60-Second Adventures in Economics - for iPod/iPhone
By The Open University
To listen to an audio podcast, mouse over the title and click Play. Open iTunes to download and subscribe to podcasts.
Description
Ever shaken an invisible hand? Been flattened by a falling market? Or wondered what took the bend out of Phillips' curve? David Mitchell helps reveal some of the great dilemmas faced by governments trying to run an economy - whether to save or spend, control inflation, regulate trade, fix exchange rates, or just leave everyone to get on with it and not intervene. You'll learn why Adam Smith put such a high price on free markets, how Keynes found a bold new way to reduce unemployment, and what economists went on to discover about the impact of policy on people's and businesses' behaviour - which may not always be entirely rational...
| Name | Description | Released | Price | ||
|---|---|---|---|---|---|
| 1 | VideoThe Invisible Hand | Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a core concept for so-called free-marketeers. | 29 8 2012 | Free | View in iTunes |
|
2 |
Transcript -- The Invisible Hand | Transcript -- Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a core concept for so-called free-marketeers. | 29 8 2012 | Free | View in iTunes |
| 3 | VideoThe Paradox of Thrift | The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job prospects are precarious, it could be collectively disastrous if everyone is thrifty together. | 29 8 2012 | Free | View in iTunes |
|
4 |
Transcript -- The Paradox of Thrift | Transcript -- The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job prospects are precarious, it could be collectively disastrous if everyone is thrifty together. | 29 8 2012 | Free | View in iTunes |
| 5 | VideoThe Phillips Curve | Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the rate of wage (and therefore price) inflation - but since his analysis became popular the relationship has changed. | 29 8 2012 | Free | View in iTunes |
|
6 |
Transcript -- The Phillips Curve | Transcript -- Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the rate of wage (and therefore price) inflation - but since his analysis became popular the relationship has changed. | 29 8 2012 | Free | View in iTunes |
| 7 | VideoThe Principle of Comparative Advantage | David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they’re relatively best at. | 29 8 2012 | Free | View in iTunes |
|
8 |
Transcript -- The Principle of Comparative Advantage | Transcript -- David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they’re relatively best at. | 29 8 2012 | Free | View in iTunes |
| 9 | VideoThe Impossible Trinity | The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, free capital movement and an independent monetary policy at one and the same time. | 29 8 2012 | Free | View in iTunes |
|
10 |
Transcript -- The Impossible Trinity | Transcript -- The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, free capital movement and an independent monetary policy at one and the same time. | 29 8 2012 | Free | View in iTunes |
| 11 | VideoRational Choice Theory | Without a belief in rational behaviour, it’s hard to design an economic policy with predictable results. In practice, people's errors or misinformed choices can frustrate policy design. | 29 8 2012 | Free | View in iTunes |
|
12 |
Transcript -- Rational Choice Theory | Transcript -- Without a belief in rational behaviour, it’s hard to design an economic policy with predictable results. In practice, people's errors or misinformed choices can frustrate policy design. | 29 8 2012 | Free | View in iTunes |
| 12 Items |
Customer Reviews
Interesting and Quirky
A very light introduction to some common Economic theories - David Mitchell does a great job narrating the cutesy animations. Anyone with even a mild interest in Economics should take a quick look at these videos.
Fantastic concise nuggets of economic theory voiced by the brilliant David Mitchell
I really enjoyed these short, thoughtful animations. Not having much of a clue about economics this format introduced me to some of the key ideas and big names and the wry voice of David Mitchell is always entertaining.
