How can you use aggregate demand and supply to illustrate economic growth? Savvy economics instructor Mr. Clifford illustrates how interest rates affect aggregate demand and supply in the long and short run, and how long run aggregate supply (LRAS) can shift to cause economic growth.
- Given the speed at which Mr. Clifford moves through the concepts, this video would best be used as a summary or study tool after you have conducted a complete lesson on economic growth. Provide a link to this video on a class website, or use as a model for your own instruction
- Pupils should have an understanding of how to address a recessionary or inflationary gap, aggregate demand shifters, full employment, and the production possibilites curve prior to beginning this video
- Uses graphs to illustrate concept throughout video
- Explains concepts that are commonly confused by students