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Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson4
This lesson will explain some of the basic economic concepts that a business owner needs to understand. These concepts apply both to large-scale situations (also known as macroeconomics) and to individual situations (known as microeconomics). While those topics are discussed in more detail in other lessons, this one provides a foundation.
The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.