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Alright folks, welcome to a semester in economics.
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And what we're going to do in this very first lesson is we are going to define economics
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and try to get an understanding of what it is exactly, this subject that we're learning.
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So you should have a notebook in front of you
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or some paper so that you can take notes and I recommend
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that you write down everything
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that I write down up here on the board in your notes
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so that you can study and add a few extra notes of things
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that I say or maybe some things that will trigger memories while you're learning this stuff, okay?
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So what is economics?
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Well I have my own definition, there's probably several definitions out there, I'm sure there are plenty of textbooks that have definitions of economics.
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Well there's one in particular that I like to work from and I'm going to give you that definition right now.
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And after I give you that definition, so we're going to say economics.
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What is economics?
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All right.
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After I give you my definition, I'm going to break down the definition into four main pieces
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so that you can have a better understanding of how we're going to focus on learning this semester.
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Okay.
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So here's my definition of economics.
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To me, economics is the scientific study of how individuals,
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that's like people, right?
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Individual people.
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Organizations.
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Organizations.
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So that's like businesses or maybe government organizations or not -for -profit organizations.
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You know, groups of people who come together to either make a profit or achieve some kind of goal.
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Or, let's say, or societies.
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Now, a society is like an entire country or an entire city or an entire state.
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Okay, change that to a societies
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or societies deal with the problem of scarcity.
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Scarcity.
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Okay, that's S -C -A -R -C -I -T -Y.
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Scarcity.
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That word right there, scarcity, that is the main word in economics.
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That is the most important word in economics.
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If I were to give you a much simpler definition of economics, I would just simply say it is the study of scarcity.
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And I'm going to talk about scarcity in just a few minutes.
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So there are four main elements of this definition.
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The first thing I want to tell you is that economics itself is scientific.
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that it focuses on individuals, organizations, and societies.
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So that's its own one category.
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Economics has to do with how these groups or individuals, how they deal with.
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Now, the idea of dealing with is the idea of making a decision.
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When you want to deal with something, when you get a flat tire, you have to deal with that flat tire.
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And what that means is to make decisions about how to handle that flat tire.
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So dealing with is the idea of decision making.
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Having to make a decision.
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A decision about what?
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Well, a decision about the fact that you are facing the problem of scarcity.
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You as an individual are facing the problem of scarcity.
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Or an organization is facing the problem of scarcity or an entire society, a country, or a state,
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or a city, is facing the problem of scarcity.
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And like I said, I'm going to define scarcity in just a little bit.
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Okay, so here are the four things we're going to focus on.
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Is economics as scientific, economics as focusing on individuals, organizations, and societies, economics as dealing with decision making,
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and economics as handling the problem of scarcity.
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So in order to do that, what I want you to do right now is I want you to, on your notes, in your paper, I'm going to break up the board into four quadrants,
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like this, four quadrants.
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And I think you should also break up your notes into four quadrants.
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And we're going to put each one of these subjects in each one of these quadrants.
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So economics is scientific.
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So we're going to talk about what that means.
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Economics is concerned with individuals and organizations.
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or firms, and societies, whole, large groups of individuals.
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That economics focuses on dealing with, deal with, what does it mean to deal with something?
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Okay?
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And then lastly, we have the problem of scarcity.
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The problem of scarcity.
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Okay?
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So we're going to take these one at a time in the order that they are in the definition.
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So economics is scientific.
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Alright, so economics is a science.
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There are scientific journals animals devoted to economics.
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There are people, researchers, people who get paid lots of money, well they probably don't get paid as much as they want to get paid,
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but nonetheless, there are people who get paid money just to do research on economics, research on the problem of scarcity,
