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ECON101

Understanding Economics

This course will examine the important role that markets play in allocating scarce resources. Special emphasis will be given to the ability of markets to convey important information that allows disparate individuals to coordinate their economic activities. This course will also contrast the market with government command-and-control policies for resource allocation. The work of both Hayek and Mises will provide the foundation for this course.

Course Lessons

Course Info

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Lesson

The Economic Problem

Lecturer
Veronique de Rugy

Veronique de Rugy explains what economics is, and how economists think.

06/07/2015
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Lesson

Prices, Information, and Coordination

Lecturer
Donald Boudreaux

Donald Boudreaux explains how the price system contains all the information necessary to allocate scarce resources efficiently.

06/06/2015
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Lesson

Incentives

Lecturer
Bryan Caplan

Bryan Caplan explains the role of incentives, information, and institutions in economics.

06/05/2015
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Lesson

The Entrepreneur

Lecturer
Jeffrey Tucker

Jeffrey Tucker explains how entrepreneurs provide the vision—and assume the risks—that move our economy forward.

06/04/2015
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Lesson

Competition and Monopoly

Lecturer
Wayne T. Brough, Ph.D.

Wayne Brough shows how, when firms compete, consumers are rewarded with higher quality and lower prices.

06/03/2015
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Lesson

Institutions

Lecturer
Steven Horwitz

Steven Horwitz shows why the nature and quality of a society’s institutions will largely determine its success.

06/02/2015
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Lesson

Opportunity Cost

Lecturer
Veronique de Rugy

Veronique de Rugy explains that the cost of something is what you have to give up to get it.

06/01/2015