How Markets Work is the first of two economics courses in the ISI Politics, Philosophy, and Economics program. This course takes as its subject matter the economic system in its primary role of providing for production, allocation of resources and products, and incomes. How do markets work in performing these functions? It demonstrates how markets provide coordination across vast distances and numbers of people without anyone “minding the store” to make sure effective coordination occurs. It describes why unplanned coordination is more effective in allowing people to make the most of their talents, meet their immediate material needs, and provide for the future than any panel of planning experts possibly could be. But it also explains that an effective system of markets is dependent on foundational requisites from law, government, and the culture.
This college course is open to students in any college and dual enrollment students. It is equivalent to ECO110 Introduction to Economics at The King’s College for online students.
For questions, please contact the Office of Educational Ventures.