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The Economic Way of Thinking

The Economic Way of Thinking

This course is part of Principles of Macroeconomics Specialization

Instructor: Pearson

Included with Learn more

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1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

4 hours to complete

Flexible schedule

Learn at your own pace

1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

4 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Apply core economic principles to explain how scarcity, choice, and opportunity cost influence decision-making.
Explain how specialization and trade drive economic growth by expanding production possibilities.

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Build your subject-matter expertise

This course is part of the Principles of Macroeconomics Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate

There is 1 module in this course

This course equips you with an economic way of thinking to analyze how societies produce and allocate goods and services. You will learn to identify the fundamental questions of economics and explain how concepts like scarcity, opportunity cost, and trade-offs influence production in the global economy. Ultimately, you will be able to apply these core principles to understand the distinctions between different types of goods and the factors that drive economic efficiency and growth, enabling you to make more informed decisions in a world of limited resources.

This course dives into the economic ways of thinking. We'll start by examining the core question of "how we produce," shedding light on the factors of production and the role they play in generating output. You'll learn about the distinctions between consumption and capital goods, and how these goods are integral to an economy's performance and growth. Finally, we'll delve into the concepts of efficient and inefficient modes of production.

What's included

2 assignments3 app items4 plugins

2 assignmentsTotal 120 minutes

Graded Quiz60 minutes
Practice Quiz60 minutes

3 app itemsTotal 120 minutes

Reading: The U.S. and Global Economies pp. 1-2140 minutes
Reading: The U.S. and Global Economies pp. 35-5740 minutes
Reading: The Economic Problem pp. 61-8140 minutes

4 pluginsTotal 20 minutes

Interactive: Economic Ways of Thinking5 minutes
Interactive: Factors of Production5 minutes
Interactive: Consumption vs. Capital Goods5 minutes
Interactive: Efficient and Inefficient Production5 minutes

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Add this credential to your LinkedIn profile, resume, or CV. Share it on social media and in your performance review.

Instructor

Pearson

152 Courses179 learners

Offered by

Pearson

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Frequently asked questions

Yes, you can preview the first video and view the syllabus before you enroll. You must purchase the course to access content not included in the preview.

If you decide to enroll in the course before the session start date, you will have access to all of the lecture videos and readings for the course. You’ll be able to submit assignments once the session starts.

Once you enroll and your session begins, you will have access to all videos and other resources, including reading items and the course discussion forum. You’ll be able to view and submit practice assessments, and complete required graded assignments to earn a grade and a Course Certificate.