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Rational Choice Theory
Consider why people are the most difficult factor to predict when running an economy. At what points do they diverge from predictable, rational choices? Pose this question to your class members using this 60-second animated video.
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The Impossible Trinity
Governments work to maintain stable exchange rates, control interest rates, and let money freely flow in and out of the country. But can this happen all at once in countries when considering the international effects? Use this video to...
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The Principle of Comparative Advantage
In the fourth episode of 60-second video clips on economics, you will review the principle of comparative advantage with your learners, explaining the benefits of international free trade as countries specialize and export their...
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The Phillips Curve
How does employment affect wages and prices? Can this really all be explained by a simple curve? Here you will find a brief video clip that uses cartoon animations to explain the correlation between employment and inflation according to...
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The Paradox of Thrift
When you have money in your pockets, is it better to save or spend? Weigh the benefits of saving money in banks versus spending money to create opportunities for employment with this brief animated video, which is part of a series of six...
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The Invisible Hand
How did economist Adam Smith shock the world in 1776? By telling the world that the best way for a government to control an economy is to not control it, and to leave people to buy and sell freely. Use this brief video as a way to...