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Jibin Park

Jibin Park

Aggregate Supply & Demand

Slide Duration:

Table of Contents

I. Introduction
Intro to Macroeconomics

43m 55s

Intro
0:00
Lesson Overview
0:14
What is Economics?
1:33
The Study of How People Seek to Satisfy Their Needs and Wants by Making Choices
1:40
Scarcity
1:56
Four Factors of Production (Resources)
2:59
Land
3:40
Labor
3:53
Capital
4:06
Entrepreneurship
4:50
Needs vs. Wabts
5:10
Choice and Cost
11:24
Opportunity Cost
12:41
Trade-Off
13:20
Opportunity Cost Example
14:16
Positive Economics vs. Normative Economics
16:19
Positive Economics
16:40
Normative Economics
17:26
Is It Normative or Positive?
18:30
Marginal Analysis
20:54
Thinking at the Margin
21:03
All or Nothing Propositions
21:29
Whether or Not to Consume the Next Unit
22:01
Marginal Analysis Example
22:10
Production Possibilities Frontier
25:00
Graph
25:17
Efficiency
25:25
Underutilization
25:38
PPF Graphs
25:45
Guns or Butter Analogy
26:03
Increasing Opportunity Cost
27:48
Law of Increasing Opportunity Cost
27:54
Curve Will Be Concave
28:04
Example
28:08
Constant Opportunity Cost
33:45
Definition of Constant Opportunity Cost
34:07
Downward-Sloping Line
34:14
Example
34:17
Example 1
37:32
Example 2
39:12
Example 3
40:37
Example 4
42:11
Comparative Advantage & Trade

45m 14s

Intro
0:00
Lesson Overview
0:07
Different Types of Economies
1:30
Market Economy
1:41
Command Economy
2:28
Mixed Economies
3:50
Absolute Advantage
4:38
Better In Producing a Particular Product
4:54
Example
5:03
Comparative Advantage
8:09
Lower Opportunity Cost in Producing a Particular Product
8:27
Example
8:52
Comparative Advantage and PPF Graph
14:30
Example 1
21:33
Example 2
25:57
Example 3
28:59
Example 4
30:17
Example 5
35:21
Example 6
40:37
Supply & Demand

48m 5s

Intro
0:00
Lesson Overview
0:09
Supply and Demand
1:34
Supply and Demand Model
1:39
Demand Curve
2:19
Supply Curve
2:23
Set of Factors
2:33
Equilibrium Price and Quantity
2:55
Demand Schedule and Demand Curve
3:09
Market Demand Schedule
3:19
Market Demand Curve
3:42
Example
3:51
Shifts of the Demand Curve
8:03
Changes in the Prices of Related Goods
8:19
Changes in Income
12:43
Changes in Tastes
14:35
Changes in Expectations
15:47
Increase in Demand (Rightward Shift)
17:25
Decrease in Demand (Leftward Shift)
18:37
Supply Schedule and Supply Curve
19:45
Market Supply Schedule
19:57
Market Supply Curve
20:09
Example
20:15
Shifts of the Supply Curve
23:38
Changes in Input Prices
24:04
Changes in Technology
24:49
Changes in Expectations
25:38
Increase in Supply (Rightward Shift)
26:56
Decrease in Supply (Leftward Shift)
28:10
Supply, Demand, and Equilibrium
29:02
Equilibrium Price
29:14
Equilibrium Quantity
29:26
Equilibrium
29:32
Surplus and Shortage
30:58
Surplus
31:09
Shortage
31:17
Example
31:22
Example 1
34:50
Example 2
36:05
Example 3
38:09
Example 4
41:53
Example 5
45:09
Changes in Supply and Demand

