How can we make difficult concepts easier to understand? Rather than ploughing through pages of dense text, a video is a great way to quickly get across key terms and ideas. This is exactly the task that first year undergraduate students in the Department of Economics took on, getting involved in this year’s ‘Economics Explained’ competition.
For the ‘Economics Explained’ competition, students were put in small groups, and had to create a 5 minute video explaining an economic concept in an innovative and creative way. Submissions overcame this year’s many difficulties to create some truly enjoyable and insightful clips.
Here are the top three entries – you may learn something new!
How does Ricardo explain the income distribution between workers, capitalists, and landlords?
What is the difference between positive and normative theories?
What is GDP? Is it a good measure of economic welfare?