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Intro to Economics: Crash Course Econ #1

In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started!

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How The Economic Machine Works by Ray Dalio

Economics 101 -- How the Economic Machine Works.

Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, How does the economy really work? Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.

To learn more about Economic Principles visit:

[Also Available In Chinese] 经济这台机器是怎样运行的:

[Also Available In Russian] Как действует экономическая машина. Автор: Рэй Далио (на русском языке):

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Why are Cold Countries Richer than Hot Countries?

There are all manner of factors that make poor countries poor and rich countries rich. Many of these factors we have explored in depth when we have looked at economies like the democratic republic of the Congo all the way up to places like Switzerland and Norway.

Political Stability, industry, natural resource wealth are all incredibly important variables but there is something extra here that just doesn’t seem to make sense.

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What is Economics?

The typical first-year student walks into his first economics class with very little idea of what economics is. He might have heard something like, economics is the study of money, or economics is another word for accounting, or economics is hard, don't take that class, but none of those are true.

Economics is the study of the use of scarce resources that have alternative uses. That's the classic definition of economics. Basically, there are people, and people need resources to fulfil their desires. These resources cannot be infinite, but the desires can be, so people need to make choices about how to use their scarce resources. Economists study these choices.

All economic questions fall into one of two categories: positive and normative. Positive economics describes what is and normative economics argues for what ought to be, so a question like, why do people use money? is a positive question and should people use money? is a normative question.

A general rule of thumb is that if your economic model has no value judgements, it's positive economics, and if it does have value judgements it's normative economics, since to tell someone what he ought to do, you first have to judge what is best for him.

Economics is also divided into microeconomics and macroeconomics. Microeconomics studies the behaviour of individual agents and markets, while macroeconomics studies the behaviour of the entire economy.

Economists also have their own branch of statistics called econometrics that's specialized to analyzing economic data. Since economic data usually comes from the real world, and not from controlled experiments, econometrics faces mathematical challenges that other fields might not.

The tools economists have developed to study human behaviour have broad uses outside of what we would traditionally consider economics. Economists study not only markets, but things like crime, war, the family, religion, culture, politics, law, and even genetics. That's why it's not unusual to see papers by psychologists, sociologists, criminologists, political scientists, anthropologists, biologists, neuroscientists, or legal scholars being co-authored by economists.

Is An Economics Degree Worth It?

Today's video is going to be about economics degrees and whether it's worth it or not

This is technically not a business degree but graduates may end up competing for the same job, so I sort of group them together

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There are a lot of college degrees out there and economics is one of those degrees where it's not 100% obvious that it's a good one

So we will go over some of the careers that you can get, the salary, the job satisfaction, the job outlook, and also the x factors that go into choosing these types of jobs


These videos are for educational and entertainment purposes only. I am not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, not the opinion of a stranger on the internet.

Sources and further readings: of labor statistics) center for educational statistics)
payscale(provides information on jobs and degrees)

Introduction to economics | Supply, demand, and market equilibrium | Economics | Khan Academy

Learn about some of the key ideas that influenced early economic thinkers, such as Adam Smith, in this video.

Practice this yourself on Khan Academy right now:

Economics on Khan Academy: Economics is the study of individuals and societies allocate scarce resources. Learn how markets work, how individuals maximize their happiness and firms maximize profits, and how economies grow. We hit the topics you would expect to see in high school and college level introductory economics courses.

About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.

For free. For everyone. Forever. #YouCanLearnAnything

6 Biggest Lies About Majoring in Economics

Should I major in economics? I get that question a lot, but there are so many misconceptions about what an economics major brings. In this video, I wanted to clarify them.

Questions I cover:
Do economics majors get jobs?
How much money do economics majors make?
Is an economics major worthless without a PhD?
Is economics too ideological?
Is economics a science?
Do you have to be good at math? I address all of these questions and more!

15 Jobs You Can Get With An ECONOMICS MAJOR
The 5 Best Books For Learning Economics
5 Books that Helped Me LOVE Economics
How To Understand Elasticity
Home Depot proves economics is wrong!