30m 7s

Intro
0:00
Lesson Overview
0:17
Shifts of the Demand or Supply Curve
1:34
Demand Shift to the Right
1:47
Demand Shift to the Left
2:04
Supply Shift to the Right
2:28
Supply Shift to the Left
2:42
Example 1
3:36
Example 2
5:46
Example 3
7:43
Example 4
9:37
Shifts of Both the Demand and Supply Curves
11:53
Demand and Supply Shift to the Right
13:24
Demand and Supply Shift to the Left
13:36
Supply Shift to the Left and Demand Shift to the Right
13:55
Supply Shift to the Right and Demand Shift to the Left
14:18
Example 5
17:13
Example 6
20:21
Example 7
22:44
Example 8
25:06
II. Measurements of Economic Performances
Gross Domestic Product

50m 25s

Intro
0:00
Lesson Overview
0:27
National Accounts
1:20
National Income and Product Accounts
1:21
Macroeconomist Equation
2:35
Circular Flow of the Economy
9:23
Household
11:52
Firms
12:16
Product Market
12:31
Factor Market
12:40
Expanded Circular Flow Diagram
22:26
GDP Explained
30:36
Gross Domestic Product
30:43
First Method of Calculating
34:01
Second Method
35:00
Third Method
35:34
Real vs. Nominal GDP
36:21
Nominal GDP
36:36
Real GDP
36:51
Which is a More Accurate Means of Measuring Economic Growth
38:04
Real GDP Example (2010 Base)
39:08
Real GDP Per Capita
47:36
Real GDP Per Capita
48:46
Imperfect Measure but Generally Best Measure of Standard of Living
49:59
Unemployment

43m 39s

Intro
0:00
Lesson Overview
0:14
Am I Unemployed?
1:59
Unemployment Measures
4:43
Employed
4:46
Unemployed
5:20
Labor Force
5:53
Labor Force Participation
6:21
Unemployment Rate
6:39
Unemployment Example
7:56
Limitations of the Unemployment Rate
11:06
Unemployment Tends to Understand the Employment Situation
11:16
Marginally Attached to Labor Force
11:32
Discouraged Worker
12:20
Underemployed
13:17
Types of Unemployment
14:37
Frictional Unemployment
14:45
Structural Unemployment
16:06
Cyclical Unemployment
17:00
Effect of Minimum Wage of Labor Market
19:00
Natural Unemployment Rate
22:36
Natural Unemployment
22:13
Actual Unemployment
23:47
Full Employment
24:06
Unemployment Examples
25:54
US Unemployment Data
26:16
Unemployment Rate Declined in November 2013
26:59
Civilian Labor Force Rose
28:47
Return of Furloughed Federal Government Worker
29:10
2.1 Million Marginally Attached to the Labor Force Went Down
29:44
Reasons to Not Join Labor Force
30:50
Average Workweek Increased
31:17
Average Hourly Earnings Increased
31:48
Trends in US Unemployment
32:20
Unemployment Rate Example
34:29
Inflation

28m 44s

Intro
0:00
Lesson Overview
0:09
What is Inflation?
1:11
Purchasing Power of Your Money Decreases
1:16
All Prices Increase
1:46
Fed Chairman Paul Volcke's Top Priority
2:14
Target Federal Funds Rate
2:52
What's Wrong with Inflation
3:37
Costs of Inflation
3:48
Shoe-Leather Costs
3:57
Menu Costs
4:49
Unit-of-Account Costs
5:55
Crucifying Mankind on a Cross of Gold
6:32
Winners and Losers from Inflation
8:16
Nominal Interest Rate
8:21
Real Interest Rate
9:10
Real Interest Rate Examples
11:26
Wage-Price Spiral
14:29
Combination of 'Cost-Push' and 'Demand-Pull' Inflation
14:33
Demand-Pull Inflation
14:41
Wage-Price Spiral
15:13
Keynesians Tend to Favor This Model of How Inflation Works
16:10
Monetarist View of Inflation
17:04
Issue of Money Supply
17:13
Quantity Theory of Money
17:28
Austrian View
17:53
Paul Krugman's View
18:47
Measurement and Calculation of Inflation
19:37
Aggregate Price Level
19:41
Market Basket
19:48
Price Index
20:02
Consumer Price Index and PPI
21:51
Consumer Price Index
21:58
Producer Price Index
23:59
GDP Deflator
24:35
GDP Deflator Equation
24:36
Shows How Much the Aggregate Price Level Has Increased
24:55
Not Based on a Fixed Basket of Good's and Services
25:05
Default Basket
25:24
Price Index Problems
25:54
III. National Income and Price Determination
Aggregate Demand

