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...economic theory, watch how an Invisible Hand drives the economy. Eventually...Find out about The Open University's Economics courses. David Mitchell is waiting to explain six key economic concepts in sixty seconds apiece. Which is pretty economical in itself, if you think about it... Transcript: An economy is a tricky thing to control, and governments are always trying to...

...Economics courses. Transcript: Much like a child getting his pocket money, one of the biggest economic questions is still whether it’s better to save or spend. Free-marketeers like Hayek and Milton Friedman say that, even in difficult times, it's best to be thrifty and save. Banks then channel the savings into investment, in new plants, skills and techniques that let us...

...economics: the secret life of t-shirts, aims to describe what goes into making and selling t-shirts. Which resources, which markets, who is involved, the income people get, the income and value they create are all discussed. You will explore these questions at different stages of the production of a t-shirt, and you'll use concepts from economics such as 'supply chains'...

...Economics courses. Transcript: Bill Phillips was a crocodile hunter and economist from New Zealand, who spotted that, when employment levels are high, wages rise faster - people have more money to spend, so prices go up and so does inflation. And likewise, when unemployment is high, the lack of money to spend means that inflation goes down. This became known as the...

...Economics courses. Transcript: Most countries trade with one another – which is usually pretty good for all involved – but it does mean it’s a bit harder for each to keep control of its own finances. There are three things that governments are particularly keen on. They like to keep the exchange rate stable so that import and export prices don’t suddenly jump...

...Economic Area. Attempts to maintain membership of the customs union and single market by Brexit’s opponents have seemingly failed. But in keeping up pressure to stay as close as possible to the EU, they risk driving Britain further away from it. Anti-Brexiteers now risk colliding with one of the harshest lessons of behavioural economics – once people are determined to...