Why do we study economics? This video explains why by starting with the definition of economics. Key concepts in economics such as scarcity, opportunity cost, preferences and decisions at the margin are briefly discussed.

This video is the first video of a economics 144 (macroeconomics) course of videos. The first section of course videos can be found here:

extraclasses.co.za/economics-144-video-classes

Click here to see the presentation accompanying the video.