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How Markets Work

5 Units   3H 45M
Parts
  • Introduction
  • The Price System
    • Lesson 1: The Invisible Hand
    • Lesson 2: Economic Choices
    • Lesson 3: Supply & Demand
  • Pre-Conditions for Wealth
    • Lesson 4: Property Rights
    • Lesson 5: Legal Institutions
    • Lesson 6: Virtue
  • The Entrepreneur
    • Lesson 7: The Entrepreneur
    • Lesson 8: The Knowledge Problem
    • Lesson 9: Spontaneous Order
  • Money
    • Lesson 10: The National Economy, Part 1
    • Lesson 11: The National Economy, Part 2
    • Lesson 12: Monetary Policy
  • Economic Growth
    • Lesson 13: Trade
    • Lesson 14: Poverty
    • Lesson 15: The Economic Future

Lesson 11 Lesson 11: The National Economy, Part 2

Presented by: Dr. Daniel Hammond
Wake Forest University

Playlist

  1. Aggregate Economic Analysis II, Part 1
  2. Aggregate Economic Analysis II, Part 4

Aggregate Economic Analysis II

The money and banking system is at the heart of the international economic order. Understanding how they work is essential to understanding how markets work. In this lesson you will learn several basic accounting concepts, as well as how to identify what inflation and recession are. Inflation robs your wealth, appreciating its lessons is in your best interest.

Lesson Eleven Quiz

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HMW Lesson 11: The National Economy, Pt. 2

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While money is not wealth—otherwise the government could make us all twice as rich by simply printing twice as much money—a well-designed and well-maintained monetary system facilitates the production and distribution of wealth.

Thomas Sowell

Learn More

h Video

Aggregate Economic Analysis II, Part 2 with Dr. Daniel Hammond

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h Video

Aggregate Economic Analysis II, Part 3 with Dr. Daniel Hammond

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h Video

The Paradox of Thrift - 60 Second Adventures in Economics (The Open University)

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h PDF

Thomas Sowell, Basic Economics, pp. 345-391

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How Markets Work

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