30m 20s

Intro
0:00
Lesson Overview
0:07
What is Aggregate Demand
1:29
Aggregate Demand Curve
1:34
All Things Equal
2:10
Basic Equation of National Income Accounting
2:35
Aggregate Demand Curve
3:54
Why is the AD Downward Sloping?
6:36
Demand Curve for an Individual Good
6:56
Aggregate Demand
7:32
Why Does a Rise in Aggregate Price Level Lead to a Fall in the Quantity of All Domestically Produced Goods?
8:00
The Wealth and Interest Rate Effect
8:25
Wealth Effect
8:34
Interest Rate Effect
9:47
Shifts in the Aggregate Demand Curve
11:01
Changes in Expectations
11:30
Changes in Wealth
12:47
Sixe of the Existing Stock of Physical Capital
13:34
Monetary and Fiscal Policy
14:13
Fiscal Policy
14:26
Monetary Policy
16:32
Example 1
20:27
Example 2
21:52
Example 3
24:20
Example 4
26:06
Aggregate Supply

24m 3s

Intro
0:00
Lesson Overview
0:12
What is Short-Run Aggregate Supply?
1:11
Shows the Relationship
1:17
Profit Per Unit of Output
1:41
Aggregate Supply Curve
2:35
Nominal Wages and Sticky Wages
4:05
Largest Source of Inflexible Production Cost
4:11
Nominal Wages Paid to Workers
5:09
Sticky Wages
5:48
Slow to Fall in Unemployment
6:04
Shifts in the Aggregate Supply Curve
9:33
Changes in Commodity Prices
10:15
Changes in Nominal Wages
10:45
Changes in Productivity
11:29
Long-Run Aggregate Supply Curve
12:24
Shows the Relationship
12:30
Potential Output
12:47
What Would Shift the LRAS?
13:57
Example 1
15:10
Example 2
18:11
Example 3
20:37
Example 4
21:41
Aggregate Supply & Demand

43m 41s

Intro
0:00
Lesson Overview
0:11
Long-Run Macroeconomic Equilibrium
1:06
The AD-AS Model
3:29
Short-Run Macroeconomic Equilibrium
3:34
Long-Run Macroeconomic Equilibrium
4:00
Recessionary Gap
4:55
Inflationary Gap
5:20
The Long-Run Approach
5:50
Initial Negative Demand Shock
6:33
Higher Unemployment in the Short-Run
6:52
Economy Moves Back to Potential Output
7:12
Self-Correcting Recessionary Gap
7:54
Expansionary Fiscal Policy
11:22
'In the Long-Run, We Are All Dead'
12:11
Increase Government Spending
13:00
Decrease Taxes
13:30
Increase in Government Transfers
13:55
Expansionary Fiscal Policy Graph
14:27
The Long-Run Approach
18:08
An Initial Positive Demand Shock
18:21
Higher Inflation and Reduced Unemployment
18:20
Economy Moves Back to Potential Output
18:27
Self-Correcting Inflationary Gap
19:04
Contrationary Fiscal Policy
22:39
President Johnson's Temporary Hike on Income Taxes
22:50
Decrease Government Spending
23:16
Increase Taxes
23:34
Decrease in Government Transfers
23:50
Contrationary Fiscal Policy Graph
24:05
Stabilization Policy
28:10
Government Policy to Refuce the Severity of Recessions
28:17
Should the Government Use Fiscal Policy to Reduce the Severity of Negative Demand Shocks
28:37
What Should the Government Due in the Face of a Negative Supply Shock?
30:19
Example 1
31:32
Example 2
34:30
Example 3
38:22
Example 4
39:58
Fiscal Policy & The Multiplier

