This lecture is part of a course from The Great Courses called An Economic History of the World since 1400 taught by Professor Donald J. Harreld, Ph.D.. This course and over 300 other courses can be accessed with a subscription to Wondrium.
In this opening lecture of the course An Economic History of the World Since 1400, Professor Donald J. Harreld starts out by describing his own interest in economic history. He then lays out many of the terms that will be examined in various stages of the history he will be teaching in the course including production, demand, distribution, business contracts, markets, trade, and even a complex definition of capitalism itself. He also briefly describes some of the schools of economics that will be studied during the course such as neoclassical economics and Marxian economics.