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Micro 2.10 Total Revenue Test and Elasticity Review: Econ Concepts in 60 Seconds
Mr. Clifford's 60 second explanation of the total revenue tests. It shows what happens to total revenue when price changes for products with inelastic or elastic demand.
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Classical and Keynesian Aggregate Supply- Macroeconomics
In this video I explain the three stages of the short run aggregate supply curve: Keynesian, Intermediate, and Classical.
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Diminishing Returns and the Production Function- Micro Topic 3.1
I explain the idea of fixed resources and the law of diminishing marginal returns. I also discuss how to calculate marginal product and identify the three stages of returs: increasing, decreasing, and negative returns
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Externalities- EconMovies #7: Anchorman
Hey econ students. This is Jacob Clifford. In this episode of EconMovies, I use Anchorman to explain marginal benefit, marginal cost, efficiency, and externalities.
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Micro 2012 FRQ #3- Trade and Tariffs
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
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Quantity Theory of Money - Macro 2.5
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your macroeconomics course.
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Cool Economics Examples-Externalities
In economics, the way you introduce a concept will make or break a lesson. I try to avoid using the boring examples is the textbook. Here is a quick example of how I introduce the concept of externalities using AXE body spray.
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Monopoly Graph Review and Practice- Micro Topic 4.2
In this video I explain how to draw and anaylze a monopoly graph. Make sure to answer the questions and check out the bonus dance at the end. No! We can't play the board game.Thanks for watching
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The Money Multiplier and Reserve Requirement
In this video I explain the reserve requirement, the money multiplier, and how money is created. Try it on your own. Good luck!
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The Loanable Funds Market and Crowding Out- Macro Topic 4.7
Ok. In this one I draw and explain the graph for loanable funds and crowding out.
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Micro Unit 2, Question 11- Cross-Price Elasticity of Demand
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
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Micro Unit 6, Question 7- Negative Externality
Learn about the concept of negative externalities and how they lead to market failure. Using a graph, the teacher demonstrates the difference between the socially optimal quantity and the quantity produced in a free market. They also...
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Inflation and CPI Practice- Macro 2.8
Hey econ students! Thank you for watching my videos. I really appreciate it. In this video I quickly go over the difference between the inflation rate and the Consumer Price Index (CPI) and then give you several practice problems. Be...
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Economics Music Videos- Econ World (featuring the Little Mermaid)
This music video was written and created by Mr. Clifford. The singing was done by the very talented Gabi Cavassa from the class of 2012. It covers many of the key graphs of microeconomics. Don't forget to watch the very end. Enjoy!
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Marginal Analysis and Consumer Choice- Micro Topic 1.6
Hey students. This video is designed to help you calculate and apply marginal utility and marginal utility per dollar. Many teachers and professors ask questions that require you to determine the utility maximizing combination with two...
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Economies of Scale and Long-Run Costs- Micro Topic 3.3
In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the...
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Micro Unit 1, Question 10- Comparative Advantage
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
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Monopolistic Competition- Short Run and Long Run- Micro 4.4
In this video I explain how to draw a firm in monopolistic competition. Notice, the firm will make zero economic profit in the long run since there are low barriers to entry. Make sure you know how the graph changes from the short run to...
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Monopolistic Competition in the Long-Run: Econ Concepts in 60 Seconds
Mr. Clifford's 60 second explanation of how to draw monopolisticly competitive firm in long run equilibrium. Remember that ATC must hit the demand curve at the "sweet spot". In the bonus round learn why the firm is not efficient and...
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Micro Unit 6 Intro- Market Failures and the Government
A quick overview of what you will cover in the sixth unit of Microeconomics. Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.
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The Foreign Exchange Market- Macro 6.3
In this video I explain the market for foreign exchange and national currencies.
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Comparative Advantage Explained
Individuals and countries benefit from trade. Even though it isn't very realistic, simplified examples like this will help you understand the idea of comparative advantage. Make sure that you can calculate the per unit opportunity cost...
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Price Discrimination- Micro Topic 4.3
In this video I explain how to draw a monopoly with first degree price discrimination. Try pausing the video to see if you can show price, consumer surplus, and profit on the graph. Please keep in mind that these clips are not designed...