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Elon Musk's Basic Economics

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Music: Under Suspicion by Lee Rosevere and Euphoric by Sound of Picture

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Why Amazon is Begging For Regulations - The Twisted Economics of Amazon

In two short decades, Amazon has grown from a modest online bookstore to an international conglomerate. A conglomerate that seems hellbent on moving into every growing industry out there.

Amazon will only be the second company this channel has ever explored but it is extremely important to understand for a few reasons. most curiously, why amazon is pushing for reform in key areas that wouldn't really be expected...

#Amazon #Economics #monopolies

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What causes an economic recession? - Richard Coffin

How can factors like inflation, supply and demand, and interest rates trigger recessions? Learn the economic basics of modern markets.


For millennia, the people of Britain had been using bronze to make tools and jewelry, and as a currency for trade. But around 800 BCE, that began to change: the value of bronze declined, causing social upheaval and an economic crisis— what we would call a recession today. So what causes recessions? Richard Coffin digs into the economic fluctuations that affect our modern markets.

Lesson by Richard Coffin, directed by Augenblick Studios.

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Thank you so much to our patrons for your support! Without you this video would not be possible! Felipe Hoff, Rebecca Reineke, Cyrus Garay, Victoria Veretilo, Michael Aquilina, William Biersdorf, Patricia Alves Panagides, Valeria Sloan Vasquez, Mike Azarkman, Yvette Mocete, Pavel Maksimov, Victoria Soler-Roig, Betsy Feathers, Samuel Barbas, Therapist Gus, Sai Krishna Koyoda, Elizabeth Parker, William Bravante, Irindany Sandoval, Mark wisdom, Brighteagle, Beatriz Inácio, Mighterbump, Pamela Harrison, Maija Chapman, Liana Switzer, Curtis Light, The Brock, Dianne Palomar, Edgar Campos Barrachina, Maria Lerchbaumer, Ever Granada, Marin Kovachev, Ravi S. Rāmphal, Penelope Misquitta, Tekin Gültekin, Jhuval, Hans Peng, Gaurav Mathur, Erik Biemans, Tony, Michelle, Katie and Josh Pedretti, Vaibhav Mirjolkar, Thomas Bahrman, Allan Hayes, Aidan Forero, Uday Kishore, Mikhail Shkirev, Devesh Kumar, Sunny Patel and Anuj Tomar.

The Economics of Real Estate

A home is in most developed nations in the world the centrepiece of the family finances, it is simultaneously the largest investment and largest expense of almost any individual lucky enough to break it to this increasingly unattainable market with a massive mortgage.

But is this all for the best? Have houses been conflated with poker chips, as people no longer look at them as shelter for a growing family but rather as an asset to make wild speculative moves on in the hope of equally wild returns.

The property market was at the centre of the last financial downturn in 2008, and as it seems we are on the precipice of another major recession it is probably a prudent time to re-evaluate what is going on with the world of real estate.

To do this we are really going to have to look at things on a few level’s from the macroeconomic factors like over-development and over-leveraging to issues on an economy-wide level which is ultimately going to boil down to answering a few key questions: What does a strong property market mean for the wider economy? Are their better investments out there? And are we over-leveraged right now? #realestate #economics #recession

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???? Want to learn more about the economics of real estate? We recommend reading Economics, Real Estate and the Supply of Land, by Alan Evans
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References -

Jowsey, E., 2011. Real estate economics. Macmillan International Higher Education.

Evans, A.W., 2008. Economics, real estate and the supply of land

Barlowe, R., 1978. Land resource economics: the economics of real estate.

DiPasquale, D. and Wheaton, W.C., 1996. Urban economics and real estate markets (Vol. 23, No. 7). Englewood Cliffs, NJ: Prentice Hal

Wheaton, W.C., 1999. Real estate “cycles”: some fundamentals. Real estate economics

Basic Economics - Thomas Sowell Audible Audio Edition

Basic Economics is a citizen’s guide to economics-for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind any kind of economy-capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.

