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Economics is much more than just numbers and graphs. In fact, we can use economics to explain much of what we encounter in our daily lives. For instance, why is customer service at your local restaurant usually better than that of the cable company? To find the answer we can take a closer look at the incentives at play. For another example, we look to eighteenth century Great Britain. What did bad incentives have to do with the death rate of prisoners shipped from England to Australia? Let’s find out together in this first video of MRU’s course on Principles of Economics: Microeconomics. **TEACHER RESOURCES** Supply and Demand 5-day HS unit plan: https://mru.io/q3u Assessment questions: https://mru.io/principles-1270a EconInbox, a free weekly email of class-ready news articles, videos, and more: https://mru.io/econinbox-6387e More high school teacher resources: https://mru.io/high-school-5b02b More professor resources: https://mru.io/university-teaching-4f406 **CONTINUE LEARNING** Next video – Opportunity Cost and Tradeoffs: https://mru.io/uzq Practice questions: https://mru.io/introduction-microecon... Full Microeconomics course: https://mru.io/8lk 00:00 Introduction 00:30 Incentives 01:06 Using Incentives to Improve Results 02:22 Why Should You Learn Economics?