Curated Video
Marginal Analysis, Roller Coasters, Elasticity, and Van Gogh: Crash Course Econ
This week Jacob and Adriene teach you about marginal analysis, which you're using RIGHT NOW! The video is coming from inside the house! Or something. You'll learn how marginal analysis guides the decision making if cities, nations,...
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...
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...
Curated Video
Evaluating Market Outcomes in Monopolistic Competition
This video discusses the efficiency outcomes and market structure of monopolistic competition. The speaker evaluates the market outcomes and efficiency of the structure by looking at productive and allocative efficiency. The short and...
Curated Video
Assessing Perfect Competition Market Structure and Efficiency
This video is a lesson on the market structure of perfect competition. The instructor explains the characteristics, efficiency results, and limitations of perfect competition. The instructor also discusses how firms may not invest much...
Curated Video
Consumer Behaviour: Rational Decision Making and Utility Theory
This video discusses the topic of consumer behavior, starting with the concept of utility and how it relates to overall satisfaction or well-being. The video then explores rational decision making and how economic agents respond to...
ACDC Leadership
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.
Professor Dave Explains
Scarcity, Trade-offs, and Cost/Benefit Analysis
A core concept we must discuss if we are to understand economics is scarcity. Our wants and needs are endless, but the things we want and need are necessarily finite in nature. Therefore, we can say that these things are scarce. They run...
ACDC Leadership
EconMovies 2: Monty Python and the Holy Grail (Marginal Analysis)
Who knew that so many of the hilarious moments from Monty Python and the Holy Grail would be perfect for illustrating one of the most important concepts in economics: marginal analysis. In the second video of this fantastic series, your...
Khan Academy
Khan Academy: Consumer and Producer Surplus: Consumer Surplus Introduction
A video lecture explaining consumer surplus as difference between marginal benefit and price paid. [5:10]
Khan Academy
Khan Academy: A Firm's Marginal Product Revenue Curve
Thinking about how much incremental benefit a firm gets from hiring one more person.
Khan Academy
Khan Academy: Public Goods and Externalities: Positive Externalities
Factoring in external benefits. [7:26]
Khan Academy
Khan Academy: Equilibrium, Allocative Efficiency and Total Surplus
Total surplus is maximized in a market at equilibrium. In this video, we talk about why this is and the math behind this assertion. [11:29]
Khan Academy
Khan Academy: Consumer Surplus Introduction
In this video, we introduce the concept of consumer surplus as the difference between marginal benefit and price paid. [5:01]