Economics I: Markets and business behaviour

Are you trying to grasp the fundamentals of Economics for upcoming exams? Do you want to understand better and analyse the economy you are a part of?

This course is for you, whether you are:

1. A student who has recently started learning about economics (especially those sitting AS-Level or A-Level courses in the UK; those looking at Economics 101 classes in the US; or other similar beginner-level formal economics education); or
2. A teacher who is looking for short video materials to help introduce or wrap up topics in classroom lessons; or
3. A complete beginner who has had no formal schooling in economics and want an easy introduction to how markets work so you can understand the key drivers affecting markets you are interested in.

If you want to understand why things cost as much as they do, analyse what might be a better price for society, and come to your own conclusions as to how the government could intervene, then this course will take you through those steps.

***

The course

The course is based on and aligns with Specification A of the Edexcel A-Level Economics Syllabus in the UK. This series of video lectures addresses Theme 1: Introduction to markets and market failure. You can also get a FREE set of course notes that accompany this course as well as get a FREE copy of a glossary for this course.

The Theme 1 syllabus focuses on the microeconomic nature of economics, which means it looks at individual markets. In order to understand how markets work, you will learn about how demand and supply interact for the purposes of resource allocation. Once the understanding of markets is clear, we will look at how markets may fail and investigate the causes before assessing possible government interventions.

Macroeconomics, which looks at the economy as a whole rather than individual markets, is outside the scope of this particular course.