A quick overview of what you will cover in the second 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.

Hey econ students. Here’s a quick video explaining the difference between accounting profit and economic profit. Just remember that accountants only factor in explicit costs while economists factor in explicit AND implicit costs. Also,...

This is a supply and demand activity that explain how the equalibrium price is created and changed.

This is a practice quiz for Macroeconomics Unit 1. The questions are designed for AP and college introductory economics.

Two points. First, politicians shouldn't make economically unrealistic promises. A single-payer health care system would be nice, so would free college education, lower taxes, paid maternity, a balanced budget, services for senior...

This activity is designed to help you master the key graphs of macroeconomics or microeconomics. If you can spot what’s wrong with each graph you will be less likely to make those mistakes. The handout for the activity is free and is...

I hope that you and your family are safe and healthy. Like many of you, I'm quarantined in my house so I made this quick video talking about some of the economic concepts associated with recent events. I talk about scarcity, shortages,...

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

This is an old video where I explain aggregate demand, aggregate supply, and long run aggregate supply. Keep in mind that the "long run" is not a specific amount of time. The long run refers to enough time for resource prices (like...

In this video I explain how to draw a monopoly making a profit. Remember to produce at MR = MC at charge a price up to the demand curve.

Here is a practice FRQ from the 2005 AP Micro exam. Try it on your own and then go over the answers.

In this video I explain how to show the effects tariffs and quotas on a supply and demand graph. The days I filmed this video were in "spirit week". One day was sports day (that's why I'm dressed like a coach) and the other day was...

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

This is videos has 11 practice multiple choice questions for Macroeconomics Unit 2: Measuring the Economy. The questions are designed for AP and college introductory economics. Do your best and feel free to click on the "learn more" link...

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

My 60 second explanation of the difference between lump sum and per unit subsidies. Remember, lump sum affects only fixed costs so MC won't shift. A per unit subsidy will affect MC and therefore output.

This is my 60ish second explanation why the MR curve is less than the demand for all imperfectly competitive firms (except for price discriminating monopolies). Keep in mind that a monopoly must lower the price of all units to sell more...

My 60 second explanation of how to draw and excise tax (a per unit taxes on producers). You calculate the tax revenue, spending by consumers and revenue to firms. The bonus round shows shows what happens to consumer's surplus and...

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

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

Mr. Clifford's 60 second explanation of disequilibrium, surplus, and shortage.

Mr. Clifford's 60 second explanation of how to calculate Marginal Revenue Product (MRP) and Marginal Resource Cost (MRC). Remember that you hire workers where MRP = MRC to maximize profit.

Mr. Clifford's 60 second explanation of perfect competition in the short run with a firm making profit. The firm is a price taker and price is set by the market at $10. Don't forget to pause during the bonus round and calculate TR, TC,...

This is a practice quiz for Microeconomics Unit 1. The questions are designed for AP and college introductory economics.