Institute for New Economic Thinking
Thomas Ferguson and Rob Johnson - When Wolves Cry Wolf
The Inaugural Conference @ King's, Institute for New Economic Thinking, Session 8: Political Economy: What Can Government Do? What Will Government Do?
Curated Video
Production Possibility Diagrams: Understanding the Economic Problem
The video introduces the concept of production possibility diagrams. The video explains the limited nature of resources in an economy and how production possibility diagrams represent feasible and infeasible production combinations given...
ACDC Leadership
Comparative Advantage and Trade - Macro Topic 1.3 (Micro Topic 1.4)
This topic is somehow ridiculously simple and ridiculously complex. The simple part is understanding that trade is mutually beneficial. The complex part is calculating per unit opportunity cost and determining how individuals, business,...
Curated Video
Understanding Debt and Equity Capital for Financial Markets
This video provides a detailed explanation of the differences between debt capital and equity capital as ways of raising finance in the financial markets. The host discusses the various economic agents who operate in these markets and...
Economics Explained
The Economics Of The Art Market: Why This Painting Isn't Worth $450 Million
In 2017, at Christie’s Auction House in New York, a mysterious #Art buyer bid a record-breaking $450 million dollars for the #SalvatorMundi; a painting by the legendary Leonardo da Vinci. News of the staggering purchase price sent...
Economics Explained
The Economics of the Prison Industrial Complex
There are over 10 million people in some form of government incarceration around the world today. There are 2.3 million in the USA alone and anyway you slice it that is a huge population of people. The population of people living in...
Curated Video
Understanding the External Environment: Factors Impacting Businesses Beyond Control
This video provides an overview of the external factors, such as political, economic, social, technological, legal, and environmental impacts that can affect a business from outside of its control. The speaker explains through examples...
Curated Video
How to Calculate Economic Profit
The video is a tutorial on how to calculate economic profit. The presenter first explains the difference between accounting profit and economic profit, emphasizing that economists are more interested in the latter. They then go through...
ACDC Leadership
The Ultimatum Game- Are people rational?
This is a quick overview of The Ultimatum Game. It is a super fun activity and a great way to show that people don't just look at money when they make decisions.
Curated Video
Understanding Productive Efficiency in Economics
This is a tutorial video that explains the concept of productive efficiency within the context of an entire economy and at the level of a single firm. The video defines productive efficiency and provides two definitions for it - one for...
Curated Video
Understanding Opportunity Costs and Trade-Offs in Business Decisions
The video discusses the concept of opportunity costs and trade-offs in decision making, using various examples to illustrate the idea. The presenter explains how every choice has an opportunity cost, or the benefit you miss out on by...
ACDC Leadership
Maximizing Profit and the Shut Down Rule- Micro Topics 3.5 and 3.6
Hey econ students. If there is only ONE thing that you need to know for your microeconomics class and for running your own business it’s the profit-maximizing rule. You always produce where MR = MC. Well, not always. Sometimes you should...
ACDC Leadership
5 comparative advantage HACKS you need to know
Hey econ students, I made this video to help you rock the comparative advantage and terms of trade question on your econ exams.
ACDC Leadership
Unit 1, Question 5- Law of Increasing Opportunity Cost
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
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Comparative Advantage Practice
If you want to skip the lesson and just practice go to 10:48. I spend the first have of the video explaining how to identify which country has an absolute advantage, calculate opportunity cost, identify which country has a comparative...
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Externalities- EconMovies #7: Anchorman
Hey econ students. This is Jacob Clifford. In this episode of EconMovies, I use Anchorman to explain marginal benefit, marginal cost, efficiency, and externalities.
Curated Video
Introduction to Comparative Advantage and Trade
This video provides an in-depth analysis of the concept of comparative advantage in economics. The lecturer, Peter Jordan, begins by building on the concept of absolute advantage in the previous video lecture. He explains that the...
Curated Video
Introduction to Discounting and Present Value
This video introduces the concept of discounting in finance and explains how it is used to calculate the present value of future cash flow payments. The video also discusses the time value of money and how waiting for future payments can...
ACDC Leadership
Micro Unit 1, Question 10- Comparative Advantage
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
Professor Dave Explains
Absolute Advantage vs. Comparative Advantage
Now that we've learned about specialization, we are ready to learn about absolute advantage and comparative advantage. This is something that can help an individual, company, or country determine what is in their best interests to...
ACDC Leadership
Cost-Benefit Analysis- Micro Topic 1.5
Hey internet! This is Jacob Clifford. In this episode I explain explicit and implicit benefits and costs. I also define utility and explain the idea of cost-benefit analysis.
The answers to the practice questions are in the comments...
Professor Dave Explains
Scarcity, Trade-offs, and Cost/Benefit Analysis
A core concept we must discuss if we are to understand economics is scarcity. Our wants and needs are endless, but the things we want and need are necessarily finite in nature. Therefore, we can say that these things are scarce. They run...
ACDC Leadership
Production Possibilities Curve Review
In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching.