Economics

In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started!

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Culpzilla's students are amazing! You guys rock!

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DFTBA and keep being the exception like the Mongols.

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Economics 101 -- How the Economic Machine Works.

Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, How does the economy really work? Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.


To learn more about Economic Principles visit:


[Also Available In Chinese] 经济这台机器是怎样运行的:

[Also Available In Russian] Как действует экономическая машина. Автор: Рэй Далио (на русском языке):

We talk a lot about Keynesian economics on this show, pretty much because the real world currently runs on Keynesian principles. That said, there are some other economic ideas out there, and today we're going to talk about a few of them. So, if you've been aching to hear about socialism, communism, the Chicago School, or the Austrian School, this episode is for you.

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Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson
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In today’s modern society, money has become the main objective and the ulterior motive to basically everything. People are willing to waste their lives away doing something that they hate day in and day out, just for the sake of making money. Of course bills need to be paid and food needs to be bought, but the average individual is so consumed with thoughts and worries about money and all that it symbolizes, that it is literally making people sick and ruining relationships.

What’s interesting to note is that originally money was meant to flow through communities for the advantage of all who lived there; it was certainly not meant to be hoarded and esteemed above everything else. This habit in which everybody benefits when money is made can still be observed in many indigenous societies and rural communities. In fact, never before in history has money taken such center stage as it has in recent years and the more people focus on money, the more society suffers.

Just in the last 25 years there have been 187 financial crises and 96 banking crashes worldwide. The system has proven time and time again to be unstable and somewhat unpredictable. Something is terribly wrong with this design.

Why is health care so expensive? Once again, there are a lot of factors in play. Jacob and Adriene look at the many reasons that health care in the US is so expensive, and what exactly we get for all that money. Spoiler alert: countries that spend less and get better results are not that uncommon.

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Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst College. Now a senior fellow at the Hoover Institution, Sowell has published more than a dozen books, the latest of which is a revised and updated edition of his classic volume, Basic Economics.

Through its various editions, Sowell writes, the fundamental idea behind Basic Economics remains the same: Learning economics should be as uncomplicated as it is informative. Here, Sowell seeks to uncomplicate some of the economic issues confronting the country today, from the financial crisis and the role of the Fed to the economics of health care and trade imbalances.

Why do people buy the stuff they buy? In classical economics, most models assume that consumers behave rationally. As you've probably noticed in your real life, in case after case, people don't actually make rational decisions. There can be emotional or social reasons for all this irrationality, and behavioral economics tries to address this. We'll talk about risk, nudge theory, prices and perception, and the ultimatum game. So, let's get irrational, in a logical way, of course.

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Would you like to play a game, Dr. Falken? Actually, this episode isn't really about games, or Matthew Broderick, or Thermonuclear War. But enough with the long references to 1983's best movie, War Games. Today Jacob and Adriene are going to teach you about Oligopolies, which are kind of like the monopolies that we talked about last week, except with more companies involved. Then we'll get to the games, or rather, the game theory. Which is all about how companies try to compete with each other in the real world.

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The typical first-year student walks into his first economics class with very little idea of what economics is. He might have heard something like, economics is the study of money, or economics is another word for accounting, or economics is hard, don't take that class, but none of those are true.

Economics is the study of the use of scarce resources that have alternative uses. That's the classic definition of economics. Basically, there are people, and people need resources to fulfil their desires. These resources cannot be infinite, but the desires can be, so people need to make choices about how to use their scarce resources. Economists study these choices.

All economic questions fall into one of two categories: positive and normative. Positive economics describes what is and normative economics argues for what ought to be, so a question like, why do people use money? is a positive question and should people use money? is a normative question.

A general rule of thumb is that if your economic model has no value judgements, it's positive economics, and if it does have value judgements it's normative economics, since to tell someone what he ought to do, you first have to judge what is best for him.

Economics is also divided into microeconomics and macroeconomics. Microeconomics studies the behaviour of individual agents and markets, while macroeconomics studies the behaviour of the entire economy.

Economists also have their own branch of statistics called econometrics that's specialized to analyzing economic data. Since economic data usually comes from the real world, and not from controlled experiments, econometrics faces mathematical challenges that other fields might not.

