Economic Principles: Cooperation and Prosperity
A condensed, 8-lesson course to get you started with the essentials
Economic Principles: Cooperation and Prosperity
This course has two main goals:
1. Equipping learners with the basic economic principles required for understanding a variety of economic issues; and
2. Showing how individuals cooperating in a market economy gives way to astonishing prosperity.
You have probably heard terms like scarcity, opportunity cost, supply and demand, and profit and loss, but you may not know how they are all related or what they have to do with economics. Understanding these terms and other basic economic principles will change the way you view the world. This course is also designed as a first course in economics – if you intend to take more courses, this is a great place to start.
You’ll learn about the solution to the Diamond-Water Paradox and learn to spot and avoid the Broken Window Fallacy. You’ll see the beauty of the division of labor and see the consequences of government interventions in the economy with reference to price controls, regulations and more, and you’ll understand the importance of losses in the market economy. You’ll also grasp consumer sovereignty and you’ll come to admire the spontaneous order of the market economy, so in the end, you’ll see how freer economies have higher standards of living, longer lives, and less social unrest because people's needs are being met.
FEE Courses
Course Overview
Introduction
Scarcity
Watch Video
Opportunity Costs
Watch Video
The Broken Window Fallacy
Watch Video
Match the Terms!
Lesson Recap
Introduction
Diamond-Water Paradox
Watch Video
Diminishing Marginal Utility
Watch Video
It's the Margin that Counts
Read Article
Match the Terms!
Lesson Recap
Introduction
Trade is Win-Win
Watch Video
International Trade is Win-Win
Watch Video
Lesson Quiz
Lesson Recap
Introduction
Comparative Advantage
Read Article
Specialization
Watch Video
Cooperation and Competition
Read Article
Match the Terms!
Lesson Recap
Introduction
Supply and Demand
Watch Video
How the Price System Works
Read Chapter
Lesson Quiz
Lesson Recap
Introduction
The Pursuit of Profit
Read Article
The Importance of Loss
Watch Video
Match the Terms!
Lesson Recap
Introduction
Price Controls
Watch Video
Watch Video
Entrepreneurship Stifled
Watch Video
Moral Hazard
Watch Video
Match the Terms!
Lesson Recap
Introduction
I, Pencil
Watch Video
Spontaneous Order
Watch Video
Hockey Stick of Economic Growth
Watch Video
Watch Video
Economic Freedom and Prosperity
Watch Video
Watch Video
Lesson Quiz
Lesson Recap
Course Summary