This video introduces game theory and goes through an example of the prisoners' dilemma. It discusses the concept of Nash equilibrium and introduces the idea of a repeated game. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video goes through a second game theory example. Unlike the prisoners' dilemma, this example shows a case where there are no dominant strategies and where there are multiple Nash equilibria. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces the concept of elasticity and shows how elasticity is computed using price elasticity of demand as a representative example. First in a four-part series. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces and describes features of the demand curve For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video explains who I am and gives an overview of my Microeconomics 101 course project. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com Also, see my YouTube channel at www.youtube.com by Economists Do It With Models
This video outlines the features of a perfectly competitive market. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com
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This video describes the different determinants of demand- price, income, prices of related goods, tastes, expectations and number of buyers. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video is part 1 in a 3 part series on revenue, costs and profit. This video introduces various measures of revenue. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video shows how to maximize profit, and it derives the condition under which profit is maximized. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video explains the different ways that economists categorize unemployment. For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com For t-shirts and other merch, see www.economistsdoitwithmodels.com By Economists Do It With Models www.economistsdoitwithmodels.com Facebook www.facebook.com Twitter: www.twitter.com
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This video explains how firms in competitive markets maximize profit and outlines how to show that profit graphically. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com
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This video gives an example of the production possibilities frontier and talks about the general properties of the model. For more on how to construct a complete PPF, see "Constructing the Production Possibilities Frontier." For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video is part 1 in a 2 part series on price ceilings. This video introduces the concept of price controls in general and begins the analysis of a binding price ceiling. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video goes through the solution to a viewer-submitted practice problem. The problem goes as follows: I've been given the equation for the quantity demanded and the quantity supplied. The simplified versions look like this: Qd = 400 - 4p Qs = -200 + 6p The Equilibrium Price is 60 and the Quantity demanded is 160. In order to get the PED, should I replace the "p" in the equation for the quantity demanded for a random number, lets say, 50, and see how much the QD changes? For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video illustrates a popular application of the concept of elasticity, namely the relationship between elasticity of demand and changes in revenue resulting from a price change. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video continues discussion on the concept of elasticity and gives some general rules regarding price elasticity of demand. Second in a four-part series. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video explains the concept of market equilibrium and shows how market forces respond to shortages and surpluses.. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video gives an overview of supply changes, including movements along the supply curve resulting from a change in price as well as shifts of the supply curve. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces the quantity equation and the quantity theory of money, which shows the relationship between changes in the money supply and changes in prices. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces the concept of returns to scale and discusses the distinction between increasing returns to scale, decreasing returns to scale, and constant returns to scale. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video gives an overview of the circular flow of economic markets and discusses the difference between microeconomics and macroeconomics. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com By Economists Do It With Models
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For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com By Economists Do It With Models
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For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com By Economists Do It With Models
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This video introduces the Gini coefficient, which is a way to summarize income inequality using a single number. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces the concepts of opportunity cost, absolute advantage and comparative advantage via an example that asks the question "Should a professor do his own typing?" This is the part 1 in a two-part series. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video continues an example that asks the question "Should a professor do his own typing?" It uses the concepts of comparative advantage and the production possibilites frontier to illustrate the potential gains from trade. This is the part 2 in a two-part series. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video gives an overview of demand changes, including movements along the demand curve resulting from a change in price as well as shifts of the demand curve. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces the Fisher effect, which shows the relationship between changes in inflation and changes in interest rates in response to a change in the money supply. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video explains how economists calculate how much value markets create for society. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video shows how to represent the costs of production graphically and discusses the specific features that different cost curves have. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com By Economists Do It With Models
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This video explains the distinction between positive and normative analysis. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video continues the example given in "Introduction to the Production Possibilities Frontier" and shows how to construct an overall PPF. It also relates the production possibilities model back to the concept of opportunity cost. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video introduces the Economists Do It With Models online course. For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com For t-shirts and other merch, see www.economistsdoitwithmodels.com By Economists Do It With Models
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This video introduces the "Economists Do It With Models" economics 101 online course. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video outlines the difference between Nominal GDP (Gross Domestic Product) and Real GDP and explains how to calculate the levels and growth rates for each. For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com For t-shirts and other merch, see www.economistsdoitwithmodels.com By Economists Do It With Models
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This video explains how to solve for economic equilibrium in a free market both graphically and algebraically. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video continues discussion on the concept of elasticity and compares point elasticity to arc elasticity (midpoint method). Third in a four-part series. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video describes the different determinants of supply- price, input prices, technology, expectations and number of sellers.. It also indroduces the supply curve and discusses its various features. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
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This video is part 1 in a 3 part series on taxes on producers. This video introduces the concept of a per unit tax on producers and shows how to analyze the impact of the tax graphically. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video briefly introduces types of elasticity other than price elasticity of demand (price elasticity of supply, income elasticity of demand, cross-price elasticity) and briefly discusses their features. Fourth in a four-part series. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
An economists' version of Adam Sandler's Hanukkah Song. Special thanks to Seth Gitter for most of the lyrics. (sethgitter.blogspot.com by Economists Do It With Models www.economistsdoitwithmodels.com
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This video introduces the circular-flow model of the economy and discusses some of its notable features. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video introduces the supply and demand model that is the backbone of much of economic analysis. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video gives a brief overview of what exactly economics is (and isn't). For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video goes through a few examples of shifts and other movements of the demand curve. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com by Economists Do It With Models
This video is the first in a four-part series that goes through the first logic game on the June 2007 LSAT. It introduces the game and describes the setup necessary in order to be ready to do the individual questions. You can download the June 2007 LSAT at www.lsac.org and it will be helpful to have a printed copy in order to follow along. This video series was created by Economists Do It With Models, and more information can be found at www.economistsdoitwithmodels.com
This video explains who I am and gives an overview of my Microeconomics 101 course project. For more information and a complete set of microeconomics videos, see www.economistsdoitwithmodels.com Also, see my YouTube channel at www.youtube.com by Economists Do It With Models
