Course: Microeconomics and Macroeconomics Dnatube
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Lec 1 - Production Possibilities Frontier
Production Possibilities Frontier Tradeoffs for a hunter gatherer and the production possibilities frontier. Ceteris Paribus
Lec 2 - Opportunity Cost
Opportunity Cost Opportunity cost (and marginal cost) based on the PPF
Lec 3 - Increasing Opportunity Cost
Increasing Opportunity Cost Why the opportunity cost may increase as you pursue more rabbits
Lec 4 - Allocative Efficiency and Margin ...
Allocative Efficiency and Marginal Benefit Marginal Utility and maximization
Lec 5 - Economic Growth through Investment
Economic Growth through Investment How investing for capital formation can expand the production possibilities frontier (PPF)
Lec 6 - Comparative Advantage Specializa ...
Comparative Advantage Specialization and Gains from Trade How two parties can get better outcomes by specializing in their comparative advantage and trading
Lec 7 - Comparative Advantage and Absolu ...
Comparative Advantage and Absolute Advantage Showing that a party benefits from trade as long as there is a comparative advantage (and not necessarily an absolute advantage)
Lec 8 - Law of Demand
Law of Demand Example of the law of demand
Lec 9 - Price of Related Products and Demand
Price of Related Products and Demand How changes in the price of related goods can shift demand
Lec 10 - Changes in Income, Population, ...
Changes in Income, Population, or Preferences How demand can be effected by changes in income, population or preferences
Lec 11 - Normal and Inferior Goods
Normal and Inferior Goods How the demand for some goods could actually go down if incomes go up
Lec 12 - Inferior Goods Clarification
Inferior Goods Clarification More clarification on inferior and normal goods
Lec 13 - Law of Supply
Law of Supply Introduction to the Law of Supply
Lec 14 - Factors Affecting Supply
Factors Affecting Supply How the price of inputs, price of related goods, number of suppliers technology, and expected future prices affects the supply curve
Lec 15 - Market Equilibrium
Market Equilibrium Equilibrium price and quantity for supply and demand
Lec 16 - Changes in Market Equilibrium
Changes in Market Equilibrium How the equilibrium price or quantity might change due to changes in supply or demand
Lec 17 - Price Elasticity of Demand
Price Elasticity of Demand Introduction to price elasticity of demand
Lec 18 - More on Elasticity of Demand
More on Elasticity of Demand Looking a bit deeper at why elasticity changes despite having a linear demand curve
Lec 19 - Perfect Inelasticity and Perfec ...
Perfect Inelasticity and Perfect Elasticity of Demand Extreme examples of price elasticity of demand
Lec 20 - Constant Unit Elasticity
Constant Unit Elasticity What a demand curve with constant unit elasticity would look like
Lec 21 - Total Revenue and Elasticity
Total Revenue and Elasticity Thinking about how total revenue and elasticity are related
Lec 22 - More on Total Revenue and Elast ...
More on Total Revenue and Elasticity Clarification on the relationship between total revenue and elasticity
Lec 23 - Cross Elasticity of Demand
Cross Elasticity of Demand Price of one good effecting quantity demanded of another
Lec 24 - Elasticity of Supply
Elasticity of Supply Thinking about elasticity of supply
Lec 25 - Elasticity and Strange Percent ...
Elasticity and Strange Percent Changes Why we calculate percent changes in a strange way when calculating elasticities
Lec 26 - Demand Curve as Marginal Benefi ...
Demand Curve as Marginal Benefit Curve Thinking about a demand curve in terms of quantity driving price
Lec 27 - Consumer Surplus Introduction
Consumer Surplus Introduction Consumer surplus as difference between marginal benefit and price paid
Lec 28 - Total Consumer Surplus as Area
Total Consumer Surplus as Area Looking at consumer surplus as area between the demand curve and the market price
Lec 29 - Producer Surplus
Producer Surplus Looking at the supply curve as an opportunity cost curve. Understanding the producer surplus as the area between the supply curve and the market price
Lec 30 - Rent Control and Deadweight Loss
Rent Control and Deadweight Loss How instituting a price ceiling lower than the equilibrium price reduces the total surplus (dead weight loss)
Lec 31 - Minimum Wage and Price Floors
Minimum Wage and Price Floors How a minimum wage might effect the labor market
Lec 32 - Taxation and Dead Weight Loss
Taxation and Dead Weight Loss The effect of taxation on the equilibrium price and quantity
Lec 33 - Percentage Tax on Hamburgers
Percentage Tax on Hamburgers What would happen if we have a percentage tax instead of a fixed dollar amount
Lec 34 - Taxes and Perfectly Inelastic D ...
