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Microeconomics- Everything You Need to Know
 
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In this video I cover all the concepts for an introductory microeconomics course and AP course. I go super fast so don't take notes. Focus on the big picture ideas, identfy what you still need to practoce, and go back and watch my Unit Summary videos. If you like my videos please get the Ultimate Review Packet. It is the best way to say thank you. It is awesome and it's only $10. Here is the link: http://www.acdcecon.com/#!review-packet/czji I cover scarcity, opportunit costs, the PPC, comparative advantage, demand, supply, ceilings, floors, shifts, elasticity, taxes, consumer suprlus, consumer choice, costs of production, perfect competition, monopolies, opligopolies, mono[olistic competition, labor markets and firms, monopsonies, public goods, externalities, and the Lorenz curve. Wow! That's a lot. Get ready. Here we go!!!!!!!!!!!!! Thank you to Austin for organizing the following: Unit 1 1:00 Basics 1:13 PPC 2:17 Absolute & Comparative Advantage 3:07 Circular Flow Model Unit 2 4:04 Demand & Supply 5:26 Substitutes & Compliments 5:36 Normal & Inferior Goods 5:46 Elasticity 7:35 Consumer & Producer Surplus 7:52 Price Controls, Ceilings & Floors 8:37 Trade 9:08 Taxes 9:56 Maximizing Utility Unit 3 11:03 Production, Inputs & Outputs 11:16 Law of Diminishing Marginal Returns 11:36 Costs of Production 13:00 Economies of Scale 13:37 Perfect Competition 14:25 Profit-Maximizing Rule, MR=MC 15:20 Shut down Rule 16:05 Accounting & Economic Profit 16:30 Short-Run, Long-Run 16:56 Productive & Allocative Efficiency Unit 4 18:02 Monopoly 18:53 Natural Monopoly 20:01 Price Discrimination 20:22 Oligopoly 20:31 Game Theory 20:42 Monopolistic Competition Unit 5 21:51 Derived Demand 22:07 Minimum Wage 22:19 MRP & MRC 22:52 Labor Market 23:30 Monopsony 24:05 Least-Cost Rule Unit 6 25:11 Market Failures 25:27 Public Goods 26:00 Externalities 27:21 Lorenz Curve 27:44 Gini Coefficient 27:53 Types of Taxes Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 514025 Jacob Clifford
Intermediate Microeconomics - Chapter 1 The Market
 
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Burkhard C. Schipper from the University of California, Davis, discusses material from Chapter 1, The Market, in his course Intermediate Microeconomic Theory. The focus is on demand functions and Pareto efficiency, both concepts that should be already familiar from principles of economics.
Views: 37267 Burkhard C. Schipper
Intermediate Microeconomics - Chapter 2 Budget Constraint
 
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Burkhard C. Schipper from the University of California, Davis, discusses material from Chapter 2, Budget Constraint, in his course Intermediate Microeconomic Theory. He introduces a simple of model of budget constraints of a consumer, studies changes of the budget set with respect to changes in prices and income, and discusses how taxes, subsidies, rationing, and inflation affect budget constraints. As an application he illustrates how the Food Stamp program affects budget constraints.
Views: 33200 Burkhard C. Schipper
Keynesian economics | Aggregate demand and aggregate supply | Macroeconomics | Khan Academy
 
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Contrasting Keynesian and Classical Thinking Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/aggregate-supply-demand-topic/keynesian-thinking/v/risks-of-keynesian-thinking?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/aggregate-supply-demand-topic/monetary-fiscal-policy/v/tax-lever-of-fiscal-policy?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 692011 Khan Academy
Modern Principles Microeconomics by Cowen 1st Edition
 
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Contact us to acquire the Test Bank and/or Solution Manual; Email: atfalo2(at)yahoo(dot)com Skype: atfalo2
Introduction to economics | Supply, demand, and market equilibrium | Microeconomics | Khan Academy
 
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Basic introduction to what microeconomics and macroeconomics study. A bit on Adam Smith. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/v/law-of-demand?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy is a nonprofit with a mission to provide a free, world-class education for anyone, anywhere. We believe learners of all ages should have unlimited access to free educational content they can master at their own pace. We use intelligent software, deep data analytics and intuitive user interfaces to help students and teachers around the world. Our resources cover preschool through early college education, including math, biology, chemistry, physics, economics, finance, history, grammar and more. We offer free personalized SAT test prep in partnership with the test developer, the College Board. Khan Academy has been translated into dozens of languages, and 100 million people use our platform worldwide every year. For more information, visit www.khanacademy.org, join us on Facebook or follow us on Twitter at @khanacademy. And remember, you can learn anything. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 1786334 Khan Academy
Practice Test Bank for Modern Principles Microeconomics by Cowen 3rd Edition
 
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Contact us to acquire the Test Bank and/or Solution Manual; Email: atfalo2(at)yahoo(dot)com Skype: atfalo2
Lec 1 | MIT 14.01SC Principles of Microeconomics
 
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Lecture 1: Introduction to Microeconomics Instructor: Jon Gruber, 14.01 students View the complete course: http://ocw.mit.edu/14-01SCF10 License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
Views: 895049 MIT OpenCourseWare
Cowen/Tabarrok, Modern Principles of Economics 4e
 
