Economics: The ideas

Economics has been shaped and influenced by different economists and schools of thoughts for centuries.

The three videos here give you a very quick and fun insight into three of the most important economists ever, Adam Smith, Frederick Hayek and John Maynard Keynes.

Watch the Invisible Hand video first, this is the very first Economic theory that was developed, next watch the video called “The Paradox of Thrift” which introduces Hayek and Keynes both are only 60 seconds long!

Finally the YouTube video is a rap battle between Hayek and Keynes and is good fun to watch as well as covering really important ideas.

As a task see if you can summarise the main idea of each economist into 140 characters to send as a tweet on twitter!

@priestleyeconom on Twitter

The resources below are here to help you with this session. The documents can be downloaded to your device and web links can be viewed online. 

What to do when you're finished ?

Keep a copy of your work safe until your first days at college. Bring it with you for your first lesson in this subject. 

Youtube Videos

My To Do List

This list shows you all of the different activites available through Virtual Priestley. You can tick them off as you go.

Don’t feel you have to complete every task, just do the ones you think are relevant to you.