45m 30s

Intro
0:00
Lesson Overview
0:09
The MPC and MPS
1:19
Investment Spending Increases
1:29
Increased Output
2:03
Marginal Propensity to Consumer and Marginal Propensity to Save
3:02
MPC
3:18
MPS
3:28
The Marginal Propensity to Consume
3:57
Number Is 0
4:55
Number is 1
5:13
Number is Usually Between 0 and 1
6:39
Number is 0.8
7:52
Formula
8:15
The Multiplier Effect
9:51
Autonomous Change in Aggregate Spending
9:59
Multiplier
10:36
Size of the Multiplier
11:36
Consumption Function
13:15
Equation Showing How an Individual's Household's Consumer Spending Changes with Disposable Income
13:45
Autonomous Consumer Spending
13:58
Formula
14:48
Example
15:30
Consumption Function Example
18:27
Shifts of the Aggregate Consumption Function
21:31
Changes in Expected Future Disposable Income
21:42
Changes in Aggregate Wealth
23:22
Investment Spending
24:12
If Interest Rates Go Up or Down
24:36
Expected Future Growth
25:07
Formula
25:18
Positive Unplanned Inventory Investment
25:31
Tax (or Government Transfer) Multiplier
26:38
Automatic Stabilizers
31:26
As the Economy Expands
32:03
As the Economy Contracts
32:42
2008 and 2009 Stimulus Package
33:20
2008 Question of Tax Cuts or Transfer Payments
33:21
2009 American Recovery and Reinvestment Act
36:16
Example 1
38:23
Example 2
41:19
Example 3
42:33
Example 4
43:13
IV. Financial Sector
Saving, Investment & the Financial System

48m 57s

Intro
0:00
Lesson Overview
0:08
Saving-Investment Spending Identity
1:49
Savings-Investment Spending Identity
2:09
Imagine a Country with No Government and No Trade
2:35
Budget Surplus and Deficit
7:34
Budget Surplus
8:19
Budget Deficit
10:34
Budget Balance
12:19
National Savings
12:42
Capital Inflows and Outflows
14:26
Cashflow
15:10
Capital Inflow
15:57
2008 Example
16:12
Tasks of a Financial System
20:43
Reduce Transaction Costs
21:25
Reduce Risk
21:59
Provide Liquidity
24:04
Types of Financial Assets
25:29
Bonds
25:45
Loan-Backed Securities
28:39
Stocks
30:12
Financial Intermediary
31:56
Types of Financial Intermediaries
32:01
75% of Wealth in U.S. is Held by These Four
32:29
Mutual Funds
33:08
Definition of Mutual Funds
33:17
Benefit
34:39
Downside
35:03
Households Owned Over $10 Trillion in Mutual Funds
37:47
Fidelity Investments
38:02
Pension Funds and Life Insurance
38:16
Pension Funds
38:22
Life Insurance
40:31
Banks
42:34
Accept Funds From Depositors
42:40
Keep a Fraction of Customers' Deposits in Cash Form
42:44
FDIC
43:55
Example 1
44:10
Example 2
45:01
Example 3
45:48
Example 4
47:34
The Definition & Time Value of Money

