Egg timer economics
4.5 (85 ratings)
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Egg timer economics

Gain an insight into the key areas of the A level Economics course
4.5 (85 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
2,609 students enrolled
Last updated 10/2015
English
Price: Free
Includes:
  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
understand the basics of micro and macro Economics
participate in current affairs discussions about Economics with more confidence
enthuse about Economics not being so impenetrable as was first thought
View Curriculum
Requirements
  • approach with an open mind and a willingness to enquire
  • this is a basic course - just bring a pen and paper
Description

What is the course about?

‘Egg timer economics’ is a series of very short lectures that illustrate key areas of the A level Economics course. (Each lecture is about 3.5 minutes, hence the title 'Egg-timer Economics!) The course introduces key areas of micro and macroeconomics in a very straightforward way. There are also two sections on current affairs to encourage those attending the course to use news items to learn about Economics.

The course is divided into 13 lectures with the final lecture being a short revision.

What terminology would you expect the audience to use to find your course?

The terminology is common business language – as found in newspapers. Therefore terms such as ‘fiscal policy’ and ‘monetary policy’ are used. Students are encouraged to use the Discussion Forum to raise points and questions. These questions will very quickly be responded to.

What kind of materials are included?

13 short lectures and some documents that a) test whether the student had understood/remembered the key elements of the lecture and b) questions encouraging to do their own research. In that way the course continues beyond the video.

How long will the course take to complete?

Assuming the student has an hour a day, the course could easily be covered in a week. However, one of the purposes of the course is to enthuse the student and the questions asked may encourage the student to spend hours reading newspaper articles

How is the course structured?

The lectures follow the A level Economic syllabus. So, video, then an extension document. Then the next video.

Why take this course?

The course gives a foretaste for a far longer main A level economics course. It also serves to stimulate interest – and thought.

Who is the target audience?
  • anyone who has never studied Economics before
  • a student just beginning an AS Economics course
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Curriculum For This Course
Expand All 13 Lectures Collapse All 13 Lectures 44:37
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Egg Timer Economics
13 Lectures 44:37

As part of this brief 3 minute lecture you will be introduced to:

- Economics definition
- Factors of production
- Rewards to factors of production
- Production possibility curve – what does it show?
- Opportunity cost

Lecture 1: Introduction
03:25

As part of this brief 3 minute lecture you will be introduced to:

- Types of demand: effective, latent, potential
- Diagram showing demand: price/quantity
- Shifts in demand
- Extensions/contraction/movement along
- Equilibrium
- Macro v Micro

Lecture 2: Demand
03:14

As part of this brief 3 minute lecture you will be introduced to:

- What the supply curve shows
- Economies of scale
- Equilibrium
- Shift of demand
- Shift of supply

Lecture 3: Supply
03:24

As part of this brief 3 minute lecture you will be introduced to:

- Definition of elasticity
- Elastic/inelastic
- Price elasticity of demand + formula
- Income elasticity of demand + formula
- Price elasticity of supply + formula
- Cross elasticity of demand + formula

Lecture 4: Elasticity
02:59

As part of this brief 3 minute lecture you will be introduced to:

- Brief revision
- PICPIE
- Public goods
- Information failure
- Competition
- Poverty
- Immobility
- Externalities

Lecture 5: Market Failure
03:09

As part of this brief 3 minute lecture you will be introduced to:

- Using The Times newspaper
- Migrants – supply of labour (factor of production)
- Budget – fiscal policy
- 50 best pubs – competition, elasticity
- Income tax cuts – disposable income
- Strikes – costs rise; factor of production
- Nationalisation – types of economic systems

Lecture 6: Current Affairs
03:38

As part of this brief 3 minute lecture you will be introduced to:

- Unemployment
- Inflation
- Economic growth
- Exchange rates
- Monetary policy
- Fiscal policy
- Supply-side policy
- Aggregate demand
- Aggregate supply
- Macro-economic equilibrium
- Price level; real GDP
- GDP: gross domestic product
- PICPIE

Lecture 7: Introduction to Macro-economics
03:09

As part of this brief 3 minute lecture you will be introduced to:

- Aggregate demand (AD)
- Shifts in AD
- Consumption
- Investment
- Government spending
- Exports
- Imports
- AD slopes downwards

Lecture 8 - Aggregate Demand
03:31

As part of this brief 3 minute lecture you will be introduced to:

- Aggregate demand
- Aggregate supply
- Factors of production
- Shifts of aggregate supply
- Cost push inflation

Lecture 9: Aggregate Supply
03:20

As part of this brief 3 minute lecture you will be introduced to:

- Inflation
- Types of inflation
- Unemployment
- Types of unemployment
- Economic growth
- Balance of Payments
- Redistribution of income
- Poverty
- Difficulties

Lecture 10: Aims and Objectives of Government economic policy
03:20

As part of this brief 3 minute lecture you will be introduced to:

- Monetary policy – control of supply of money
- Fiscal policy – tax and government spending
- Supply-side policy - mobility of labour – trade union power
- Exchange rate
- Quantitative easing

Lecture 11: Government Economic policies
03:30

As part of this brief 3 minute lecture you will be introduced to:

- Using The Times newspaper
- Footballers
- Aggregate supply
- Cost push inflation
- House prices
- Labour supply
- Mergers
- Banks

Lecture 12: Current Affairs
03:18

As part of this brief 3 minute lecture you will be asked questions about:

- Production possibility curve
- Demand curve
- Shifts in demand
- Supply curve
- Shifts in supply
- Micro-economic equilibrium
- Elasticity
- PICPIE
- Current affairs
- Macro and micro economics
- Aggregate demand
- Aggregate supply
- Unemployment
- Government policies

Lecture 13: Revision session
04:40
About the Instructor
Chris Bankes Sivewright
4.5 Average rating
84 Reviews
2,609 Students
1 Course
Experienced teacher, prolific author and course provider.

Chris has been teaching Business Studies and Economics since 1978.

Since then he has taught hundreds of students on an individual tutorial basis as well as visited over 100 schools to give revision seminars. He has also taught in a comprehensive, a grammar school, a private university, as well as at graduate and post-graduate level in Oxford, UK.

Chris has authored over 100 books which are sold through Amazon as well as three independent publishers. In the 1990s Chris produced 30 Business Studies and Economics cassette tapes. Several were recordings of his lectures at the University of Oxford.

Chris has – and is still - run several businesses including Oxford School of Learning, a tutorial college, Oxford Conferences and OSL Training.

In 2012 Chris started Almost Random Theatre, in Oxford. Since then he has helped deliver workshops in Scotland, Wales, Czech Republic and Poland as well as 15 schools in England. Chris has written/directed over 50 short and 3 one-Act plays that have subsequently been performed in London and Oxford. Scripts for three of his plays have been sold, via an Independent publisher, to schools in the UK.

Chris has several teaching diplomas as well as a Business and Economics degree and professional business qualifications. Chris has examined for four major examining boards, at ‘O’ and ‘A’ level.