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Free Econ Help
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Добавлен 11 июн 2011
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Learning economics, one step at a time. Each video is embedded at the website, where it shows a description of the material, or a walk through of the solution.
If you have a question about economics, either a general question or related to a problem from class, check my website for the answer or click the "ask a question" link and I will try to get a post up as quickly as possible.
Feel free to leave a question in the comments, I will try to answer it soon!
Learning economics, one step at a time. Each video is embedded at the website, where it shows a description of the material, or a walk through of the solution.
If you have a question about economics, either a general question or related to a problem from class, check my website for the answer or click the "ask a question" link and I will try to get a post up as quickly as possible.
The Difference between Normative and Positive Statements
This video explores the difference between normative and positive statements. More information on this topic can be found at: www.freeeconhelp.com/2018/07/the-difference-between-normative-and-positive-statements.html
The video looks at examples of normative states and examples of positive statements and discusses the main things to look for when trying to tell the difference between the two. The trick to figuring out whether a statement is normative is to ask yourself if it is an opinion or a statement of something that can be tested or not. Generally positive statements have to be true or false and are testable in a reasonably straight forward way.
The video looks at examples of normative states and examples of positive statements and discusses the main things to look for when trying to tell the difference between the two. The trick to figuring out whether a statement is normative is to ask yourself if it is an opinion or a statement of something that can be tested or not. Generally positive statements have to be true or false and are testable in a reasonably straight forward way.
Просмотров: 14 154
Видео
How to sketch a supply curve from a supply function
Просмотров 51 тыс.6 лет назад
This video goes over how to derive a supply curve from a supply function, more information can be found at: www.freeeconhelp.com/2011/07/how-to-construct-supply-curve.html In general you will want to plug in different prices and quantities into the supply function until you have several points that will allow you to sketch the supply curve. If you are having difficulty with the math you can try...
How to sketch a demand curve from a demand function
Просмотров 71 тыс.6 лет назад
This video uses a demand function to create a demand curve. More information can be found at: www.freeeconhelp.com/2011/07/making-demand-curve-understanding-what.html Generally, you can derive a demand curve by plugging in values to the demand function until you have enough points to sketch the curve. However, sometimes it is helpful to use the demand function to calculate a demand schedule bef...
Examples of Public Goods in economics
Просмотров 8 тыс.6 лет назад
This video goes over the definition of public goods specifically the definitions for rivalry and excludability. Then several examples of goods are explored to see if they truly are non-rival and non-excludable to demonstrate whether they are really public goods or not. For information on this topic can be found at: www.freeeconhelp.com/2011/10/examples-of-public-goods-list-of-public.html
The difference between Microeconomics and Macroeconomics
Просмотров 15 тыс.6 лет назад
This post covers the major differences between microeconomics and macroeconomics as well as some tips and tricks to remember the difference. Some basic vocabulary words are also introduced to help understand the difference. More information on this topic can be found at: www.freeeconhelp.com/2011/06/microeconomics-vs-macroeconomics-what.html
Introduction to Economics
Просмотров 2,5 тыс.6 лет назад
This video goes over the basic ideas of economics as well as some defining assumptions. The ideas should be applicable whether you are in a principles of macroeconomics or principles of microeconomics course. The content doesn't go too deep and only covers the basic intuition that is present in most textbooks first chapter. More information can be found at: www.freeeconhelp.com/2011/06/top-10-i...
Welcome to FreeEconHelp.com's Channel
Просмотров 8 тыс.6 лет назад
This video goes over the purpose and organization of the site and offers some tips for how to get the most out of it.
Introduction to Macroeconomics
Просмотров 11 тыс.6 лет назад
This video acts as an introduction to the introduction to macroeconomics playlist. It covers basic ideas and assumptions associated with macroeconomics (also sometimes referred to as principles of macroeconomics). For information can be found at: www.freeeconhelp.com/2011/09/introduction-to-macroeconomics.html
Introduction to Microeconomics
Просмотров 25 тыс.6 лет назад
This video acts as an introduction to the introduction to microeconomics playlist. It covers basic ideas and assumptions associated with microeconomics (also sometimes referred to as principles of microeconomics). More information can be found at : www.freeeconhelp.com/2012/09/review-of-intro-to-microeconomics-notes.html
How to find Nash Equilibrium in a 2X2 payoff matrix
Просмотров 155 тыс.6 лет назад
This video goes over the strategies and rules of thumb to help figure out where the Nash equilibrium will occur in a 2x2 payoff matrix. Generally you need to figure out what the dominant strategy is for each player and then use the dominant strategy of each player to see if a final cell ends up being the choice for both players. This is generally something that is reviewed during the oligopoly ...
How to calculate Consumer Surplus without a graph
Просмотров 54 тыс.6 лет назад
This video goes over the process of how to find the consumer surplus in a problem if you are not given the graph. Generally you only need to know the WTP (willingness to pay) and the price paid, and this video goes over this example which should help you with the homework and exams that require you to find consumer surplus. More information and examples can be found at: www.freeeconhelp.com/201...
How to create a 3x3 payoff matrix for game theory
Просмотров 56 тыс.6 лет назад
This video goes over the method of creating a 3x3 payoff theory that allows students to explore the possible outcomes of applied game theory. The video also goes over possible dominant strategies as well as the potential for cooperative outcomes. More information on this topic can be found at: www.freeeconhelp.com/2012/02/how-to-create-payoff-matrix-and-example.html
How do tariffs affect the economy?