34m 5s

Intro
0:00
Lesson Overview
0:21
What is Money?
1:49
Assets That Can Be Easily Used to Purchase Goods and Services
1:52
Money in Savings Accounts, CDs or Money Market Accounts
3:02
Roles of Money
5:37
Medium of Exchange
5:53
Store of Value
6:56
Unit of Account
9:15
Types of Money
9:56
Commodity Money
10:16
Commodity-Backed Money
10:50
Fiat Money
12:20
M1 and M2
16:29
M1
16:34
M2
16:40
2010 Facts
17:01
A Penny Doubled
18:59
Present vs. Future Value
20:26
Formula
20:35
Future Value
20:42
Present Value
20:49
Interest Rate
20:54
Time Period of Investment
20:57
$0.01 = ?????
23:25
Winning the Lottery Example
24:52
Example 1
27:06
Example 2
28:33
Example 3
29:34
Example 4
31:21
Banking & Money Creation

32m

Intro
0:00
Lesson Overview
0:12
What Do Banks Do?
1:09
What Are Banks
1:13
Restrictions
1:52
Federal Reserve
2:24
Assets and Liabilities of Park's Place Bank
2:39
The Problem of Bank Runs
6:36
Financial Trouble Rumors Lead to Depositors Withdrawing Funds
7:17
Panic
7:30
Self-Fulfilling Prophecy
8:02
Bank Regulation
8:37
Deposit Insurance
8:56
Capital Requirement
9:46
Reserve Requirements
10:21
Discount Window
11:23
Money Creation Process
12:24
Money Multiplier Formula
15:20
Required Reserve Ratio
15:23
Example
15:31
Real World Money Multiplier
17:11
Some People Hold Onto Cash
17:16
Monetary Base
17:37
Money Supply
18:20
Money Multiplier
18:33
Normally It Is About 1.9
19:08
2008: It Was About 0.8
19:35
Venn Diagram
20:06
Example 1
22:28
Example 2
23:57
Example 3
26:30
Example 4
29:05
The Federal Reserve & Monetary Policy

25m 42s

Intro
0:00
Lesson Overview
0:08
History of the Federal Reserve
1:23
Established in 1913
1:27
Private Institution with a Public Component
2:22
Board of Governors
3:10
The Federal Reserve Structure
3:54
12 Federal Reserve Banks
3:57
Federal Open Market Committee
4:50
Functions of the Federal Reserve
5:22
Provide Financial Services
5:35
Supervise and Regular Banking Institutions
6:14
Maintain the Stability of the Financial System
6:34
Conduct Monetary Policy
7:20
Reserve Requirement and Discount Rate
8:00
Reserve Requirement
8:10
Discount Rate
10:24
Open Market Operations
10:55
Fed Buys or Sells U.S. Treasury Bills Through a Commercial Bank
11:25
How Do They Purchase It?
12:36
The Financial Crisis of 2008
13:31
Subprime Lending and the Housing Bubble
13:36
Fed Chair Alan Greenspan
14:01
Low Interest Rates
14:23
2003-2006 Suprime Lending Increased in Popularity
14:52
Crisis and Response
16:19
Housing Collapse
16:24
Fed Bailed Our Bear Stearns and Insurance Giant AIG
16:37
Widespread Panic in the Financial System
16:55
Quantitative Easing
17:48
Example 1
18:45
Example 2
19:25
Example 3
20:07
Example 4
22:57
The Money Market

33m 52s

Intro
0:00
Lesson Overview
0:04
Opportunity Cost of Holding Money
0:57
Can't Be Used to Invest in Other Assets
1:02
2007 Federal Funds Rate
2:24
2008 Federal Funds Rate
2:35
2009 Federal Funds Rate
2:42
The Money Demand Curve
5:01
Shifts of the Money Demand Curve
6:29
Changes in the Aggregate Price Level
7:18
Changes in Real GDP
8:54
Changes in Technology
9:44
Changes in Institutions
12:55
Money and Interest Rates
13:24
FOCM Sets up the Target Federal Funds Rate
13:28
Lower Federal Funds Rate
15:11
0% Federal Funds Rate Era
16:10
Liquidity Preference Model
16:56
Liquidity Preference Model of the Interest Rate
17:09
Open Market Operations
18:21
Changing Reserve Requirements
18:52
Lending Through the Discount Window
19:22
Equilibrium in the Money Market
19:52
Example 1
21:19
Example 2
23:21
Example 3
26:22
Example 4
30:14
The Market for Loanable Funds

