Foundational Economics: Understanding Modern Capitalism

Economics is often seen as a complex field, but understanding its core principles is essential for interpreting the world around us and making informed decisions. This course demystifies the discipline of economics, providing a solid foundation in both theory and practice. By the end, you will be able to critically analyze current events, assess the role of key institutions like central banks, and understand how economic models influence policy and social outcomes. What you'll learn: * Understand the fundamental concepts of scarcity, opportunity cost, and rational choice that underpin all economic thought. * Master core microeconomic principles, including supply, demand, market structures, and pricing mechanisms. * Analyze macroeconomic indicators like GDP, inflation, and unemployment, and their impact on national economies. * Apply the frameworks of fiscal and monetary policy to evaluate the roles of government and central banks in modern capitalism. * Learn basic concepts from behavioral economics regarding cognitive biases and non-traditional decision-making. * Practice interpreting economic data and applying foundational models to real-world institutional challenges. We start with key terminology and definitions, move through foundational micro and macroeconomic theory, and conclude by examining the role of institutions and the application of economic thought in policy development. This course is designed for absolute beginners with no prior knowledge of economic theory or advanced mathematics. Start building your economic literacy today.