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\nWhy Economics is a Social Science: Understanding the Basics\n

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\nThe video is an introductory lecture on why economics is defined as a social science. The lecturer explains that economics is the study of individuals and their decision-making behavior and how those decisions affect the economy as a...\nThe video is an introductory lecture on why economics is defined as a social science. The lecturer explains that economics is the study of individuals and their decision-making behavior and how those decisions affect the economy as a whole. The social aspect of economics is focused on identifying why individuals make certain decisions and the implications of those decisions. The scientific aspect of economics is about using tools and models to predict and explain economic behavior. The lecturer emphasizes the importance of data in driving economic models and describes the demand-supply model as one of the most important models in economics.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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9:32
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" href=\"/subscription/new\">Video Transcript\n
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Concepts

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economics, social science, economists, resources, economy, time
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Additional Tags

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a-level, lectures, micro, economic, problem, 1.intro, as, a, social, science, social aspect, economic agents, economic system, central problem, fixed amount, fixed number, price movements, models, important, decisions, general, goods, basis, established, happen, individual, people, predict, world, model, economist, field, start
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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Educator Ratings

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Why Economics is a Social Science: Understanding the Basics\" href=\"/subscription/new\">\"Why\n\n
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