32m 55s

Intro
0:00
Lesson Overview
0:05
Loanable Funds Market
0:57
Loanable Funds Markets
1:17
Savers
1:46
Borrowers
2:26
Equilibrium in the Loanable Funds Market
3:27
Equilibrium in Loanable Funds Market
3:45
Shifts of Demand for Loanable Funds
5:47
Changes in Perceived Business Opportunities
5:59
Changes In the Government's Borrowing
7:10
Shifts of the Supply of Loanable Funds
8:35
Changes in Private Savings Behavior
8:44
Changes in Capital Inflows
10:24
Inflation and Interest Rates
11:07
Real Interest Rate
12:01
A Good Hedge Against Inflation
14:21
Fisher Effect
14:54
Increase in Supply of Loanable Funds
15:38
Interest Rate in the Short Run
16:57
Fall in Interest Rates
17:00
Increase in the Money Market
17:14
Short Run
17:26
Interest Rate in the Long Run
18:16
Increase in Money Supply in Long Run
18:41
Supply of Loanable Funds
19:42
Supply and Demand for Loanable Funds Determines the Interest Rate
20:12
Example 1
20:20
Example 2
23:40
Example 3
28:18
Example 4
29:29
V. Inflation, Unemployment, and Stabilization Policies
Budget Deficits & the National Debt

40m 8s

Intro
0:00
Lesson Overview
0:07
The Budget Balance
1:20
Formula
1:54
Rule of Thumb
4:07
Generally, Contractionary Fiscal Policies Will Increase the Budget Balance
6:02
Cyclically Adjusted Budget Balance
9:35
Estimate if Real GDP was Equal to Potential Output
9:56
Economic Expansion
10:13
Contractions
10:44
Should the Budget Be Balanced?
11:35
Balanced Budget Amendment
13:00
Restricts a Country's Ability to Run a Budget Deficit During Recessions
13:40
National Debt
15:50
Problems of a Rising Government Debt
16:15
Crowding Out Effect
16:28
Today's Deficits Increases the Public Debt
18:17
Historical Debt-GDP Ratio
20:33
Trends in Debt-GDP Ratio
24:03
U.S. Trends to Run a Budget Deficit During War
24:05
U.S. Total Debt-GDP Ratio Exceeded 100% During Relative Peace
24:30
Debt Grows Larger with Projected Budget Deficits Continuing
25:06
Implicit Liabilities
26:35
Spending Promises Made by the Government
26:45
Three Largest Implicit Liabilities of the American Gov
27:27
Net Present Value of Debt
28:26
Example 1
29:25
Example 2
33:40
Example 3
35:28
Example 4
37:59
Inflation & Unemployment

32m 24s

Intro
0:00
Lesson Overview
0:09
The Short-Run Phillips Curve
1:05
High Unemployment Rate
1:24
Low Unemployment Rate
1:49
Short-Run Phillips Curve Graph
3:20
Inflation Expectations
6:24
Increase in Expected Inflation
6:47
Expectations Based on Experience
6:58
Inflation and Unemployment in the Long Run
7:39
Most Economists Believe There is No Trade-Off Between Unemployment and Inflation
7:48
Nonaccelerating Inflation Rate of Unemployment NAIRU
8:27
Long-Run Phillips Curve
9:01
Long-Run Phillips Curve and NAIRU
9:24
The Costs of Disinflation
12:03
Harder to Bring Inflation Down Than to Increase It
13:10
Disinflation
13:38
Long-Term Benefit of Controlling Double-Digit Inflation
14:13
Announcing Policy of Disinflation
14:55
The Costs of Deflation
15:21
Deflation is the Fall in the Aggregate Price Level
15:53
Why is Deflation Bad?
16:35
Lenders Gain and Borrowers Lose
17:31
Effect of Deflation
17:43
Japan's Liquidity Trap of the 1990s
19:30
Liquidity Trap
22:13
Japan Example
22:58
Example 1
23:48
Example 2
25:14
Example 3
27:05
Example 4
28:31
VI. Economic Growth and Productivity
Economic Growth

