Foreign exchange and trade (Khan Academy)

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Balance of payments. Current account. Capital account. Currency reserves and speculative attacks. (1) Balance of payments- current account and capital account Balance of payments: Current account Balance of payments: Capital account Why current and capital accounts net out (2) Currency reserves Accumulating foreign currency reserves Using reserves to stabilize currency Speculative attack on a currency […]

Income and expenditure: Keynesian cross and IS-LM model (Khan Academy)

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Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. (1) Marginal propensity to consume (MPC) MPC and multiplier Mathy version of MPC and multiplier (optional) (2) Consumption function Consumption function basics Generalized linear consumption function Consumption function with income dependent taxes (3) Keynesian cross Keynesian cross Details on shifting aggregate planned […]

The monetary system (Khan Academy)

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Fractional reserve banking and the money supply. (1) Fractional reserve banking Overview of fractional reserve banking Weaknesses of fractional reserve lending Full reserve banking (2) Money supply Money supply: M0, M1, and M2 (3) Fractional reserve accounting Simple fractional reserve accounting (part 1) Simple fractional reserve accounting (part 2) (4) Interest as the price of […]

Aggregate demand and aggregate supply (Khan Academy)

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Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. (1) Aggregate demand and aggregate supply Aggregate demand Shifts in aggregate demand Long-run aggregate supply Short run aggregate supply (2) Historical circumstances explained by AD/AS Demand-pull inflation under Johnson Real GDP driving price Cost-push inflation (3) The business cycle The […]

Inflation – measuring the cost of living (Khan Academy)

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Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve. (1) Measuring cost of living –inflation and the consumer price index Introduction to inflation Actual CPI-U basket of goods Inflation data (2) Real and nominal return Real and nominal return Calculating real return in last year dollars Relation between nominal and real returns and inflation […]

GDP: Measuring national income (Khan Academy)

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Circular flow of income and expenditure. Gross domestic product. (1) Introduction to economics Introduction to economics (2) GDP and the circular flow of income and expenditures Circular flow of income and expenditures Parsing gross domestic product More on final and intermediate GDP contributions (3) Components of GDP Investment and consumption Income and expenditure views of […]

Game theory and Nash equilibrium (Khan Academy)

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(1) Why parties in a cartel will cheat Why parties to cartels cheat Game theory of cheating firms

Forms of competition (Khan Academy)

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(1) Monopoly Monopoly basics Monopolist optimizing price: Total revenue. Monopolist optimizing price: Marginal revenue Monopolist optimizing price: Dead weight loss Optional calculus proof to show that MR has twice slope of demand Review of revenue and cost graphs for a monopoly (2) Between perfect competition and monopoly Oligopolies and monopolistic competition Monopolistic competition and economic […]

Production decisions and economic profit (Khan Academy)

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Economic profit vs. accounting profit. Average total cost (ATC) and marginal cost (MC). Marginal product of labor (MPL). Price discrimination. (1) Economic profit and opportunity cost Economic profit vs accounting profit Depreciation and opportunity cost of capital (2) Average costs (ATC, MC) and marginal revenue (MR) Marginal cost and average total cost Marginal revenue and […]

Scarcity, possibilities, preferences and opportunity cost (Khan Academy)

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How do you decide what to produce or trade? How can you maximize happiness in a world of scarcity. What are you giving up when you choose something (i.e., opportunity cost)? (1) Production possibilities frontier Production possibilities frontier Opportunity cost Increasing opportunity cost Allocative efficiency and marginal benefit Economic growth through investment (2) Comparative advantage […]