This course is an introduction to economics for non-majors and political economy, with an emphasis on the moral and ethical problems that markets solve, and fail to solve. Taught by Professor Michael Munger of Duke University, this course includes full length lectures, links to readings, and a sample final exam.
This course is an introduction to economics for non-majors and political economy, with an emphasis on the moral and ethical problems that markets solve, and fail to solve. Taught by Professor Michael Munger of Duke University, this course includes full length lectures, links to readings, and a sample final exam.
Trade benefits both buyers and sellers, but what happens when the transaction affects a third party? In this video, Professor Michael Munger of Duke University defines the term externality and explains different ways to solve the problem of externalities.
According to Professor Michael Munger of Duke University, prices are akin to magic. In this video, Professor Munger explains how prices convert countless pieces of dispersed, complex information into a single signal that conveys to sellers what they should do to best benefit society.
Why do we exchange things? In this video, Professor Michael Munger of Duke University explains that exchange helps correct mistakes in the allocation of resources and makes everyone involved happier.