32m 28s

Intro
0:00
Lesson Overview
0:07
Real GDP Per Capita
1:17
Real GDP Per Capita
1:23
How Do You Find the Real GDP Per Capita
1:34
Many Countries Have Lower Standard of Living Than U.S.A. 100 Years Ago
4:29
Long Run Economic Growth
5:36
Growth Rate
6:00
Physical Capital
8:09
Human Capital
8:27
Technology
9:17
Economic Growth on a PPF Graph
10:37
Investment vs. Consumer Good
15:31
Long-Run Growth and the LRAS Curve
19:08
Short-Run to Long-Run: Example 1
21:07
Short-Run to Long-Run: Example 2
24:01
Example 1
26:09
Example 2
27:33
Example 3
29:48
Example 4
31:09
Balance of Payments

36m 56s

Intro
0:00
Lesson Overview
0:06
Balance of Payments Account
1:01
Current Account
1:09
Sales and Purchases of Goods and Services
1:54
Factor Income
2:58
International Transfers
3:48
Sales, Factor and Transfers
4:13
Financial Account
7:58
Official Asset Sales and Purchases
8:29
Private Sale and Purchases of Assets
9:01
Financial Account
10:19
Current Account = -Financial Account
12:10
Formula
12:30
What a Country's Financial Account Measures
13:37
Financial Account and Loanable Supplies
14:30
Foreign Direct Investment
14:40
Exchanges Rates
15:20
Assume Equilibrium Interest Rate is 4%
15:30
The Loanable Funds Model: Example 1
15:50
The Loanable Funds Model: Example 2
16:49
GDP, GNP, and the Current Account
21:33
Basic Equation for National Income Accounting
21:45
Why Doesn't the National Income Equation Use the Current Account as a Whole?
22:23
Gross National Product Includes International Factor Income
22:54
Why Do We Use GDP and Not GNP
23:03
Global Savings Glut
24:07
U.S. Entered in a Massive Current Account Deficit
24:14
U.S. Takes in a Lot of Capital Inflow from the Rest of the World
24:50
How Did This Happen?
25:06
Example 1
27:05
Example 2
28:10
Example 3
30:43
Example 4
33:01
VII. Open Economy: International Trade and Finance
Foreign Exchange Market

40m 31s

Intro
0:00
Lesson Overview
0:06
Understanding Exchange Rates
1:19
Items Produced in a Country Will be Paid for In That Country's Currency
1:24
Foreign Exchange Market
2:12
The Foreign Exchange Market: Dollar Example
5:33
The Foreign Exchange Market: Euro Example
9:44
Inflation and Real Exchange Rates
15:34
Real Exchange Rates
16:32
Current Account Responds Only to Changes in the Real Exchange Rate
17:01
Purchasing Power Parity
18:02
Concept for Analyzing Interest Rates
18:10
Purchasing Power Parity Between Two Countries Currencies
18:24
In Theory, You 'Should' Be Able to Buy $100 Worth of Stuff in Any Country
19:01
Burgernomics
21:03
Big Mac Index
21:13
Not the Best Measure
21:54
U.S. Cost of Big Macs
22:38
Overvalued Big Macs
23:10
Undervalued Big Macs
24:09
Chart: Buns For Your Buck
25:12
Floating vs. Fixed Exchange Rate Regime
26:31
Fixed Exchange Rate
26:40
Floating Exchange Rate
27:50
Exchange Rate Dilemma
29:40
Fixed Rate Regimes Give Predictability to Trade
29:44
Every Choice Has a Cost
30:30
Example 1
32:21
Example 2
33:55
Example 3
35:25
Example 4
37:30
VIII. AP Test
Major Graphs Review