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From the Authors: Writing about economics at Marginal Revolution taught us to use vivid examples and to get to the point quickly. We brought these skills to our textbook, Modern Principles of Economics. From the first sentence, The prisoners were dying of scurvy, typhoid fever, and smallpox, but nothing was killing them more than bad incentives. to the last, no other textbook teaches the economic way of thinking so well or so memorably. Modern Principles means modern content and modern delivery. We cover material that many other textbooks ignore, such as how managers should choose between piece rates and tournaments and how firms can increase their profits using clever forms of price discrimination such as bundling and tying. In macroeconomics, we have created a simple yet powerful AD-AS model that combines insights from New Keynesian and Real Business Cycle models. We have also created the Super Simple Solow model which for the first time makes the Solow model of economic growth accessible to principles of economics students. High-quality videos integrated directly into the textbook make Modern Principles a new kind of textbook, one born in the age of the internet. No other textbook has the quantity and quality of supplementary material available with Modern Principles. Whether you are looking to flip the classroom or just for the occasional video to grab the student’s attention before the lecture, you will find what you need in Modern Principles. The superb course management system also makes it easy to assign videos and grade questions.
Views: 1986 Macmillan Learning
Introduction to welfare economics and pareto optimality
 
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Subject :Economic Paper : Advanced microeconomics
Views: 20215 Vidya-mitra
Economic models | Basic economics concepts | AP Macroeconomics and Microeconomics | Khan Academy
 
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Why economists use models and their limitations. View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/basic-economics-concepts-macro/introduction-to-the-economic-way-of-thinking-macro/v/economic-models?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us! Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today! Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
Views: 58294 Khan Academy
Price elasticity of demand | Elasticity | Microeconomics | Khan Academy
 
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Introduction to price elasticity of demand Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/elasticity-tutorial/price-elasticity-tutorial/v/more-on-elasticity-of-demand?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/oil-prices-tutorial/v/breakdown-of-gas-prices?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 1172568 Khan Academy
Economic Systems and Macroeconomics: Crash Course Economics #3
 
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In which Jacob Clifford and Adriene Hill teach you about Economic Systems and Macroeconomics. So, economics is basically about choices. We'll look at some of the broadest economic choices when we talk about the difference between planned economies and market economies. We'll get into communism, socialism, command economies, and capitalism. We'll look at how countries choose the kind of system they're going to use (spoiler alert: many end up with mixed economies). We'll also look into how individuals make economic choices. Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall TO: Everyone FROM: Martin To gild refined gold is just silly. TO: Dana FROM: Cameron Still holding out. We're going to make it! Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever: Raymond Cason, Marcel Pogorzelski, Cowgirlgem, Chua Chen Wei, Catherine Emond, Victoria Uney, Robin Uney, Damian Shaw, Sverre Rabbelier Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1497231 CrashCourse
Modern Principles Macro, Part One
 
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An introduction to the dynamic aggregate demand-aggregate supply model in Tyler Cowen and Alex Tabarrok's textbook, Modern Principles: Macroeconomics. Covers real business cycle theory and new Keynesian theory. More at www.SeeTheInvisibleHand.com
Views: 3245 Alex Tabarrok
Ricardian Theory Of Rent/Scarcity Rent & Differential Rent
 
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What is rent According To Classical Economists: Rent is associated to land The cost of the use of land is rent Supply of land is fixed It is price inelastic The value of land use is zero "Portion of the produce of the earth which is paid to a landlord on account of the original and indestructible powers of the soil. David Ricardo Ricardo in his theory of rent has emphasized that rent is a reward for the services of land which is fixed in supply. Secondly, it arises due to original qualities of land which are indestructible". (The original indestructible powers of the soil include natural soil, fertility, mineral deposits, climatic conditions etc.) Economic Rent: Economic rent is a modern concept of rent. Factor of production should be Price Inelastic. Economic rent is a surplus or excess over the transfer earnings. Every factor of production produces economic rent, if their supply is fixed in short run. Pro. Marshall called it quasi rent. The law of rent was formulated by David Ricardo around 1809, and presented in its most developed form in his magnum opus, On the Principles of Political Economy and Taxation(19April1817). This is the origin of the term Ricardian rent. Ricardo's formulation of the law was the first clear exposition of the source and magnitude of rent, and is among the most important and firmly established principles of economics. Assumptions: No Alternative Use: It has been assumed that land has no alternative use as it is used only for farming. Difference in Fertility: The theory also assumes that fertility differs from land to land. It means some pieces of land are more fertile as compared to other pieces of land. Law of Diminishing Returns: The theory assumes that law of diminishing returns holds in agriculture. It states that output will not be increasing at the same rate at which labour and capital increases. Increase in Population: The population of the country increases continuously which results in an increase in agricultural production to feed the larger population. Long Run: The Ricardian theory of rent is based upon the assumption of long period. This assumption is basic to the classical economics. No-Rent Land: The Ricardian theory assumes the existence of no-rent land which does not enjoy any rent. Scarcity of Land: The Ricardian theory assumes that the supply of superior grade of land is limited. Original and Indestructible Powers of the Soil: The Ricardian theory rests upon the fundamental assumption that land possesses some original and indestructible powers. Original and Indestructible Powers of the Soil: The Ricardian theory rests upon the fundamental assumption that land possesses some original and indestructible powers. Perfect Competition: The theory assumes the existence of perfect competition in the market. Since under perfect competition, the product price is given, economic rent is that surplus which accrues over and above the cost of production. Descending Order of Cultivation: Theory assumes that different tracts of land are brought under cultivation in a descending order of fertility. In the words of Ricardo, “The most fertile and most favorably situated land will be first cultivated” Scarcity Rent: Ricardo assumed that land had only one use—to grow corn. This meant that its supply was fixed, Hence the price of land was totally determined by the demand for land. In other words, all the price of a factor of production in perfectly inelastic supply is economic rent—it has no transfer earnings. Thus, it was the high price of corn which caused an increase in the demand for land and a rise in its price, rather than the price of land pushing up the price of corn. However, this analysis depends on the assumption that land has only one use. In the real world a particular piece of land can be put to many different uses. This means its supply for any one use is elastic, so that it has transfer earnings.
Views: 5705 Know Economics

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