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Modern Economics

Take a deeper look at modern economics and learn how it affects countries around the world, with this free course.

Publisher: Khan Academy
This free online modern economics course will teach you about inflation, deflation, capacity utilisation, employment rates, and the Consumer Price Index (CPI). Economics is a social science which studies how society uses limited resources. It deals with the production, distribution, and consumption of goods and services. To help you understand these concepts, this course will teach you about the China-US currency situation and Chinese inflation.
Modern Economics
  • Duration

    1.5-3 Hours
  • Students

  • Accreditation






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Inflation is often expressed as a percentage and indicates a decrease in the purchasing power of a nation's currency. This course will first discuss inflation. You will learn how it acts as a quantitative measure of the rate at which the average price level of selected goods and services in an economy increases over a period of time. You will then look into its opposite, which is deflation. Deflation is the decline in prices for goods and services and happens naturally when the money supply of an economy is fixed.

The Consumer Price Index (CPI) is used to examine the weighted average of prices of a basket of consumer goods and services. This may include transportation, food, and medical care. This course will discuss the CPI index along with Unemployment Rate. You will then study the data on Chinese foreign assets and Chinese - US balance of payments. You will also look into the effects of floating exchange on China and on the USA.

Following the recent global financial crisis, there has been a huge increase in people seeking to learn about how economies and modern economic systems work. By the end of this course, you will understand how economic decisions taken in one country can dramatically affect the economies of other countries around the world. So check out the course today, start gaining a deeper understanding of modern economic concepts and principles, and the interrelationship of global economies.

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