The tools economists have developed to study human behaviour have broad uses outside of what we would traditionally consider economics. Economists study not only markets, but things like crime, war, the family, religion, culture, politics, law, and even genetics. That's why it's not unusual to see papers by psychologists, sociologists, criminologists, political scientists, anthropologists, biologists, neuroscientists, or legal scholars being co-authored by economists.

In which Jacob Clifford and Adriene Hill teach you about Economic Systems and Macroeconomics. So, economics is basically about choices. We'll look at some of the broadest economic choices when we talk about the difference between planned economies and market economies. We'll get into communism, socialism, command economies, and capitalism. We'll look at how countries choose the kind of system they're going to use (spoiler alert: many end up with mixed economies). We'll also look into how individuals make economic choices.

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TO: Everyone
FROM: Martin

To gild refined gold is just silly.


TO: Dana
FROM: Cameron

Still holding out. We're going to make it!

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What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible economic practice in which giant corporations dominate markets and hurt consumers. Except when it isn't. In some industries, monopolies are the most efficient way to do business. Utilities like electricity, water, and broadband internet access are probably less efficiently delivered in competitive markets. Come along, and let us monopolize your attention for a few minutes. You might learn something. And you might land on Free Parking.


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Introduction to Economics

Basic introduction to what microeconomics and macroeconomics study. A bit on Adam Smith
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Ever shaken an invisible hand? Been flattened by a falling market? Or wondered what took the bend out of Phillips' curve? David Mitchell helps reveal some of the great dilemmas faced by governments trying to run an economy - whether to save or spend, control inflation, regulate trade, fix exchange rates, or just leave everyone to get on with it and not intervene. You'll learn why Adam Smith put such a high price on free markets, how Keynes found a bold new way to reduce unemployment, and what economists went on to discover about the impact of policy on people's and businesses' behaviour - which may not always be entirely rational.

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The Research:

This Research Animate pulls together some of the key sexual economics arguments made by social scientists, including Roy Baumeister, Kathleen Vohs, Timothy Reichert, Mark Regnerus, and George Akerlof.

Essential to the mission of the Austin Institute is the dissemination of both thought-provoking and rigorous academic research on family, sexuality, social structures and human relationships. In order to engage a wider audience, we are developing select research projects into a medium amenable to our digital age.

How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it.

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How does education work? Where does the money come from? Who pays for it? Is going to college a good investment? Adriene and Jacob are talking today about the economics of education. Most countries require that their citizens get some education, and most countries pay for basic education, but the quality of education can vary widely. And in the US, post-secondary education can come with a lot of costs.

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Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks

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This week on Crash Course Econ, Jacob and Adriene are talking about failure. Specifically, we're talking about market failures. When markets don't provide a good or service efficiently, that's a market failure. When markets fail, often governments step in to provide those services. Stuff like public education or military protection are good examples of market failures. So, what are some of the ways governments address, market failures? Well, it's funny you should ask, as we also talk about that in this episode. We'll get into taxes and subsidies and externalities and a bunch of other important stuff this week on Crash Course Econ.

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Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks

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This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics, and the major movers in the economy. Like taxes and monetary policy and inflation and policy. We need this stuff, because if you don't have a big picture of the economy, crashes and panics are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment, unemployment

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In which Adriene Hill and Jacob Clifford teach you about one of the fundamental economic ideas, supply and demand. What is supply and demand? Well, you’ll have to watch the video to really understand it, but it’s kind of important for everything economically. Supply and demand sets prices, and indicates to manufacturers how much to produce. Also, it has a lot to do with strawberries.

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Professor Amos Witztum provides an introduction to economics at the LSE Kick Off Day for students studying by distance learning through the University of London International Programmes in September 2011.

To find out about gaining a University of London qualification with academic direction by LSE through distance learning visit:

What can you do with a Economics degree? Are there jobs in Economics? What's the difference between business economics & economics? What are jobs in Economics?

Music
Artist: Jacoo
Track: Watching You Breathe



EngineeredTruth.com

This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life.

As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September.

Litan currently is a non-resident senior fellow at Brookings; counsel to Korein Tillery, a law firm based in St. Louis and Chicago specializing in large case litigation; chief economist at Main Street Genome, a D.C.-based startup providing financial analytics to small businesses; and a regular contributor to the Think Tank blog published by The Wall Street Journal.

