Curated Video
Long-Run Costs and Returns to Scale in Economics
This video discusses the topic of long-run costs in economics, specifically related to the concept of returns to scale. The video explains the difference between short-run and long-run factors of production and how this affects a firm's...
Curated Video
The Tragedy of the Commons and Property Rights
The video discusses the concept of the tragedy of the Commons and its relevance in modern-day environmental issues. It explains why the absence of property rights can lead to market failure, using the example of common land in the UK and...
Curated Video
Environmental Functions and Models in Economics
This video discusses the environmental functions and models used in economics to evaluate the effects of economic activity and growth on the environment. The three main functions of the environment are explained as a provider of...
ACDC Leadership
Microeconomics- Everything You Need to Know
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...
Curated Video
Understanding X-Inefficiency in Different Market Structures
The video lecture discusses X-Inefficiency. The video explains that X-Inefficiency can lead to rising costs, poor decision-making, and reduced productivity, and identifies issues such as patents, lack of incentive to innovate, and...
Curated Video
Understanding Price Elasticity of Supply and Characteristics of Supply Curves
In this video, the presenter introduces the concept of price elasticity of supply and explains how it measures the responsiveness of supply to changes in price. Different types of elasticity of supply are discussed, such as elastic,...
Curated Video
Calculating Price Elasticity of Demand: A Step-by-Step Guide
This video is a tutorial on how to calculate the price elasticity of demand for a good. The speaker explains the process step by step, starting with calculating the changes in quantity demanded and price, then using those numbers to...
Curated Video
Understanding Economies of Scale
The video explains the concept of economies of scale in microeconomics. It describes how businesses can increase their production scale and reduce their unit costs over time by becoming more experienced in producing goods and services,...
Curated Video
Revenue and its Forms: Marginal, Average, and Total Revenue in Economics
The video explains the topic of revenue in economics and specifically focuses on three forms of revenue: marginal revenue, average revenue, and total revenue. The video provides a definition of revenue and demonstrates how to calculate...
Curated Video
Introduction to Productivity and its Effects on PPF Diagrams
The video is an educational resource that introduces the concept of productivity and its importance in economics. The presenter explains how productivity is the output per unit of input and how it can vary depending on factors such as...
ACDC Leadership
Micro 5.3 Comparing Product and Resource Markets: Econ Concepts in 60 Seconds- Review
Mr. Clifford's 60 second explanation of the differences between a perfectly competitive product market and a perfectly competitive resource market. Notice that the firms both have a horizontal curve but in the product market it is demand...
ACDC Leadership
5.2 Perfectly Competitive Labor Market and Firm: Econ Concepts in 60 Seconds- Advanced Placement
Mr. Clifford's 60 second explanation of how to draw a perfectly competitive labor market and firm hiring workers. Notice that the perfectly elastic (horizontal) curve is now supply.
Curated Video
Market Competition: Understanding Perfect Competition and Monopoly
This video discusses the concept of market competition and how it affects outcomes like prices, efficiency, and outputs. The video then introduces two important forms of market competition: perfect competition and monopoly. The speaker...
Curated Video
Allocative Efficiency: Definition, Importance, and Market Structures
The video is a lecture on allocative efficiency, which discusses the optimal allocation of resources to produce goods that consumers actually want. The lecturer explains allocative efficiency in detail, including how it's different from...
Curated Video
Example Elasticity Problems and How to Solve Them Using Elasticity Triangles
The video is a tutorial on solving elasticity problems using elasticity triangles. It covers examples of price elasticity of demand, cross elasticity of demand, and income elasticity of demand, with step-by-step explanations of how to...
Curated Video
Understanding the Pros and Cons of Globalization
This video provides an overview of globalization, discussing how it has led to the integration and alignment of the world's economies, generating mutual beneficial outcomes in terms of trading benefits. The video also highlights the main...
Curated Video
Determinants of Price Elasticity of Supply
This video provides an explanation of the determinants of price elasticity of supply. The presenter first defines price elasticity of supply and explains the difference between elastic and inelastic goods. Then, the video discusses four...
Institute for New Economic Thinking
Erik Berglof: Building a Bridge Between Political And Economic Reform
Since it's release in late 2013, the European Bank for Reconstruction and Development's Transition Report "Stuck In Transition" has generated a lot of attention for its compelling and provocative conclusions about the intersection...
Institute for New Economic Thinking
Membership Theory of Inequality
Professor Steven Durlauf discusses a transition from the conventional policy of “redistributing income” to “redistributing membership”, thus promoting economic integration across communities and intergenerational mobility. Integrating...
ACDC Leadership
The Push-Up Machine - Labor Market Activity
This is a great activity to simulate the labor market and show how a business decides how many workers to hire. Watch the video and see if you can figure out the following: 1. How many workers should be hired to maximize profit? 2. What...
Curated Video
Understanding the Phillips Curve and its Role in Economic Management
The video explains the concept of the Phillips Curve and its relationship to managing economies from a demand side perspective. The video explains the history of the Phillips Curve, which was established in 1958 by AW Phillips, and how...
Curated Video
Introduction to Collusion in Oligopoly Markets
This is a lecture video discussing collusion in markets, particularly in oligopoly markets. The speaker introduces the concept of collusion and explains why and how it prevails in certain markets. The video provides examples and explains...
Curated Video
Diagrammatic Analysis of Monopoly Market Structure
This video explains the concept of monopoly market structure, its diagrammatic analysis, and the behavior of monopolists. The video covers topics such as the downward-sloping demand curve, the profit-maximizing output, the price, and the...
ACDC Leadership
Micro 6.4 Positive Externalities- ACDC Econ
Mr. Clifford's 60 second explanation of positive externalities (aka: spillover benefits). Notice that there are two different demand curves. One is the marginal private benefit which ignores the spillover benefits of flu shots and the...