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Microeconomics Lessons With Transcripts
Inflation and CPI Practice- Macro 2.4
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...
Macro Unit 2: Economic Indicators and the Business CycleOffice Hours: Game Theory
This video uses game theory to solve a simple problem. Bob and Al are magicians. They’ve agreed to only perform one show per week and each earn $10,00...
Principles of Economics: MicroeconomicsConsumer Optimization
We live in a world of scarcity. In other words, what we want outweighs what we can attain. Why? Well, we have limited resources – money, options, time...
Principles of Economics: MicroeconomicsIndifference Curves
Think about what restricts your choices when it comes to buying goods and services. Your income is one variable. Prices are another. What about what y...
Principles of Economics: MicroeconomicsBudget Constraints
Think through all of the variables that determine the price of a cup of coffee. It might help to imagine the coffee beans on the farm first. Consider...
Principles of Economics: MicroeconomicsIntroduction to Consumer Choice
Everyday, you make tons of decisions about consumption. Your choices about what and how much of a good to buy are influenced by the laws of supply and...
Principles of Economics: MicroeconomicsSignaling
A signal is an action that reveals information. Let’s look at higher education, for example. A large fraction of the value you receive from your degre...
Principles of Economics: MicroeconomicsSolutions to Moral Hazard
What are some solutions to moral hazard? We could try to make information less asymmetric — meaning both parties have similar information, making it h...
Principles of Economics: MicroeconomicsMoral Hazard
Imagine you take your car in to the shop for routine service and the mechanic says you need a number of repairs. Do you really need them? The mechanic...
Principles of Economics: MicroeconomicsAsymmetric Information and Health Insurance
In this video, we discuss asymmetric information, adverse selection, and propitious selection in relation to the market for health insurance. Health i...
Principles of Economics: MicroeconomicsAsymmetric Information and Used Cars
George Akerlof, a Nobel Prize-winning economist, analyzed the theory of adverse selection – which occurs when an offer conveys negative information ab...
Principles of Economics: MicroeconomicsThe Tragedy of the Commons
How common resources, like fisheries and forests, suffer from the tragedy of the commons, and economic solutions including property rights, tradable q...
Principles of Economics: MicroeconomicsMicroeconomics Key Concepts
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