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research on individuals, organizations, and societies and how they deal with the problem of scarcity.
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And because economics is scientific, there are certain things that go along with all science.
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And two of those things that we're going to focus on, we're not going to do all of science, but the two main things I want you to understand is that in science,
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when we approach a subject in science,
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we have to make assumptions and we have to draw conclusions.
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We make assumptions and we draw conclusions.
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Now I want to clarify something here, and that is this class is a principles of economics class.
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This is not some masters or PhD level class where we're going to dig very deep into the research of economics.
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What you're supposed to be learning in this class are the basic, foundational, fundamental principles of economics.
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And that's what I'm going to focus on.
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So here's what I'm going to do.
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When we talk about these assumptions and conclusions, especially the assumptions, I want you to understand that the assumptions
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that we're going to use in this economics class might not be the kinds of assumptions
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that would be used in a much higher level economics class.
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So if you decide that you're going to someday get a masters or a PhD in economics, you might find out something,
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you might learn something in that economics class and think back to this class and say, wow, Professor Ryan was wrong.
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What you have to understand is that the assumptions
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that we're going to make are important when you're at the beginning stages of learning economics.
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So I'm warning you that some of the things that we're going to learn throughout this semester, some of the things that I'm going to teach you, are really only foundational principles.
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But when you get to higher levels of economics,
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oftentimes we relax or eliminate those foundational concepts and augment them into something much more detailed or much larger or much grander.
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So I'm warning you in advance.
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This is a principles class.
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You are learning the basics of economics, okay?
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Alright, so, one of the basic assumptions, well, I'm going to give you two basic assumptions in economics.
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The first one is called the Ceteris, that's C -E -T -E -R -I -S, Paribus.
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That's P -A -R -I -B -U -S.
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That's the Ceteris Paribus Assumption.
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I'm going to put quote marks around it.
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What does ceteris paribus mean?
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Ceteris paribus basically means to examine one variable by not changing any of the other variables.
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You are holding everything else constant so that you can isolate the effects of a single variable on some other phenomenon.
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Okay, so Ceteris Paribus says that we're isolating all other variables so that we can examine one variable that's changing,
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because here's what's going to happen in this class is I'm going to say something like, hey, when things are cheaper,
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people buy more of it.
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And then you're going to say, well, not always.
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Sometimes when things are cheaper, people don't want them at all.
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And I'm going to say, you know what?
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You're right.
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Sometimes things are so cheap that people don't want them at all.
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But I'm using the ceteris paribus assumption.
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We're going to assume that it's the kind of product that everybody wants.
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And so now, if it's a product that everybody wants and the price goes down, people are going to buy more of it because they do want it.
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We're going to assume that it is something that people want.
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So for example, if the price of garbage goes down, people may say, no, I don't want any more garbage.
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I'm trying to get rid of my garbage.
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Well, yes, I agree with you.
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But if we're talking about something normal, like a cheeseburger, or french fries, or a car, then we can assume,
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ceteris paribus, that when the price goes down, that people will buy more of it, okay?
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So that's our first assumption in economics, is the ceteris paribus assumption.
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The second assumption, what is the second assumption?
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Oh, the second assumption is rationality, rationality, okay?
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Now, this is a really, really, we got to be very flexible with this rationality assumption,
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assumption, but we're still going to use this rationality assumption in this principles class.
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Here's what the rationality assumption says.
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The rationality assumption says that people in general are rational decision makers.
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Meaning, if you give them a choice of whether they can have $20 or $30,
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that they will choose $30 every single time.
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And you might say to yourself, oh, there must be some kind of catch.
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No, I'm telling you, there's no catch.
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Your choices are $20 or $30.
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Which one do you want?
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Everything else is the same.
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And then, obviously, the rational person is going to say, well, I'd rather have more money than less money, so I'm going to take $30.
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Yes, exactly.
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We're going to assume that you are a rational person, that I am a rational person, that I want more good stuff,
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and I want less bad stuff in my life.
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That is rationality, okay?
