framework. Matthew McCaffrey will guide students through the intricacies of how choices are made in the face of scarcity and limited resources.

Key points include:

• The importance of opportunity cost in decision-making.
• The role of incentives.
• Factors influencing consumer behavior.

By the end of this module, students will understand the foundational principles that govern economic choices.

Course Lectures

• How Do People Make Economic Decisions? | Matthew McCaffrey

  Playing

  This module focuses on the decision-making processes of individuals within an economic framework. Matthew McCaffrey will guide students through the intricacies of how choices are made in the face of scarcity and limited resources.

  Key points include:

  • The importance of opportunity cost in decision-making.
  • The role of incentives.
  • Factors influencing consumer behavior.

  By the end of this module, students will understand the foundational principles that govern economic choices.

• Money is Work | Douglas E. French

  Play

  In this module, Douglas E. French presents the thought-provoking idea that money is not merely a medium of exchange but rather a representation of work and value. Students will learn how money facilitates trade and economic activities.

  Topics covered include:

  • The evolution of money and its various forms.
  • The role of money in the economy.
  • How money influences individual and societal choices.

  This insightful session will help students appreciate the vital function that money serves in our everyday lives.

• The Tale of Two Invisible Hands | Mark Thornton

  Play

  Mark Thornton's session delves into the concept of the invisible hand, a metaphor for how self-interested actions can lead to positive societal outcomes. This module will explore the duality of invisible hands in economic contexts.

  Students will examine:

  • The foundational theories behind the invisible hand.
  • Real-world examples illustrating its influence.
  • The balance between self-interest and public good.

  By understanding these principles, students will gain insights into the mechanics of capitalism and market dynamics.

• Capitalism is Life Itself | Jeffrey Tucker

  Play

  In this inspiring module, Jeffrey Tucker discusses the profound connection between capitalism and life itself. He emphasizes how capitalism fosters innovation, enhances individual freedom, and drives societal progress.

  Key aspects include:

  • The principles of free markets and voluntary exchange.
  • Capitalism's role in promoting creativity and entrepreneurship.
  • The impact of capitalism on personal freedoms and quality of life.

  This session offers students a powerful perspective on the importance of capitalism in shaping a thriving society.

• The Life of an International Economics Student | Lucia Manzi

  Play

  This module features Lucia Manzi, who shares her experiences as an international economics student. She provides valuable insights into the academic journey and the practical applications of economics in a global context.

  Students will learn about:

  • The challenges and rewards of studying economics abroad.
  • The importance of cultural understanding in economics.
  • Career opportunities in international economics.

  This firsthand account will inspire students to consider the global implications of their economic studies.

• The Life of an International Economics Student | Xavier Méra

  Play

  Xavier Méra presents his experiences as an international economics student, shedding light on the diverse aspects of studying economics in a globalized world. His insights provide students with a broader perspective on the subject.

  Participants can expect to learn about:

  • The significance of global trade and economics.
  • Real-world applications of economic theories.
  • Networking and cultural exchanges as part of the learning process.

  This personal narrative will motivate students to understand economics beyond their immediate environment.