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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

Part 1 The Price System

Presented by: Dr. Gregory Thornbury
The King’s College

Playlist

  1. Things Seen and Unseen: Economics and the Price System

What Is Seen and Unseen

Economics can seem like a mysterious enterprise. Part one of the How Markets Work course considers the central mysteries that economics helps us explore. How can the everyday activities of millions of people providing for themselves and their families be coordinated such that they are mutually supportive? How can this happen without anyone in authority directing the coordination? How can we have products and services available that no one knows how to produce and deliver from start to finish? How can pursuit of enlightened self-interest promote the public interest? The place to start our exploration of basic economics is with something we encounter every day: prices.

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How Markets Work

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