Lecture Description
Why we calculate percent changes in a strange way when calculating elasticities
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Course Index
- Production possibilities frontier
- Opportunity Cost
- Increasing opportunity cost
- Allocative efficiency and marginal benefit
- Economic growth through investment
- Comparative advantage specialization and gains from trade
- Comparative advantage and absolute advantage
- Law of demand | Supply, demand, and market equilibrium
- Price of related products and demand
- Changes in income, population, or preferences
- Normal and inferior goods | Supply, demand, and market equilibrium
- Inferior goods clarificationx
- Law of supply | Supply, demand, and market equilibrium
- Factors affecting supply | Supply, demand, and market equilibrium
- Market equilibrium | Supply, demand, and market equilibrium
- Changes in Market Equilibrium
- Price elasticity of demand | Elasticity
- More on elasticity of demand | Elasticity
- Perfect inelasticity and perfect elasticity of demand
- Constant unit elasticity | Elasticity
- Total revenue and elasticity | Elasticity
- More on total revenue and elasticity | Elasticity
- Cross elasticity of demand | Elasticity
- Elasticity of supply | Elasticity
- Elasticity and strange percent changes | Elasticity
- Demand Curve as Marginal Benefit Curve
- Consumer surplus introduction | Consumer and producer surplus
- Total consumer surplus as area
- Producer surplus | Consumer and producer surplus
- Rent Control and Deadweight Loss
- Minimum wage and price floors
- Taxation and dead weight loss
- Percentage tax on hamburgers
- Taxes and perfectly inelastic demand
- Taxes and perfectly elastic demand
- Marginal Utility
- Equalizing Marginal Utility per Dollar Spent
- Deriving demand curve from tweaking marginal utility per dollar
- Budget Line
- Optimal point on budget line
- Types of indifference curves
- Economic profit vs accounting profit
- Depreciation and opportunity cost of capital
- Fixed, Variable, and Marginal Cost.
- Visualizing average costs and marginal costs as slope
- Marginal cost and average total cost
- Marginal revenue and marginal cost
- Marginal revenue below average total cost
- Long term supply curve and economic profit
- Perfect competition | Forms of competition
- Monopoly basics | Forms of competition
- Monopolist optimizing price: Total revenue.
- Monopolist optimizing price: Marginal revenue
- Monopolist optimizing price: Dead weight loss
- Optional calculus proof to show that MR has twice slope of demand
- Review of Revenue and Cost Graphs for a Monopoly
- Oligopolies and monopolistic competition | Forms of competition
- Monopolistic competition and economic profit
- Oligopolies, duopolies, collusion, and cartels
- Prisoners' dilemma and Nash equilibrium
- More on Nash equilibrium | Game theory and Nash equilibrium
- Why parties to cartels cheat | Game theory and Nash equilibrium
- Game theory of cheating firms | Game theory and Nash equilibrium
- Negative externalities | Consumer and producer surplus
- Taxes for factoring in negative externalities
- Positive externalities | Consumer and producer surplus
- Tragedy of the commons | Consumer and producer surplus
- First degree price discrimination
- A firm's marginal product revenue curve
- How many people to hire given the MPR curve
- Adding demand curves | Production decisions and economic profit
- Circular flow of income and expenditures
- Parsing gross domestic product | GDP: Measuring national income
- More on final and intermediate GDP contributions
- Investment and consumption | GDP: Measuring national income
- Income and expenditure views of GDP | GDP: Measuring national income
- Components of GDP | GDP: Measuring national income
- Examples of accounting for GDP | GDP: Measuring national income
- Real GDP and nominal GDP | GDP: Measuring national income
- GDP deflator | GDP: Measuring national income
- Example Calculating Real GDP with a Deflator
- Introduction to inflation | Inflation - measuring the cost of living
- Actual CPI-U Basket of Goods
- Phillips curve | Inflation - measuring the cost of living
- Interest as rent for money | The monetary system
- Money supply and demand impacting interest rates
- The business cycle | Aggregate demand and aggregate supply
- Aggregate demand | Aggregate demand and aggregate supply
- Shifts in aggregate demand | Aggregate demand and aggregate supply
- Long-run aggregate supply | Aggregate demand and aggregate supply
- Short run aggregate supply | Aggregate demand and aggregate supply
- Demand-pull inflation under Johnson
- Real GDP driving price | Aggregate demand and aggregate supply
- Cost-push inflation | Aggregate demand and aggregate supply
- Monetary and fiscal policy | Aggregate demand and aggregate supply
- Tax lever of fiscal policy | Aggregate demand and aggregate supply
- Breakdown of gas prices | Supply, demand, and market equilibrium
- Short-run oil prices | Supply, demand, and market equilibrium
- Keynesian economics | Aggregate demand and aggregate supply
- Risks of Keynesian thinking | Aggregate demand and aggregate supply
- Overview of fractional reserve banking | The monetary system
- Weaknesses of fractional reserve lending | The monetary system
- Full reserve banking | The monetary system
- Money supply: M0, M1, and M2 | The monetary system
- Simple fractional reserve accounting (part 2) | The monetary system
- MPC and multiplier
- Mathy version of MPC and multiplier (optional)
- Consumption function basics
- Generalized linear consumption function
- Consumption function with income dependent taxes
- Keynesian Cross
- Details on shifting aggregate planned expenditures
- Keynesian cross and the multiplier
- Investment and real interest rates
- Connecting the keynesian cross to the IS curve
- Loanable funds interpretation of IS curve
- Polyalphabetic Cipher
- LM part of the IS-LM model
- Government spending and the IS-LM model
- Balance of payments: Current account | Foreign exchange and trade
- Balance of payments: Capital account | Foreign exchange and trade
- Why Current and Capital Accounts Net Out
- Accumulating foreign currency reserves | Foreign exchange and trade
- Using reserves to stabilize currency | Foreign exchange and trade
- Financial crisis in Thailand caused by speculative attack
- Math mechanics of Thai banking crisis | Foreign exchange and trade
- Greek Debt Recession and Austerity (part 1)
- Greek Financial Crisis (part 2)
- How and why Greece would leave the Euro (part 3)
- Why Europe is worried about Greece
- Three pointer vs free throwing probability | Probability and Statistics
Course Description
This course includes topics in microeconomics and macroeconomics covered in a traditional college level introductory economics course
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