This module serves as an introduction to the course and covers the production possibilities frontier. Please go over the “10 principles of economics” slide. I did not make a lecture for these as the slides mainly cover some basic definitions. Pay special attention to “oppurtunity cost”.
First If you haven't already, download and read the syllabus.
Lectures (~45 min)
- Introduction 1 (8 min)
- Introduction 2 (6 min)
- Production Possibilities 1 (9 min)
- Production Possibilities 2 (6 min)
- Production Possibilities 3 (15 min)
- Slides: Introduction
- Slides: 10 Priciples of Economics
- Slides: Production Possibilities
- Oppurtunity Cost (This is Important!!!)
- Oppurtunity Cost (as explained by G-Eazy)
- Marginal analysis on hotdogs