About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

What is a trade deficit? Well, it all has to do with imports and exports and, well, trade. This week Jacob and Adriene walk you through the basics of imports, exports, and exchange. So, you remember the specialization and trade thing, right? So, that leads to imports and exports. Economically, in the aggregate, this is usually a good thing. Globalization and free trade do tend to increase overall wealth. But not everybody wins.

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Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks

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Inequality is a big, big subject. There's racial inequality, gender inequality, and lots and lots of other kinds of inequality. This is Econ, so we're going to talk about wealth inequality and income inequality. There's no question that economic inequality is real. But there is disagreement as to whether income inequality is a problem, and what can or should be done about it.

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Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks

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So, if economics is about choices and how we use our resources, econ probably has a lot to say about the environment, right? Right! In simple terms, pollution is just a market failure. The market is producing more pollution than society wants. This week, Adriene and Jacob focus on the environment, and how economics can be used to control and reduce pollution and emissions. You'll learn about supply and demand, incentives, and how government intervention influences the environment.

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Today on Crash Course Economics, Adriene and Jacob talk about the 2008 financial crisis and the US Goverment's response to the troubles. So, all this starts with home mortgages, and the use of mortgages as an investment instrument. For years, it seemed like the US housing market would go up and up. Like a bubble or something. It turns out it was a bubble. But not the good kind. And the government response was...interesting. Anyway, why are you reading this? Watch the video!

More Financial Crisis Resources:

Financial Crisis Inquiry Report:

TAL: Giant Pool of Money:

Timeline of the crisis:



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Adriene and Jacob teach you all about markets. So, in free market(ish) economies like the United States and most of the world, markets are a big deal. Markets work to produce the stuff that consumers want, and that society needs. Today we'll talk about productive and allocative efficiency, skinny jeans, price signals, and more in this information-dense installment of Crash Course.

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Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks

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Introduction to Economics

Reserve Bank of India Governor Raghuram Rajan on Friday said dosa economics shows how inflation can be a silent killer.
Dr Rajan used the example of a pensioner buying a dosa to explain how he can have more dosas today despite earning lower interest on his savings in bank deposits, as long as inflation stays low.

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Piketty, arguably the world’s leading expert on income and wealth inequality, does more than document the growing concentration of income in the hands of a small economic elite. He also makes a powerful case that we’re on the way back to ‘patrimonial capitalism,’ in which the commanding heights of the economy are dominated not just by wealth, but also by inherited wealth, in which birth matters more than effort and talent,” wrote Paul Krugman in The New York Times. Krugman and his fellow Nobel laureate Joseph Stiglitz (author of The Great Divide) join Piketty to discuss the genius of economics.

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In this episode of Days of Revolt, Chris Hedges continues his discussion with UMKC economics professor Michael Hudson on his new book Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy. Hedges and Hudson expose the liberal class’ allegiance to the predatory creditors on Wall Street and their indifference to real economic justice.

In which Adriene and Jacob teach you about how and why prices rise. Sometimes prices rise as a result of inflation, which is a pretty normal thing for economies to do. We'll talk about how across the board prices rise over time, and how economists track inflation. Bubbles are a pretty normal thing for humans to do. One item, like tulips or beanie babies or houses or tech startups experience a rapid rise in prices. This is often accompanied by speculation, a bunch of outrageous profits, and then a nasty crash when the bubble bursts. People get excited about rising prices, and next thing you know, people are trading their life savings for a tulip bulb.

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Mark , Elliot Beter, Moritz Schmidt, Jeffrey Thompson, Ian Dundore, Jacob Ash, Jessica Wode, Today I Found Out, Christy Huddleston, James Craver, Chris Peters, SR Foxley, Steve Marshall, Simun Niclasen, Eric Kitchen, Robert Kunz, Avi Yashchin, Jason A Saslow, Jan Schmid, Daniel Baulig, Christian , Anna-Ester Volozh

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How do companies make money? What are profits? Revenues? How are prices set? This week, Jacob and Adriene are talking business. Whether you're selling cars, pizza, or glow sticks, this video has pretty much all the information you need to run a business. Well, not really, but there's a lot of good stuff in here.

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So, during times of inflation or deflation, why doesn't the government just set prices? It sounds reasonable, but price ceilings or floors just don't work. Adriene and Jacob explain why. Subsidies, however, are a little different, and sometimes they even work. We'll also explain that. Today you'll learn about stuff like price controls, deadweight loss, subsidies, and efficiency.

