Economics is a topic that is supposed to be taught in my class yet I often struggle to truly provide in depth coverage of the topic. My students walk away with the basic principles but in 7th grade I work to enable them to understand the basics - the series of educational videos presented here from the "The Open University" explaining 6 key economic terms in 60 seconds each is an interesting set of resources. I will be sharing the 6 videos on my blog one each day. Each video is a good starting point to discussion - these videos are not unarguable facts but instead a start to a difficult conversation.
Video Two: The Paradox of Thrift - 60 Second Adventures in Economics "The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job prospects are precarious, it could be collectively disastrous if everyone is thrifty together."
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