Ten Principles of Economics Video Clips

Ken Witty, a talented documentary filmmaker, has produced a video series to illustrate the Ten Principles of Economics introduced in Chapter 1. Although the study of economics has many facets, the field is unified by several central ideas.  The Ten Principles of Economics streaming video clips offer an overview of what economics is all about. Instructors can show these streaming video clips as an interesting and visually appealing introduction to topics discussed throughout the textbook.

To view the video clips in your browser, click on either high or low bandwidth links from the list below. To Download the video transcripts to your computer, Internet Explorer users (right-click on the link, and select "Save target as") Netscape users (right-click on the link, and select "Save link as").

Please be patient as the movie loads, it may take a couple of minutes.

low | high PRINCIPLE #1 and Introduction:  People Face Trade Offs  (download transcript)

low | high PRINCIPLE #2:  The Cost of Something Is What You Give Up to Get It  (download transcript)

low | high PRINCIPLE #3: Rational People Think at the Margin  (download transcript)

low | high PRINCIPLE #4:  People Respond to Incentives  (download transcript)

low | low PRINCIPLE #5: Trade Can Make Everyone Better Off (download transcript)

low | high PRINCIPLE #6: Markets Are Usually a Good Way to Organize Economic Activity (download transcript)

low | high PRINCIPLE #7: Government Can Sometimes Improve Market Outcomes (download transcript)

low | high PRINCIPLE #8: A Country's Standard of Living Depends on its Ability to Produce Goods and Services (download transcript)

low | high PRINCIPLE #9: Prices Rise When the Government Prints Too Much Money (download transcript)

low | high PRINCIPLE #10 and Ending:  Society Face a Short-Run Tradeoff Between Inflation and Unemployment (download transcript)

Note: Some of these files are large and may take some time to download. Thank you for your patience!

System Requirements: The Quicktime plugin needs to be present on your computer in order for these video clips to play. If you need the free QuickTime player, you may download it for free here: http://www.apple.com/quicktime/download/win.html. (An Internet connection required for downloading).

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