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So that's the second assumption.
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And because economics is scientific, we have to start somewhere, and where we're going to start is that we're only going to look at one variable at a time,
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and then also we're going to assume that people are making rational decisions,
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that they're not insane, that they are not out to get worse things for themselves, and less better things.
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No, that doesn't make any sense.
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We're going to assume that the people, that the individuals, the organizations, and societies that we're dealing with are rational.
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Okay?
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All right, now let's move on to conclusions.
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Oftentimes what we do in economics is after we learn something new or after we understand something,
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we then draw a conclusion, right?
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And here's how it goes.
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For example, let's say that people are spending more of their money on one kind of cereal.
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People are spending more money on Lucky Charms than they are spending on Cheerios.
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And so we might draw a conclusion.
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Well, if people are buying more Lucky Charms than Cheerios and Ceteris Paribus, they both have the same price,
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then people must like here I'm going to draw a conclusion now.
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Well, I'm now going to conclude that people prefer Lucky Charms over Cheerios.
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Now that may not be true in reality, but in my example that is a conclusion.
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And often times when we draw conclusions in economics there are two kinds of conclusions that we can draw.
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We can draw or we can come to conclusions that are what we call positive conclusions or normative conclusions.
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And what we're going to try and focus on in this class is we're going to primarily focus on positive conclusions, not normative conclusions.
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positive means let's see here what is what is and normative conclusions are what should
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be what should be we are going to avoid the what
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should be conclusions now you're going to want to make some
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normative conclusions as you go through this class you're going to say oh because of that, that means that's terrible, then this is what we should do.
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So for example, you might say, oh, we might find out economically that there are people in this world who can't have health care.
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They can't get help when they're sick.
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And you may think to yourself, oh my goodness.
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Now, the fact that we conclude that there are people who don't get medical help.
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That is a positive conclusion.
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It's just a truth.
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Nobody would argue.
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Generally speaking, people do not argue over positive conclusions.
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And so what I'm going to put over here is, I'm going to say here, no arguments.
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No arguments over positive economics.
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Sometimes we call it positive economics and normative economics.
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So I'm going to put positive econ, and here it's going to be normative econ, okay?
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So in positive economics, generally, people do not argue over the truth.
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Everybody agrees that 17 % of the people get no health care at all.
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Yes.
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What do your numbers say?
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17%.
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What do your numbers say?
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17%.
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We all agree there's no argument, but here's where it becomes argumentative, okay?
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People disagree over what that means we should do.
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People disagree because of their values, because of their value judgments, okay?
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So, values, because of their values, people disagree on normative economics about what should be done.
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And what some people are going to say is, wow, well, those 17 % of people, they should be able to get medical care.
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And therefore, what we should do is take some money from somewhere and give those people medical care.
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And some other person, because they have different values, they're going to say, no, that's not what it means at all.
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That would be very expensive.
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We can't take money away from those other things to give health care to these people.
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They're just going to have to deal with not having health care.
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And this is where people argue is in the normative economics.
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We will do a little bit of normative economics and you will hear me make statements that are related to normative economics.
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And I may say some things that you will disagree with.
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And when you disagree with me, chances are you have different values than I have.
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And that's okay.
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You can have different values than me.
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You should have different values than me you can have very similar values, but generally speaking, every human being has a different set of values.
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And so we're going to disagree sometimes on what should be done.
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But positive economics is what is, generally speaking, there are no arguments over that.
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And here's what I'm telling you.
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As far as positive economics, one of the things that we're going to learn in positive economics is the fact
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that when the price of something goes down, people do buy more of it.
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And we're going to get to that in a much later lesson.
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Okay?
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But that's an example of positive economics.
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All right.
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So economics is scientific.

