Transcript: Introduction to Economics (Dr. Chuck Streeter)

"Hello, and welcome! My name is Chuck, and I’m excited to guide you through this Introduction to Economics course. Whether you’re new to the subject or have some background, my goal is to help you see economics not just as a set of theories, but as a vital part of how we live, work, and serve others. Economics is not just a subject studied in classrooms or analyzed by policymakers; it’s the invisible hand guiding our daily lives. Every decision we make—how we spend, save, invest, and give—is an economic choice. From multinational corporations making billion-dollar transactions to a small family budgeting for the month, economics is at the heart of human activity."

 

"We live in a world where financial markets rise and fall, where inflation impacts the cost of groceries, where new technologies like cryptocurrency and artificial intelligence reshape industries, and where nations wrestle with trade policies, taxation, and debt. Economics isn’t just theoretical—it’s practical, real, and deeply influential. It affects your job prospects, your ability to own a home, the value of your retirement savings, and even the price of your morning coffee."

 

"But while many universities approach economics purely from a secular standpoint, here at Christian Leaders, we take a different perspective. Economics is not just about money, markets, or policies—it’s about people, ethics, and stewardship. As Christians, we ask deeper questions: But what does economics really mean in today’s world? And more importantly, what does God say about it? What does the Bible say about wealth and poverty? How should we manage resources responsibly? What role does generosity play in financial success? And how do we honor God with our economic decisions?" So what does economics really mean in today’s world? And more importantly, what does God say about it?

 
"At its core, economics is about the allocation of scarce resources in a world of unlimited wants. Whether we’re talking about natural resources like oil and water, human resources like labor and education, or financial resources like capital and credit, the question remains: How do we distribute them efficiently and ethically? Governments use monetary and fiscal policies to manage national economies. Businesses strategize supply chain management, pricing, and market competition. And individuals make choices about budgeting, debt, and financial planning."

 

"But beyond these technical terms lies a deeper reality: The way we handle resources reveals our values. In Genesis 1:28, God commands humanity to ‘Be fruitful and multiply, fill the earth and subdue it.’ This verse isn’t just about reproduction—it’s an economic principle. God designed us to be productive, to cultivate resources, and to build societies. Whether it’s farming, manufacturing, entrepreneurship, or digital innovation, our call is to manage what He has given us wisely."

"Scripture provides a wealth of economic wisdom. Consider Proverbs 13:11: ‘Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.’ This principle applies directly to modern financial strategies. Get-rich-quick schemes, speculative trading, and excessive risk-taking often lead to financial ruin. In contrast, disciplined investing, long-term savings, and steady, ethical business practices lead to sustainable growth."

 

"Another critical economic principle comes from Proverbs 22:7: ‘The rich rule over the poor, and the borrower is the slave of the lender.’ In today’s world, personal and national debt is at an all-time high. Credit cards, student loans, corporate borrowing, and government deficits are major concerns. Debt can be a tool for growth when used wisely—think of responsible business loans or mortgages. But when mismanaged, it leads to financial bondage, economic inequality, and even national crises."

 

"One of the most fundamental economic forces is labor—our work. We often think of work as just a way to earn a paycheck, but the Bible teaches us that work is a divine calling. Ecclesiastes 5:19 says, ‘Everyone also to whom God has given wealth and possessions and power to enjoy them, and to accept his lot and rejoice in his toil—this is the gift of God.’ Work isn’t just about income—it’s about purpose, productivity, and service. Whether you’re a teacher, engineer, entrepreneur, or tradesperson, your labor contributes to the economy and honors God."

 

"Now, let’s consider fairness in economic systems. Today, we hear terms like ‘income inequality,’ ‘fair trade,’ and ‘corporate social responsibility.’ These aren’t just modern concerns—they reflect biblical justice. Micah 6:8 challenges us: ‘What does the Lord require of you? To act justly, to love mercy, and to walk humbly with your God.’ This means ensuring fair wages, ethical business practices, and advocating for economic policies that protect the vulnerable rather than exploit them."

"Modern economics introduces complex systems—cryptocurrency, blockchain technology, high-frequency trading, and globalized commerce. But at its heart, the question remains the same: How do we steward resources wisely? Jesus Himself warned in Matthew 6:24, ‘No one can serve two masters… You cannot serve both God and money.’ This isn’t a rejection of wealth—it’s a warning against making wealth our ultimate pursuit. Economics should serve people and society, not the other way around."

 

"One of the most powerful economic principles in the Bible is generosity. 2 Corinthians 9:6-7 says, ‘Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.’ This principle isn’t just about charity—it’s about economic impact. Generosity fuels philanthropy, supports non-profits, and strengthens communities. In a world obsessed with accumulation, biblical economics teaches us the power of giving."

"Throughout this course, we will explore economic theories, market structures, government policies, and financial literacy. We will discuss the mechanics of supply and demand, inflation, GDP growth, taxation, and trade agreements. But we will also ask deeper questions: How do these economic principles align with biblical values? How do we create ethical businesses? How can financial stewardship lead to personal and societal transformation?"

 

"By studying economics through a biblical lens, we move beyond profits and losses—we explore purpose and responsibility. We don’t just analyze stock markets; we ask how financial decisions impact families and communities. We don’t just study economic policies; we evaluate their moral and ethical implications. We don’t just talk about wealth; we discuss the responsibility that comes with it."

"So, whether you’re aspiring to be a financial leader, an entrepreneur, a policymaker, or simply a better steward of your personal finances, this course will equip you with knowledge, wisdom, and a faith-based approach to economic decision-making. Economics is not just about money—it’s about choices, ethics, and faith. And when we apply biblical principles to economics, we don’t just build wealth—we build a better world."

 

"Welcome to Introduction to Economics. Let’s begin."