Although it is rooted in the concrete realities of life, economics often appears to students as a series of abstract nouns – productivity, supply, demand, price, surplus, scarcity and so on… that inevitably create a barrier between the student and the economic principles of enterprise.
From the author of comedy series “Yes Minister” and “Yes Prime Minister”, Sir Antony Jay, “The Foundations of Wealth” has been designed to present basic economics to pupils in an absorbing and entertaining way.
Keeping students’ attention whilst presenting economic principles through combining high quality animation and documentary film material, “The Foundations Of Wealth” features 10 video episodes on 2 DVDs with accompanying downloadable support material.
“The Foundations of Wealth” tells the story of how a primitive community makes its way from a subsistence economy to prosperity by a succession of devices – division of labour, mechanisation, money, markets, price etc. – as we follow two animated characters and the community they live in, through a series of economic changes and developments that illustrate the foundations of basic economic principles and mechanisms, which are then presented at work in the real world.
Carefully researched and developed with teachers to provide a valuable tool for teaching economics in the classroom, “The Foundations of Wealth” episodes are also suitable for any course where the basics of economics need to be introduced or explained in a clear, memorable and entertaining way!
Episode 1. How It All Began (11 mins) – Key concepts: subsistence level, subsistence economy, scarcity, surplus
Episode 2. Division of Labour – i. Product (9 mins) – Key concepts: organisation, specialisation, efficiency, investment, capital
Episode 3. Division of Labour – ii. Process (10 mins) – Key concepts: trade, productivity, exports and imports, production line
Episode 4. Mechanisation (10 mins) – Key concepts: mechanical device, energy source, harnessing
Episode 5. A Life Worth Living (11 mins) – Key concepts: cultivation, goods and services, natural resources, leisure
Episode 6. The Market (11 mins) – Key concepts: voluntary exchange, command economy, incentive
Episode 7. Money (11 mins) – Key concepts: token of value, store of value, measure of wealth
Episode 8. Supply, Demand and Price – i. Price and the consumer (13 mins) – Key concepts: prices as information, law of demand, relative value
Episode 9. Supply, Demand and Price – ii. Price and the producer (13 mins) – Key concepts: gluts and shortages, innovation, law of supply, equilibrium price
Episode 10.The Mixed Economy (11 mins) – Key concepts: planned economy, market economy, public goods
All 10 episodes are available on 2 chaptered DVD’s and are accompanied by downloadable worksheets to reinforce the economic principles covered – View Sample Support Material
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Viewtech Educational Media
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