Curated Video
Understanding Elasticity: The Difference between Elastic and Inelastic Demand
This video lecture explains the concept of elasticity and focuses on the difference between elastic and inelastic demand. The lecture also covers the basic formula for price elasticity of demand (PD) and how to interpret PD values,...
Curated Video
Evaluating the Impact of Trade on the Macroeconomy
This video focuses on evaluating the macroeconomic concept of trade. The video explains how changes in the AD and SRAS curves affect the current account, balance of payments, and net exports. The impact of a positive AD curve shift on...
Curated Video
Understanding Price Discrimination and Its Effects on Markets and Consumers
The video discusses the concept of price discrimination and how it is used by firms to charge different prices to different segments of the market. It provides examples of price discrimination, such as different ticket prices for adults...
Curated Video
Aggregate Demand and Aggregate Supply Analysis: Exploring the Keynesian AS Curve
This is a lecture on aggregate demand and aggregate supply analysis, focusing on the Keynesian AS curve. The speaker provides examples of different impacts on the economy depending on which part of the AS curve is relevant at any given...
Curated Video
The Future Of Work: Will Machines Take My Job?
Do you sometimes wonder about the future of your Job? The MIT economist David Autor defined 3 questions you should ask to see if a job has a future: 1. Can my job be replaced by machines? 2. Can my job be done by others? 3. Is the demand...
Curated Video
Understanding Purchasing Power Parity Theory in International Trade
In this video, the concept of purchasing power parity is explained. The presenter discusses how exchange rates change over time to reflect price changes and how this theory helps reduce the impact of price differentials on trade levels...
Jacob Clifford
Elasticity of Demand Coefficients (Cross-Price and Income Elasticity)
What is the difference between elastic and inelastic demands? Review these concepts, as well as cross prices, elasticity of supply, and income elasticity, with your class members after taking a look at this video.
Crash Course
Marginal Analysis, Roller Coasters, Elasticity, and Van Gogh
Businesses really do care about your happiness and satisfaction—as long it's higher than their marginal cost. Discover how relative scarcity, marginal utility, and the subjective tastes of consumers determine the price a business...