This week we defined “Economics,” “an economy,” and “Capitalism.”
We introduced the concept of “surplus” and discussed different ways to attain it.
At the end, I highlighted how Slavery and Imperialism contributed to the ability of the U.S. and Western European colonial powers to accumulate surplus — ultimately observed as an increase in GDP.
When reading CORE, you do not need to read Einstein’s or any other “box” material unless specified.
https://core-econ.org/the-economy/
Available in English, French, Italian, and Spanish
Week 3 – 13.3 & 13.4
Week 4 – 10.1, 10.7, & 13.8
Week 10 – 14.1, 14.2, & 14.5
Week 11 – 14.6, 14.7, & 14.8
Frazee, Gretchen. (2019). “What is GDP and is it the Best Way to Measure the Economy?” PBS Newshour. https://www.pbs.org/newshour/economy/making-sense/what-is-gdp-and-is-it-the-best-way-to-measure-the-economy
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