Просмотров 4,6 тыс.6 лет назад
This video goes over the definition of a tariff and how tariffs can affect the larger economy. Generally tariffs are introduced to protect some domestic industries but sometimes they can be part of a larger trade war. More information on the efficiency of tariffs and how they affect consumer and producer surplus can be found at: www.freeeconhelp.com/2011/07/dark-side-of-globalization-why-domest...
What does an elasticity measure of -.2 mean?
Просмотров 2,3 тыс.6 лет назад
This video goes over the intuitive explanation of how to interpret different elasticity measures. It also discusses the intuition behind the different elasticity measures (such as price elasticity of demand, income elasticity of demand, cross price elasticity of demand, and price elasticity of supply). Finally, it discusses the key critical values that could possibly change the relative interpr...
What is a trade war?
Просмотров 1 тыс.6 лет назад
This video goes of the causes and repercussions of a trade war. In general a trade way will begin with one country introducing tariffs trying to defend some of their domestic industries. The recipient of the tariff will then retaliate to try to mitigate the effects of the first tariff. This can result in a collapse of free trade and a loss in total surplus from both countries. More information ...
Five things you MUST understand to pass economics
Просмотров 32 тыс.6 лет назад
Five things you MUST understand to pass economics
How tastes and preferences affect demand and market equilibrium
Просмотров 13 тыс.6 лет назад
How tastes and preferences affect demand and market equilibrium
How to use the midpoint formula to calculate elasticities
Просмотров 34 тыс.6 лет назад
How to use the midpoint formula to calculate elasticities
The effect of taxes on supply and demand
Просмотров 47 тыс.6 лет назад
The effect of taxes on supply and demand
How to get an A in your Economics class
Просмотров 35 тыс.10 лет назад
How to get an A in your Economics class
Should intermediate goods be included in GDP?
Просмотров 3,7 тыс.10 лет назад
Should intermediate goods be included in GDP?
Convexity vs. Strict Convexity in economics
Просмотров 61 тыс.10 лет назад
Convexity vs. Strict Convexity in economics
How a price change affects demand for a substitute good
Просмотров 32 тыс.10 лет назад
How a price change affects demand for a substitute good
How to draw minimum wage on a supply and demand graph
Просмотров 44 тыс.11 лет назад
How to draw minimum wage on a supply and demand graph
Income elasticity of demand, what to know
Просмотров 35 тыс.11 лет назад
Income elasticity of demand, what to know
Thanks
Thanks for the lesson sir
“Spending more than producing” - well said, I’ve always struggled how to explain this … this helps
Can you choose to bring pizza on the vertical axis and broccoli on the horizontal axis
Still helpful 12 years later
Thank you.
how do you write vertically?
This is very helpful. However, where are you getting the 15 from ?
Thank you so much for this wonderful video! It really helped me
2024 😊
لا إلاه إلا الله
1:06 will IS shift due to factors affecting supply like technology improvements or like supply shocks? If so how?
very good video
even after five fuc years usefull
Brilliant
Why use r for the interest rate in the IS equation but i in the LM equation?
nvm... it's nominal vs real interest rate
Hahaha you were very confident when u said "close enough I'm not an artist" keep up the good work I'm here to watch it😍
Best explanation I’ve ever had honestly…..bless u
Thanks for just saving my life 😂❤
Thank you so much sir
fantastic
super
Thank you so much for this video,I have been struggling to understand this concept. I wanted to ask if when marginal cost=marginal benefit,does that mean allocative and productive effective is achieved?
beautiful video, i can cry
so he drew a line through all the dots.😅most people dont even know why that is wrong😂
that was a great explanation with a neat example, thanks!
Who's here in 2024😅🎉
I am a bit confused with the formula used here. How can this be used for scenarios like salaries of A and B, expenses and other benefits? a formula: OC=FO-CO. FO: Return of the FORGONE OPTION. CO: Return of the Chosen Option.
Thankyou!! Just the answer I was looking for
This was so helpful-thank you!!
THANK YOU! Over an hour spent trying to answer one problem - this explanation and I had the correct answer first try!
here i am in 2024, thank you so much
Great explanation - thanks. I am somewhat confused with the difference between a moderator variable and an exogenous variable.
What is the difference between binding price ceiling and non binding price floor?
Even though you left out key points you taught the concept so well
Omg! Thank you!!
top notch explanation, so good.
This couldn't be easier. Thanks a lot <3
Your vids are helping us Even after 11 yrs 😭😭
Super helpful, thank you !
I'm 15y/o and this video is 12y/o
Vlose enough
Talk faster
Thanks very much... I'm studying in the last minute😂
This is different to what we were taught? for LM curve our lecturer went on about speculative demand, people guessing what's going to happen to rates of return on bonds and lending
better than my professor who has a PHD in economics😂
Tq for explaining... Even though this video is 12 years ago. Its still better than my teacher from this generation
Man you just make me wanna say thank you because that is so helpful man. Keep it up
Amazing vid easy to understand i sub because of your voice good job
on the per-hour example in Jill's case, does it mean that she can either create 3 TVs OR 5 chairs per hour, or is it that in the space of an hour she can create 3 TVs AND 5 chairs?