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ECON-101 · 8 lessons
Economics through decisions
An original introductory course built around choice, voluntary exchange, prices and evidence. A liberty-oriented perspective is examined alongside explicit model assumptions, empirical uncertainty and competing value judgements. All numerical scenarios are illustrative.
Comfort with addition, subtraction, multiplication and division. Percentage calculations and simple equations are explained as they appear. No prior economics is assumed.
Course outcomes
- Compare feasible choices using opportunity cost and marginal reasoning.
- Explain comparative advantage and calculate possible gains from exchange.
- Use simple demand and supply models while distinguishing movements, shifts and causal claims.
- Calculate elasticities and interpret revenue and tax-incidence examples with appropriate limits.
Your lesson sequence
Lesson 1 · 60 minutes
Scarcity, choice and opportunity cost
Build a clear method for comparing feasible alternatives, separating sunk costs from future consequences, and thinking at the margin. All scenarios are illustrative.
PDF slidesLesson 2 · 65 minutes
Specialisation and voluntary exchange
Calculate comparative advantage, construct feasible trades and distinguish possible mutual gains from stronger claims about real-world outcomes. All cases are illustrative.
PDF slidesLesson 3 · 65 minutes
Demand, supply and changing prices
Solve simple market schedules, distinguish movements from shifts, and explain what equilibrium can and cannot establish. All markets are illustrative.
PDF slidesLesson 4 · 70 minutes
Elasticity, revenue and who bears a tax
Measure proportional responses, connect demand elasticity to revenue, solve a tax-wedge example and separate causal responses from observed correlations. All examples are illustrative.
PDF slidesLesson 5 · 65 minutes
Production, costs and feasible profit
Connect production increments to costs, contribution, operating choices and capacity without confusing cash receipts with economic gains. All scenarios are illustrative.
PDF slidesLesson 6 · 65 minutes
Rights, contracts and institutional choices
Examine how rules support cooperation, why externalities and public goods create challenges, and how to compare realistic institutions while distinguishing efficiency from rights.
PDF slidesLesson 7 · 70 minutes
Money, time and uncertain outcomes
Distinguish nominal and real values, compound and discount dated amounts, and understand basic risk and bank balance sheets without treating forecasts as guarantees.
PDF slidesLesson 8 · 150 minutes
Capstone: Leila’s map-shop decisions
Advise the fictional map maker using weighted contributions, opportunity costs, price-response boundaries, switching horizons and capacity. Worked teaching examples use different businesses and numbers.
PDF slides