Ideas in Economics (Doing Economics)¶

A film-based introduction to economic thinking | FLAME University | 2 Credits | Level 100

Economics is a way of understanding the world. This course uses six films as a gateway to fundamental economic ideas, pairing each with a Nobel Prize-winning contribution that shaped how economists think about markets, behavior, poverty, growth, and the environment.

No prior knowledge of economics is required. By the end of this course, you will have developed a strong grasp of economic reasoning and its applications to everyday life, policy, and the Indian economy.

The Six Modules¶

Module 1: Understanding Economic Thinking¶

The Big Short (2015) Richard Thaler

Scarcity, opportunity cost, trade-offs, market bubbles, and the clash between rational and behavioral decision-making. Why do financial crises happen, and what does it mean to think like an economist?

Start Module 1

Module 2: Incentives and Human Behavior¶

A Beautiful Mind (2001) John Nash

Game theory, strategic interactions, cooperation vs. competition, and how incentive structures shape human behavior. What happens when every individual acts in their own interest?

Start Module 2

Module 3: Market Dynamics and Labor Markets¶

Margin Call (2011) Paul Krugman

Supply, demand, equilibrium, market failures, labor markets, and globalization. How do prices coordinate millions of decisions, and what happens when markets break down?

Start Module 3

Module 4: Poverty, Inequality, and Development¶

Slumdog Millionaire (2008) Esther Duflo & Abhijit Banerjee

Measuring poverty, informal economies, livelihood strategies, and evidence-based approaches to development. What actually works in lifting people out of poverty?

Start Module 4

Module 5: Innovation, Technology, and Growth¶

Moneyball (2011) Robert Solow

Innovation, productivity, data-driven decision-making, and the economics of long-term growth. What drives economies forward, and how do new ideas displace old ones?

Start Module 5

Module 6: Environmental and Public Economics¶

Erin Brockovich (2000) Elinor Ostrom

Externalities, public goods, common resources, and sustainability. When markets fail to protect the environment, what can communities, governments, and institutions do?

Start Module 6

Course Features¶

Feature	Description
Film Analysis	Each module anchors on a feature film, with scene-by-scene economic deconstruction
Nobel Focus	Biographical profiles of laureates whose work illuminates each module's theme
:india: Indian Context	Dedicated essays connecting economic concepts to the Indian economy
Interactive Sims	30+ browser-based simulations from the Introduction to Economics open textbook
Quizzes	10-question self-assessment per module with explanations
Glossary	120+ terms defined with examples

Getting Started¶

Begin with Module 1: Understanding Economic Thinking
Watch the assigned film before or alongside the module reading
Explore the interactive simulations linked in each module
Test yourself with the end-of-module quiz
Read the Indian Context essays for local applications

Prepared by Ravikiran Naik, FLAME University