Taxes and Perfectly Inelastic Demand Who bears the burden for the taxes when demand is inelastic
Lec 35 - Taxes and Perfectly Elastic Demand
Taxes and Perfectly Elastic Demand Who bears the burden for a tax on a good with perfectly elastic demand
Lec 36 - Marginal Utility
Marginal Utility Marginal utility and marginal benefit. How you would spend $5 on chocolate and fruit
Lec 37 - Equalizing Marginal Utility per ...
Equalizing Marginal Utility per Dollar Spent Why the marginal utility for dollar spent should be theoritically equal for the last increment of either good purchased
Lec 38 - Deriving Demand Curve from Twea ...
Deriving Demand Curve from Tweaking Marginal Utility per Dollar Seeing what happens to quantity demanded when price changes
Lec 39 - Budget Line
Budget Line What I can buy with my income
Lec 40 - Optimal Point on Budget Line
Optimal Point on Budget Line Using indifference curves to think about the point on the budget line that maximizes total utility
Lec 41 - Types of Indifference Curves
Types of Indifference Curves Indifference curves for normal goods, substitutes and perfect complements
Lec 42 - Economic Profit vs Accounting P ...
Economic Profit vs Accounting Profit Difference between a firm's accounting and economic profit
Lec 43 - Depreciation and Opportunity Co ...
Depreciation and Opportunity Cost of Capital How to account for things when you own the building instead of renting it
Lec 44 - Fixed, Variable, and Marginal Cost.
Fixed, Variable, and Marginal Cost. Thinking about average fixed, variable and marginal cost
Lec 45 - Visualizing Average Costs and M ...
Visualizing Average Costs and Marginal Costs as Slope Graphing variable cost, fixed cost and total cost
Lec 46 - Marginal Cost and Average Total ...
Marginal Cost and Average Total Cost Looking at marginal and average total cost in the context of a juice business
Lec 47 - Marginal Revenue and Marginal Cost
Marginal Revenue and Marginal Cost Thinking about a rational quantity of juice to produce
Lec 48 - Marginal Revenue Below Average ...
Marginal Revenue Below Average Total Cost Why it is rational to produce at a loss
Lec 49 - Long Term Supply Curve and Econ ...
Long Term Supply Curve and Economic Profit Understanding the long term supply curve in terms of economic profit
Lec 50 - Perfect Competition
Perfect Competition Conditions for perfect competition. Looking at the airline industry
Lec 51 - Monopoly Basics
Monopoly Basics Thinking about what would happen with one airline. The opposite of perfect competition
Lec 52 - Monopolist Optimizing Price (pa ...
Monopolist Optimizing Price (part 1)- Total Revenue. Starting to think about how a monopolist would rationally optimize profits
Lec 53 - Monopolist Optimizing Price (pa ...
Monopolist Optimizing Price (part 2)- Marginal Revenue Plotting the marginal revenue curve for a monopolist
Lec 54 - Monopolist Optimizing Price (pa ...
Monopolist Optimizing Price (part 3)- Dead Weight Loss.avi Showing that what is optimal for the monopolist is not optimal for society
Lec 55 - Optional Calculus Proof to Show ...
Optional Calculus Proof to Show that MR has Twice Slope of Demand Using some basic calculus to show that marginal revenue has twice the slope of the demand curve for a monopolist
Lec 56 - Review of Revenue and Cost Grap ...
Review of Revenue and Cost Graphs for a Monopoly Review of marginal revenue (MR), total revenue (TR), marginal cost (MC) and average total cost (ATC) for a monopoly
Lec 57 - Oligopolies and Monopolisitc Co ...
Oligopolies and Monopolisitc Competition Thinking about different markets that are in-between monopolies and perfect competition
Lec 58 - Monopolistic Competition and Ec ...
Monopolistic Competition and Economic Profit Why it is hard for a monopolisitc competitor to make economic profit in the long run
Lec 59 - Oligopolies, Duopolies, Collusi ...
Oligopolies, Duopolies, Collusion, and Cartels Thinking about when oligopolies behave more like monopolies or perfect competitors
Lec 60 - Prisoners' Dilemma and Nash Equ ...
Prisoners' Dilemma and Nash Equilibrium Why two not-so-loyal criminals would want to snitch each other out
Lec 61 - More on Nash Equilibrium
More on Nash Equilibrium Looking more closely at the definition of Nash Equilibrium
Lec 62 - Why Parties to Cartels Cheat
Why Parties to Cartels Cheat Why duopolists would benefit to form a cartel and why it makes sense for them to cheat
Lec 63 - Game Theory of Cheating Firms
Game Theory of Cheating Firms Pareto Optimality and more on Nash Equilibrium. Seeing how cheating duopolists parallels the prisoners dilemma
Lec 64 - Negative Externalities
Negative Externalities Taking negative externalities into account when thinking about the optimal equilibrium price and quantity
Lec 65 - Taxes for Factoring in Negative ...