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Vocabolario e note di pronuncia per questa lezione

Questa lezione di conversazione si basa sul video “Introduction to Economics Part 1 - Professor Ryan”. Le parole che ritornano più spesso: economics, assumption, conclusion, scarcity, positive. Questo video contiene 212 frasi e 2506 parole da ripetere con lo shadowing. Il parlato dura 17:43. Chi parla mantiene un ritmo costante di circa 141 parole al minuto, comodo per lo shadowing. Il 85% delle parole rientra nelle 3.000 più comuni dell’inglese; conviene studiare le altre prima di iniziare.

Vocaboli chiave di questo video

15 parole del video che vale la pena imparare, con pronuncia e significato:

ParolaPronunciaSignificato
economics sostantivo/ˌiːkəˈnɒmɪks/economia
assumption sostantivo/əˈsʌm(p).ʃ(ə)n/assunzione
conclusion sostantivo/kənˈkluːʒən/conclusione
variable aggettivo[ˈvæɹ.i.ə.bl̩]variabile, regolabile
disagree verbo/dɪsəˈɡɹi/non concordare, non combaciare
rational aggettivo/ˈɹæʃ(ə)nəl/razionale, lucido
principle sostantivo/ˈpɹɪn.sɪ.pəl/principio
argue verbo/ˈɑɹ.ɡju/discutere, dibattere
garbage sostantivo/ˈɡɑɹ.bɪd͡ʒ/immondizia, spazzatura
semester sostantivo/sɪˈmɛstɚ/semestre
tire verbo/ˈtaɪ̯ɚ/affaticarsi
lesson sostantivo/ˈlɛs.ən/lezione
define verbo/dɪˈfaɪn/definire, determinare
examine verbo/ɪɡˈzæmɪn/esaminare
conclude verbo/kənˈkluːd/finire, concludere

I phrasal verb che sentirai

ParolaSignificato
break up verbospezzettare, tagliuzzare
find out verboscoprire
go along with verboaccettare, adeguarsi
go through verboattraversare
write down verbosottoscrivere, annotare

Frasi da ripetere

Frasi brevi e complete del video che puoi riutilizzare nella conversazione di tutti i giorni:

  • I'm going to put quote marks around it.
  • And I'm going to say, you know what?
  • I'm trying to get rid of my garbage.
  • Which one do you want?
  • What do your numbers say?

La grammatica di questo video

Le strutture che chi parla usa di più, con le parole esatte del video:

StrutturaNel video
Frasi relative who / which + frase — un’informazione in più su una persona o una cosapeople who come · people who get · people who don
Forma passiva be + participio passato — conta ciò che accade, non chi lo fais called · should be done

Pronuncia a cui fare attenzione

Chi parla usa 77 contrazioni e forme ridotte, come we're, I'm, you're. Pronunciale nella forma breve, così come le senti.

  • I suoni “sh” e “zh”: assumption /əˈsʌm(p).ʃ(ə)n/, conclusion /kənˈkluːʒən/, rational /ˈɹæʃ(ə)nəl/, foundational /faʊnˈdeɪ.ʃə.nəl/
  • Parole lunghe — attenzione all’accento: economics /ˌiːkəˈnɒmɪks/, primarily /ˈpɹaɪ.mə.ɹə.li/, fundamental /ˌfʌn.dəˈmɛn.təl/, eliminate /ɪˈlɪm.ɪ.neɪt/, phenomenon /fəˈnɒm.ɪ.nən/

I suoni difficili per chi parla italiano:

  • Consonante finale — senza aggiungere una vocale dopo: economics /ˌiːkəˈnɒmɪks/, garbage /ˈɡɑɹ.bɪd͡ʒ/, conclude /kənˈkluːd/, isolate /ˈaɪ.sə.leɪt/, element /ˈɛləmənt/
  • /æ/ — più aperta della “e”: variable [ˈvæɹ.i.ə.bl̩], rational /ˈɹæʃ(ə)nəl/, examine /ɪɡˈzæmɪn/, relax /ɹɪˈlæks/, clarify /ˈklæɹ.ɪ.faɪ/

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Shadowing è una tecnica di apprendimento delle lingue supportata da studi scientifici, originariamente sviluppata per la formazione dei traduttori professionisti e resa popolare dal poliglotta Dr. Alexander Arguelles. Il metodo è semplice ma potente: ascolti un audio in inglese di madrelingua e lo ripeti immediatamente ad alta voce — come un'ombra che segue il parlante con un ritardo di solo 1–2 secondi. A differenza dell'ascolto passivo o degli esercizi di grammatica, lo shadowing costringe il tuo cervello e i muscoli della bocca a elaborare e riprodurre simultaneamente i modelli di discorso reale. La ricerca dimostra che migliora significativamente la precisione della pronuncia, l'intonazione, il ritmo, il discorso connesso, la comprensione dell'ascolto e la fluidità del parlato — rendendolo uno dei metodi più efficaci per la preparazione alla prova di speaking dell'IELTS e per la comunicazione reale in inglese.

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