Jacob Clifford
Intro - Costs of Production and Perfect Competition
Here is a brief introduction to the concepts covered in an economics course unit on the costs of production and perfect competition.
Jacob Clifford
Four Market Structures Simulation
Here is a fantastic resource in which you will watch as an instructor models a simulation conducted in an economics class on the four market structures (perfect competition, monopolistic competition, oligopoly, monopoly).
Jacob Clifford
MR = MC Practice
Given quantity, total cost, and a perfectly competitive firm, how much should an organization produce and what will be the profit? Watch as the concept of profit maximization is broken down and explained with real-time illustrations and...
Jacob Clifford
Cost Curves MC, ATC, AVC, and AFC
What is the concept of a cost curve, and how are they used? Watch as this instructor demonstrates and explains marginal cost curve, average total cost, average variable cost, and average fixed cost.
Jacob Clifford
Perfect Competition in the Short Run
What exactly is perfect competition, one of the four market structures, in economics?
Jacob Clifford
Perfect Competition in the Long Run
What happens in the long run when there is time for firms to enter and leave a market in perfect competition?
Jacob Clifford
The Shut Down Rule
When prices fall below a certain point, why does that cause a shut down? Using the concept of fixed costs and losses, and by drawing on a sample graph, watch as this instructor explains the shut down rule of economics.
Jacob Clifford
Marginal Product and Marginal Cost
Help your learners get a better handle on marginal cost and product curves, and review the process of completing charts and graphs associated with this concept.
Jacob Clifford
Comparative Advantage: Econ Concepts in 60 Seconds
Walk your learners step-by-step through the process of creating a comparative advantage chart with a sample problem involving the production of cars and rice on a production possibilities curve.
Jacob Clifford
Production Possibilities Curve and Opportunity Cost
What happens when the resources used as part of a production possibilities curve are not easily adaptable to produce both goods? Watch as an economics instructor uses an example of an economy producing pizzas and robots in...
Jacob Clifford
Classical vs. Keynesian Aggregate Supply
What is the difference between the Classical and Keynesian models of economics with regard to price levels and the aggregate supply graphs?
Jacob Clifford
Economic Growth
With an increase in investment, what happens to aggregate demand, aggregate supply, and eventually, long-run aggregate supply? Here you'll find a great explanation of how greater long-run aggregate supply correlates to a wide...
Jacob Clifford
Multiplier and Spending Practice
Walk your learners through the process of how government determines to shift its spending in order to address a recessionary gap using the multiple propensity to consumer.
Jacob Clifford
Multiplier and Taxes Practice
How does the math work behind cutting taxes to close a recessionary gap? Here an economics instructor walks viewers through the step-by-step process of working with the spending multiplier to calculate changes in taxes and closing...
Jacob Clifford
Calculating the Multiplier
Watch as an instructor guides viewers through a quick practice of calculating the spending multiplier in economics, as well as reviews the implications of increased individual spending or saving on the economy.
Jacob Clifford
Multiplier Effect, MPC, and MPS
Introduce the multiplier effect to your class members and help them understand the difference between the marginal propensity to consume and save.
Jacob Clifford
Fiscal Policy: Non-Discretionary vs Discretionary
Review the difference between discretionary and non-discretionary fiscal policy, and the various types of government actions that belong in each category.
Jacob Clifford
Graphing Practice
Help your class members make sense of the different graphs in economics, from aggregate demand and supply to the phillips curve, production possibilities curve, and business cycle.
Jacob Clifford
Long-Run Aggregate Supply
What happens in the long run when aggregate demand increases? Find out how wages, aggregate supply, and the long-run aggregate supply graph are affected by following along with this economics instructor in his instructional video.
Jacob Clifford
Law of Diminishing Marginal Returns
Before delving into the concept of cost curves in your class, discuss the relationship between inputs and outputs and the law of diminishing marginal returns. Here, an instructor uses data and graphs representing friends mowing...
Jacob Clifford
The Phillips Curve (Short and Long Run)
How does one graph the Phillips curve? Here you'll find a great instructional video on how to use information and concepts from a basic aggregate supply and demand curve in order to draw the short run and long run Phillips curve.
Jacob Clifford
Inflationary and Recessionary Gaps with Fiscal and Monetary Policy
Where does the long run aggregate supply curve in graphs of an inflationary and recessionary gap? Check out this video for instruction on this process, as well as to learn about the motivations behind monetary and fiscal policy in...
Jacob Clifford
Aggregate Demand and Supply and LRAS
Learn about the "most important graph in all of macroeconomics: aggregate demand and aggregate supply". Here, an economics instructor explains how wages, resource prices, and supply are all affected within shifting aggregate curves.
Jacob Clifford
Intro - Aggregate Demand, Aggregate Supply, and Fiscal Policy
Similar to the value of reading a table of contents before delving into a complex textbook, check out this video introduction to a unit of economic concepts, including aggregate demand and supply and fiscal policy.