Taxes for Factoring in Negative Externalities How to factor in negative externalities through taxation
Lec 66 - Positive Externalities
Positive Externalities Factoring in external benefits
Lec 67 - Tragedy of the Commons
Tragedy of the Commons How public resources can be abused
Lec 68 - First Degree Price Discrimination
First Degree Price Discrimination Charging different consumers different amounts in an attempt to optimize economic profit
Lec 69 - A Firm's Marginal Product Reven ...
A Firm's Marginal Product Revenue Curve Thinking about how much incremental benefit a firm gets from hiring one more person
Lec 70 - How Many People to Hire Given t ...
How Many People to Hire Given the MPR curve Thinking about how many people it makes sense to hire. Brief discussion of a monopsony.
Lec 71 - Adding Demand Curves
Adding Demand Curves How to add demand curves
Lec 72 - Circular Flow of Income and Exp ...
Circular Flow of Income and Expenditures Understanding the flow of resources in the simplest possible economy
Lec 73 - Parsing Gross Domestic Product
Parsing Gross Domestic Product Understanding what GDP does and doesn't measure.
Lec 74 - More on Final and Intermediate ...
More on Final and Intermediate GDP Contributions What happens when a good is not finished in a period
Lec 75 - Investment and Consumption
Investment and Consumption Difference between every day and economic notions of investment and consumption
Lec 76 - Income and Expenditure Views of GDP
Income and Expenditure Views of GDP Looking at a simple model of an economy
Lec 77 - Components of GDP
Components of GDP Understanding the components of the expenditure view of GDP. Consumption, investment, government spending and net exports
Lec 78 - Examples of Accounting for GDP
Examples of Accounting for GDP Thinking about how different types of expenditures would be accounted for in GDP
Lec 79 - Real GDP and Nominal GDP
Real GDP and Nominal GDP Using real GDP as a measure of actual productivity growth
Lec 80 - GDP Deflator
GDP Deflator Relationship between the GDP deflator, nominal GDP and real GDP
Lec 81 - Example Calculating Real GDP wi ...
Example Calculating Real GDP with a Deflator Simple example of calculating Real GDP from Nominal GDP
Lec 82 - Introduction to Inflation
Introduction to Inflation Basics of price inflation and the CPI (consumer price index)
Lec 83 - Actual CPI-U Basket of Goods
Actual CPI-U Basket of Goods Exploring the actual weightings for the CPI-U basket of goods
Lec 84 - Phillips Curve
Phillips Curve The observation that inflation and unemployment tend to be inversely correlated
Lec 85 - Interest as Rent for Money
Interest as Rent for Money Thinking about interest as the price of money. Looking at money from a supply and demand perspective
Lec 86 - Money Supply and Demand Impacti ...
Money Supply and Demand Impacting Interest Rates Examples showing how various factors can affect interest rates
Lec 87 - The Business Cycle
The Business Cycle The business cycle and how it may be driven by emotion
Lec 88 - Aggregate Demand
Aggregate Demand Understanding how aggregate demand is different from demand for a specific good or service. Justifications for the aggregate demand curve being downward sloping
Lec 89 - Shifts in Aggregate Demand
Shifts in Aggregate Demand Factors that might shift aggregate demand
Lec 90 - Long-Run Aggregate Supply
Long-Run Aggregate Supply Thinking about why aggregate supply may not be influenced by prices in the long-run
Lec 91 - Short Run Aggregate Supply
Short Run Aggregate Supply Justifications for the aggregate supply curve to be upward sloping in the short-run
Lec 92 - Demand-Pull Inflation under Johnson
Demand-Pull Inflation under Johnson Thinking about whether inflation in the late 1960s is consistent with the AD-AS model
Lec 93 - Real GDP driving Price
Real GDP driving Price Thinking about how high utilization could drive price as another justification for an upward sloping short-run aggregate supply curve
Lec 94 - Cost Push Inflation
Cost Push Inflation How an oil shock can slow the economy while causing inflation
Lec 95 - Monetary and Fiscal Policy
Monetary and Fiscal Policy Basic mechanics of monetary and fiscal policy
Lec 96 - Tax Lever of Fiscal Policy
Tax Lever of Fiscal Policy How government can effect aggregate demand through tax policy
Lec 97 - Breakdown of Gas Prices
Breakdown of Gas Prices Where the dollars at the pump go
Lec 98 - Short-Run Oil Prices
Short-Run Oil Prices Thinking about what moves oil prices
Lec 99 - Keynesian Economics
Keynesian Economics Contrasting Keynesian and Classical Thinking
Lec 100 - Risks of Keynesian Thinking
Risks of Keynesian Thinking Why Keynesian thinking might not be ideal sometimes
Lec 101 - Overview of Fractional Reserve ...
