Hey econ students. In this video I explain the short run and long run aggregate supply curves. In the short run, wages and resource prices don’t change when there's a change in price level. But, in the long-run, wages and resources...

Ok. In this one I draw and explain the graph for loanable funds and crowding out.

In this episode of EconMovies, I use the movie Cars to introduce the idea of GDP, the business cycle, recession, and fiscal policy. Good luck studying economics. Kachow! :13 Micro v. Macro 1:27 GDP 1:47 Components of GDP 3:03 Business...

In this video I explain the basics of fiscal policy and the difference between non-discretionary and discretionary fiscal policy.

Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.

Which is worse? Tuvalu has the lowest GDP, Burundi has the lowest GDP per capita, Venezuela has massive inflation and long lines for basic necessities, and the economy of North Korea is...well, broken. What do you think? Which country...

Learn about the concept of negative externalities and how they lead to market failure. Using a graph, the teacher demonstrates the difference between the socially optimal quantity and the quantity produced in a free market. They also...

Hey econ students! Thank you for watching my videos. I really appreciate it. In this video I quickly go over the difference between the inflation rate and the Consumer Price Index (CPI) and then give you several practice problems. Be...

This music video was written and created by Mr. Clifford. The singing was done by the very talented Gabi Cavassa from the class of 2012. It covers many of the key graphs of microeconomics. Don't forget to watch the very end. Enjoy!

Hey students. This video is designed to help you calculate and apply marginal utility and marginal utility per dollar. Many teachers and professors ask questions that require you to determine the utility maximizing combination with two...

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the...

Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.

In this video I explain how to draw a firm in monopolistic competition. Notice, the firm will make zero economic profit in the long run since there are low barriers to entry. Make sure you know how the graph changes from the short run to...

Foreign exchange practice questions.

Mr. Clifford's 60 second explanation of how to draw monopolisticly competitive firm in long run equilibrium. Remember that ATC must hit the demand curve at the "sweet spot". In the bonus round learn why the firm is not efficient and...

Everyone that’s been paying attention to the economy wants to know one thing: Is the United States going to have massive, uncontrolled inflation? In this video I answer that question and talk about how we got here.

A quick overview of what you will cover in the sixth unit of Microeconomics. Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.

In this video I explain the market for foreign exchange and national currencies.

Individuals and countries benefit from trade. Even though it isn't very realistic, simplified examples like this will help you understand the idea of comparative advantage. Make sure that you can calculate the per unit opportunity cost...

In this video I explain how to draw a monopoly with first degree price discrimination. Try pausing the video to see if you can show price, consumer surplus, and profit on the graph. Please keep in mind that these clips are not designed...

Float it or fix it? Mr. Clifford expalins the difference between floating and fixed exchange rates and how countries peg the value of their currency to another currency.

Should you take $100 today or $200 in two years? Mr. Clifford expalins how to calculate the future value and the present value of money.

In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC.

A quick overview of what you will cover in the third unit of Microeconomics. Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.