Introduction to Economics | Marginal Revolution University (MRU)

Economics is much more than just numbers and graphs. In fact, we can use economics to explain much of what we encounter in our daily lives. For instance, why is customer service at your local restaurant usually better than that of the cable company? To find the answer we can take a closer look at the incentives at play. For another example, we look to eighteenth century Great Britain. What did bad incentives have to do with the death rate of prisoners shipped from England to Australia? Let’s find out together in this first video of MRU’s course on Principles of Economics: Microeconomics.

***TEACHER RESOURCES***

***CONTINUE LEARNING***

00:00 Introduction
00:30 Incentives
01:06 Using Incentives to Improve Results
02:22 Why Should You Learn Economics?

[ShivamGoyalSG]

This is Excellent, please dont be disheartened by the relative number of dislikes on this video, may not be incentivising for you, but remember you guys do a great job.

[solitaryreaper]

These two guys have very friendly faces. I am all incentivized.

[kossatz]

Dear both, thanks for sharing all your knowledge in such a didactic and fun way! I just bought your book (Modern Principles of Microeconomics) for 55 bucks and after reading the first three chapters, I can honestly tell you that I´m earning a consumer surplus of around 400 bucks (and I really mean it). Thanks a bunch for such a treasure, one of the best 55 dollars I ever invested.

[_truthful_q_]

What a great introduction to economics. Makes me want to study it already. If tutors/lectures can captive an audience from the get go, learning becomes more fun. Great job!

[kasunldon]

I DON'T NORMALLY COMMENT BUT THIS IS A SICK CHANNEL, THANKS GUYS!

[sajjansingh]

Thank you Professors for reigniting my love for economics which got lost somewhere because of my incompetent college teacher. I appreciate your fun way of approaching this subject . Thanks a lot .

[RaphaelLeiteritz]

I really want to thank you so much for producing this course. It's so important to spread basic understanding of economics outside the obvious channels, and you do it in a competent and fun way. Thanks!!

[omega]

Wow! Just wow!! I am a professional engineer and having watched a few channels in my bid to better improve my knowledge of economics, I must say this channel trumps them all. Usually don't comment but couldn't resist. Please, keep up the work and don't ever stop...thanks!!!!👏🏼

PS: Left comment after watching Alex's video on Real GDP per Capita and standard of living.

[nanucaruseishvili]

Thanks a lot I owe you so much. I failed in first exam in economics and now I've got really high scores. That's a great thing you're doing. Thanks again.

[mohitsingha]

I watched this video, unfortunately, just below, i saw a comment which was put up a year ago by someone who is totally unfit to comment. It is a shame that anyone can put up negative comments about these excellent videos. Of course, these comments must be put up by people who don't understand English, which is a primary cause of negativity or they belong to some archaic educational system and cant appreciate such fine teaching. Hats off to you two Professors.

[amybrower]

Professional and informational....thanks for letting us view these videos

[ajitnairk]

One of my fav channels. Retrained me to see the world around me differently. In terms of incentives. Cant thank u enough.

[anushkagupta]

I'm so glad I found this channel!!

[freshiboi]

Haters will never be in short supply. They downplay peoples efforts and have nothing to offer themselves.... Keep going Prof Cowen and Prof

[jagritikakati]

I just LOVE these two guys...I found Economics on my 24th year of of existence and I am loving the shift in my perspective!

[walterdennisclark]

In the introduction should be mention of a very important feature of the study of economics. It reveals non-obvious observations of humans in cooperation.
That's important because most people think that economics is merely common sense and like philosophy; no theory is really any better than any other, and all that you guys do is collect different theories.

[slickxbt]

I just stumbled upon your channel and It just blew my mind. The amount of work that went into this is absolutely brilliant. MUCH LOVE GUYS!!!! CANT BELIEVE YOU ARE NOT BIGGER YET!

[alprince]

We are so grateful for these materials. thank you guys.

[etbedtalksAOH]

Thanks a ton, Tyler and Alex for teaching me how to love this subject.

[agglyusr]

Thank you for sharing your knowledge with the world in an easy to digest way. You are making the world a better place.