Overview of Fractional Reserve Banking Big picture of how money enters circulation and how lending can increase the money supply
Lec 102 - Weaknesses of Fractional Reser ...
Weaknesses of Fractional Reserve Lending Weaknesses of Fractional Reserve Lending
Lec 103 - Full Reserve Banking
Full Reserve Banking Overview of full reserve banking in comparison to fractional reserve banking
Lec 104 - Money Supply- M0 M1 and M2
Money Supply- M0 M1 and M2 Different ways of measuring the money supply
Lec 105 - Simple Fractional Reserve Acco ...
Simple Fractional Reserve Accounting (part 2) How banks can actually create checking accounts under a fractional reserve system
Lec 106 - MPC and Multiplier
MPC and Multiplier Introduction to the marginal propensity to consume and the multiplier
Lec 107 - Mathy Version of MPC and Multi ...
Mathy Version of MPC and Multiplier (optional) Generalizing what we did in the last video with more math
Lec 108 - Consumption Function Basics
Consumption Function Basics The basic idea of a consumption function
Lec 109 - Generalized Linear Consumption ...
Generalized Linear Consumption Function Generalizing a linear consumption function as a function of aggregate income
Lec 110 - Consumption Function with Inco ...
Consumption Function with Income Dependent Taxes Thinking about a consumption function where taxes are also a function of income (which is more realistic than constant taxes)
Lec 111 - Keynesian Cross
Keynesian Cross Analyzing planned expenditures versus actual output using the Keynesian Cross
Lec 112 - Details on Shifting Aggregate ...
Details on Shifting Aggregate Planned Expenditures Showing how a change in government spending can lead to a new equilibrium
Lec 113 - Keynesian Cross and the Multiplier
Keynesian Cross and the Multiplier More on shifting aggregate planned expenditures. Connecting to the multiplier
Lec 114 - Investment and Real Interest Rates
Investment and Real Interest Rates Intuition as to why high real interest rates lead to low investment and why low rates lead to high investment
Lec 115 - Connecting the Keynesian Cross ...
Connecting the Keynesian Cross to the IS-Curve Introduction to the Investment/Savings curve
Lec 116 - Loanable Funds Interpretation ...
Loanable Funds Interpretation of IS Curve Thinking about how real GDP can drive real interest rates
Lec 117 - Polyalphabetic Cipher
Polyalphabetic Cipher Creating a lighter fingerprint with a more intricate word-based cipher
Lec 118 - LM part of the IS-LM model
LM part of the IS-LM model How the theory of liquidity preference drives demand for money and the LM (liquidity preference-money supply) curve
Lec 119 - Government Spending and the IS ...
Government Spending and the IS-LM model How a change in fiscal policy shifts the IS curve
Lec 120 - Balance of Payments- Current A ...
Balance of Payments- Current Account Understanding the United States Current Account in 2011
Lec 121 - Balance of Payments- Capital A ...
Balance of Payments- Capital Account Understanding how changes in foreign ownership of assets effects balance of payments
Lec 122 - Why Current and Capital Accoun ...
Why Current and Capital Accounts Net Out Intuition behind why the current account and capital account should balance
Lec 123 - Accumulating Foreign Currency ...
Accumulating Foreign Currency Reserves How and why a central bank would build foreign currency reserves
Lec 124 - Using Reserves to Stabilize Cu ...
Using Reserves to Stabilize Currency How a central bank could use foreign currency reserves to keep its own currency from devaluing
Lec 125 - Financial Crisis in Thailand C ...
Financial Crisis in Thailand Caused by Speculative Attack How a currency crisis in Thailand led to a banking crisis in the 1990s
Lec 126 - Math Mechanics of Thai Banking ...
Math Mechanics of Thai Banking Crisis Going through the mechanics of how a Thai financial institution can lose their shirt when their currency devalues.
Lec 127 - Greek Debt Recession and Auste ...
Greek Debt Recession and Austerity (part 1) A primer of why Greece is in a tough situation (more in future videos)
Lec 128 - Greek Financial Crisis (part 2)
Greek Financial Crisis (part 2) What Greece could have done if it had it's own currency
Lec 129 - How and why Greece would leave ...
How and why Greece would leave the Euro (part 3) The pain and mechanics of leaving the Euro
Lec 130 - Why Europe is worried about Greece
Why Europe is worried about Greece Why the Greek situation is scary for Europe as a whole
Lec 131 - LeBron asks about free throws ...
LeBron asks about free throws versus three pointers LeBron James asks Sal Khan whether it is easier to make three free throws or one three pointer
Microeconomics and Macroeconomics
Source of these courses is khan
Topics covered in an traditional college level introductory microeconomics and macroeconomics course
khan Website: http://www.dnatube.com/school/khan
COURSE NAME: Microeconomics and Macroeconomics