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Hello Students
Hope you enjoyed our demo lecture , you can also buy our course on Current World Economics and Politics


List of the topics in our Current Affairs Course (only Rs.2999)

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What a Bernie Sanders voter hears when you talk about economics.

Trump 2016 2bh fam

Socialist isn't an economics major and doesn't understand the Federal Reserve. Go Figure.

What is globalization? Is globalization a good thing or not. Well, I have an answer that may not surprise you: It's complicated. This week, Jacob and Adriene will argue that globalization is, in aggregate, good. Free trade and globalization tend to provide an overall benefit, and raises average incomes across the globe. The downside is that it isn't good for every individual in the system. In some countries, manufacturing jobs move to places where labor costs are lower. And some countries that receive the influx of jobs aren't prepared to deal with it, from a regulatory standpoint. Anyway, Jacob and Adriene can explain the whole thing to you in 10 minutes.

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Video 1/50 for AS-Level Economics - or IB Economics - or a general introduction to Economics. This video covers the basic economic problem of scarce resources and the concept of positive and normative statements.

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In which Jacob and Adriene teach you about the evils of fiscal policy and stimulus. Well, maybe the policies aren't evil, but there is an evil lair involved. In this episode we learn how government use taxes and spending influence the economy. Sometimes the government gives, and sometimes it takes. And the giving and the taking can have a profound effect on how economies behave.

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Mark , Elliot Beter, Moritz Schmidt, Jeffrey Thompson, Ian Dundore, Jacob Ash, Jessica Wode, Today I Found Out, Christy Huddleston, James Craver, Chris Peters, SR Foxley, Steve Marshall, Simun Niclasen, Eric Kitchen, Robert Kunz, Avi Yashchin, Jason A Saslow, Jan Schmid, Daniel Baulig, Christian , Anna-Ester Volozh

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Contrasting Keynesian and Classical Thinking
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In which Adriene Hill and Jacob Clifford teach you about specialization and trade, and how countries decide whether they're going to make stuff or trade for stuff. You'll learn about things like comparative advantage, the production possibilities frontier and how to make pizza!

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Making our own history awesome! Happy 3 year Anniversary!

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The earth is but one country, and mankind its citizens.

Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever:

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This tutorial deals with basic introduction to economics, how to study, what to study, which sources and material to refer to, what to avoid and other necessary information. Do watch it before reading anything on economics.

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Video by Unacademy for IAS Preparation. How to prepare for IAS exam, Best IAS Coaching, IAS Civil Services Syllabus, Study Material for IAS Exam, IAS Civil Services Exam, UPSC Preparation, Tips for IAS, Material for IAS Preparation, UPSC Exam Material, IAS How to prepare, Other good resources: Mrunal.org, IAS preparation tips, How to prepare for IAS 2015, Roman Saini Video For more educational lessons by top educators visit

In this video I explain Keynesian economics, the idea of the multiplier effect, the broken window fallacy, and the tradeoffs of government spending to get out of a recession. Be sure to leave a comment and tell me what you think of John Maynard Keynes. Thanks for watching. Please subscribe!

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And, yes, I know there are a few misspelled words. I always try to throw a few of them in there to keep you on your teos

A short and sweet two question request. What does Cappy think of supply side economics and will Trump's protectionist measures help the US? Cappy answers.

Why are some countries rich? Why are some countries poor? In the end it comes down to Productivity. This week on Crash Course Econ, Adriene and Jacob investigate just why some economies are more productive than others, and what happens when an economy is mor productive. We'll look at how things like per capita GDP translate to the lifestyle of normal people. And, there's a mystery.

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Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters

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SEE THE EVIDENCE FROM THE BOOKS!
When the book icons appear at the bottom, hover your mouse over the book to see the quotes. You may want to pause the video so you have time to read.

Season 5 of Game of Thrones premieres on Sunday, April 12 at 9PM ET on HBO. To get you ready for the big event, we put together an economic update of the Seven Kingdoms through season 4 of the HBO show. The analysis is based on information from the TV show and the books.

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In this episode of teleSUR's Days of Revolt, Chris Hedges interviews economist Michael Hudson on the history of classical economics and explores Marx’s interpretation of capitalism as exploitation

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