21m 51s

Intro
0:00
Lesson Overview
0:08
The Scenario
1:07
The Inflationary Gap
3:27
The Money Market Graph
7:51
Higher Interest Rate = Decreased Investment
14:52
Exchange Market Graph
17:32
AP Practice Exam: Multiple Choice

46m 2s

Intro
0:00
Multiple Choice 1
0:30
Multiple Choice 2
6:21
Multiple Choice 3
7:33
Multiple Choice 4
9:54
Multiple Choice 5
12:04
Multiple Choice 6
14:49
Multiple Choice 7
17:11
Multiple Choice 8
19:11
Multiple Choice 9
20:17
Multiple Choice 10
22:55
Multiple Choice 11
24:25
Multiple Choice 12
27:56
Multiple Choice 13
29:08
Multiple Choice 14
30:00
Multiple Choice 15
31:26
Multiple Choice 16
32:57
Multiple Choice 17
33:44
Multiple Choice 18
36:12
Multiple Choice 19
38:11
Multiple Choice 20
40:40
Multiple Choice 21
42:55
AP Practice Exam: Free Response, 2012

23m 14s

Intro
0:00
Free Response 1
0:10
Free Response 2
11:19
Free Response 3
17:05
AP Practice Exam: Free Response, 2013

22m 39s

Intro
0:00
Free Response 1
0:14
Free Response 2
9:56
Free Response 3
15:34
AP Practice Exam: Full-Length Multiple Choice

1h 16m 21s

Intro
0:00
Multiple Choice 1
0:19
Multiple Choice 2
1:09
Multiple Choice 3
2:34
Multiple Choice 4
3:19
Multiple Choice 5
4:36
Multiple Choice 6
5:54
Multiple Choice 7
7:08
Multiple Choice 8
8:37
Multiple Choice 9
9:36
Multiple Choice 10
10:29
Multiple Choice 11
11:57
Multiple Choice 12
12:52
Multiple Choice 13
14:09
Multiple Choice 14
16:52
Multiple Choice 15
19:14
Multiple Choice 16
20:48
Multiple Choice 17
21:46
Multiple Choice 18
22:57
Multiple Choice 19
24:20
Multiple Choice 20
26:09
Multiple Choice 21
27:02
Multiple Choice 22
28:10
Multiple Choice 23
28:52
Multiple Choice 24
29:36
Multiple Choice 25
30:24
Multiple Choice 26
31:31
Multiple Choice 27
32:44
Multiple Choice 28
33:39
Multiple Choice 29
35:40
Multiple Choice 30
37:02
Multiple Choice 31
38:10
Multiple Choice 32
38:49
Multiple Choice 33
39:40
Multiple Choice 34
40:30
Multiple Choice 35
41:50
Multiple Choice 36
42:19
Multiple Choice 37
44:37
Multiple Choice 38
46:09
Multiple Choice 39
48:33
Multiple Choice 40
49:20
Multiple Choice 41
50:24
Multiple Choice 42
52:47
Multiple Choice 43
53:54
Multiple Choice 44
55:15
Multiple Choice 45
56:47
Multiple Choice 46
57:48
Multiple Choice 47
1:00:37
Multiple Choice 48
1:01:40
Multiple Choice 49
1:02:41
Multiple Choice 50
1:03:17
Multiple Choice 51
1:04:09
Multiple Choice 52
1:05:04
Multiple Choice 53
1:06:20
Multiple Choice 54
1:08:32
Multiple Choice 55
1:09:07
Multiple Choice 56
1:09:50
Multiple Choice 57
1:11:26
Multiple Choice 58
1:12:38
Multiple Choice 59
1:13:19
Multiple Choice 60
1:14:36
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