Скачать или смотреть Open and Closed Economies: What Do Countries Choose and Why? Episode № 5

What makes an economy “open” or “closed”?
Why do some countries thrive through global trade, while others try to stay isolated and self-sufficient?

In this video, we explore open and closed economies — what they are, how they work, and how they shape the world around us.
You’ll learn:
🌐 The key differences between open and closed economies
💰 The main advantages and disadvantages of both systems
📊 Real-world examples — from South Korea and Singapore to China and North Korea
⚖️ Why finding the right balance between openness and protection is essential in the global economy

By the end, you’ll understand how trade, capital, technology, and innovation connect countries — and why every nation must decide how open it wants to be.

🎯 Perfect for students, educators, and anyone curious about global economics, international trade, and economic policy.

📌 Watch next: Aggregate Demand and Supply (AD–AS Model): The Foundation of Macroeconomics Everyone Should Know
📌 Explore our full course: Macroeconomics, Money & Global Trends →    • Macroeconomics, Money & Global Trends - Th...  
📌 Quick explanations of economic terms: Economics Explained →    • Economics Explained  
📌 Understanding Money →    • Money  
📌 Learn more: Closed Economy vs. FreeTrade: Definitions, Explanation/Comparison and Examples → One Minute Economics →    • Autarky (Closed Economy*) vs. FreeTrade: D...  

Timestamps:

00:00 - 01:10 – Introduction
01:10 - 02:35 – How an Open Economy Works
02:35 - 04:05 –The Advantages of a Closed Economy
04:05 - 05:16 – ADVANTAGES OF AN OPEN ECONOMY
05:16 - 06:20 –RISKS OF AN OPEN ECONOMY
06:20 - 07:47 – THE GOLDEN MEAN
07:47 - 09:35 - MODERN CONTEXT
09:35 - 10:31– CONCLUSIONS

#OpenEconomy #ClosedEconomy #GlobalEconomy #InternationalTrade #Globalization #EconomicsExplained