Master IB Economics Unit 3: Macroeconomics | Full Course HL/SL - IB Economics 3.2.2: Short-Run Aggregate Supply (SRAS)

How do production costs impact the whole economy? In this IB DP Economics Unit 3.2.2 lesson, we explore Short-run Aggregate Supply (SRAS). We break down why the SRAS curve is upward sloping, the key determinants that cause it to shift—including Factor Costs and Indirect Taxes—and how to find the Short-run Macroeconomic Equilibrium. 00:00 - Introduction to short-run aggregate supply in Macroeconomics 00:38 - Explain the short run aggregate supply (SRAS) curve 03:35 - Explain shifts of the SRAS curve by reference to changes in the determinants 05:48 - Explain macroeconomic equilibrium in the short run 07:20 - Draw a diagram illustrating short-run equilibrium and changes in short-run equilibrium 🚀 Next Lesson (Unit 3.2.3 Long-run AS in the New Classical Model): https://youtu.be/k85OSDV2jJM 📚 Full IB Economics Unit 3 Macroeconomics Playlist: https://youtube.com/playlist?list=PLxXPxL_gb833D4_FcNNchsa1m2pvhcB6k&si=XgzKXbI7nPqXFftG 🔔 Subscribe to Kevin Means Business for clear, examiner-friendly IB Economics content! https://www.youtube.com/@UC1gecbqI0JTEUB6HpC60blw #ibeconomics #macroeconomics #supply #shortrun #economicsrevision #kevinmeansbusiness #macro #selfstudy #economics #ib #educationalvideo