The Economic Impact of COVID So Far: Is Coronavirus Causing a Global Recession? - TLDR News

As COVID continues to spread the globe and as economies re-open, many are questioning the impact that the virus has had on economies worldwide. In this video, we look at the economic impact and consider whether coronavirus has started the next major global recession.

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TLDR is a super small company, run by a few people with the help of some amazing volunteers. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can't wait to grow further and help more people get informed. Help support us by subscribing, following and backing on Patreon. Thanks!


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Professor Richard Wolff: The coming economic crash will be like NOTHING in history

Professor of Economics Richard Wolff explains the dire direction our economy is headed towards as unemployment continues to skyrocket.

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Micro Unit 1 Summary- Basic Economic Concepts

The Micro Unit 1 Summary video is designed to help you understand economics and goes hand-in-hand with my Ultimate Review Packet. In this video I cover the basics: scarcity, opportunity cost, the economic systems, the production possibilities curve, and comparative advatage. I also show you the quick and dirty (22:22). Don't worry, it's school appropriate. Thanks for watching and please subscribe.

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KITE VICTERS Plus two Economics Class 04 (First Bell-ഫസ്റ്റ് ബെല്‍)

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Modern Monetary Theory - How it Could Answer All Of Our Economic Problems

Modern Monetary Theory is something so simple yet so complex all at the same time, it does really involve divorcing your mind from how you personally interact with money to ultimately grasp how cash works at an economy-wide level.

A lot of supporters of the theory push it as a cure-all to any economic ailments, and you know what with the money printers firing away like they are right now we may finally get a chance to find out if they are correct, but in reality, it’s not a prescription to fix a broken economy as much as it is an insight into how modern economies work. #stimulus #moneyprinter #recession

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???? Want to learn more about Modern Monetary Theory? We recommend reading Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, Second Edition, by L. Randall Wray ???? (as an Amazon Associate, we earn from qualifying purchases)

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References -

Luther, W.J., 2018. Is bitcoin intrinsically worthless?. AIER Sound Money Project Working Paper

Duffy, J. and Ochs, J., 2002. Intrinsically worthless objects as media of exchange: Experimental evidence. International Economic Review

Ritter, J.A., 1995. The transition from barter to fiat money. The American Economic Review

McCabe, K.A., 1989. Fiat money as a store of value in an experimental market. Journal of Economic Behavior & Organization

Palley, T.I., 2015. Money, fiscal policy, and interest rates: A critique of Modern Monetary Theory. Review of Political Economy

Visser, H., 1991. Modern monetary theory

Tsiang, S.C., 1989. The monetary theoretic foundation of the modern monetary approach to the balance of payments. In Finance Constraints and the Theory of Money

????Economics Non Stop by Afreen Ma'am (Timestamps in description)

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Basics of Economics - 00:00:00
Budget - 00:30:20
GST - 01:36:05
Direct Tax - 02:26:48
Income Tax Slab - 03:13:29
Expenditure - 03:25:55
Situations of Budget - 03:51:10
Types of Deficit - 04:41:41
Inflation - 04:53:32
Types of inflation - 06:08:08
Calculation of Inflation - 06:24:16
Effects of inflation - 06:39:32
Types of economies - 07:08:11
Banking system - 07:33:31
Monetary Policy - 07:52:28
Classification of banks - 08:36:05
National Income - 08:44:40
Transfer Payments - 09:45:24
Demand and supply - 09:54:40
Elasticity of demand - 11:07:34

An economist walks into a bar | Robert Litan | TEDxKC

This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life.

As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September.

Litan currently is a non-resident senior fellow at Brookings; counsel to Korein Tillery, a law firm based in St. Louis and Chicago specializing in large case litigation; chief economist at Main Street Genome, a D.C.-based startup providing financial analytics to small businesses; and a regular contributor to the Think Tank blog published by The Wall Street Journal.

About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

Macroeconomics: Crash Course Economics #5

This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics, and the major movers in the economy. Like taxes and monetary policy and inflation and policy. We need this stuff, because if you don't have a big picture of the economy, crashes and panics are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment, unemployment

Crash Course is on Patreon! You can support us directly by signing up at

Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:

Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters


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