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Economics

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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!

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

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Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall

TO: My Students
FROM: Mrs. Culp

Culpzilla's students are amazing! You guys rock!

TO: Everyone
FROM: Pankaj

DFTBA and keep being the exception like the Mongols.

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Covid-19: how bad will it be for the economy? | The Economist

The coronavirus pandemic has killed thousands of people, crashed stockmarkets around the world, driven 10m Americans to claim unemployment and caused businesses to haemorrhage money. With economies are in turmoil, how bad will the damage be?

Sign up to The Economist’s daily newsletter to keep up to date with our latest covid-19 coverage:

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Read our leader on the trade-offs the pandemic are forcing governments to face:

Read our article on rich countries trying radical economic policies to counter covid-19:

Read our leader on how to prevent a covid-19 slump, and protect the recovery:
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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.
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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.


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[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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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

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.

The Ultimate Review Packet


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Economic Systems and Macroeconomics: Crash Course Economics #3

In which Jacob Clifford and Adriene Hill teach you about Economic Systems and Macroeconomics. So, economics is basically about choices. We'll look at some of the broadest economic choices when we talk about the difference between planned economies and market economies. We'll get into communism, socialism, command economies, and capitalism. We'll look at how countries choose the kind of system they're going to use (spoiler alert: many end up with mixed economies). We'll also look into how individuals make economic choices.

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TO: Everyone
FROM: Martin

To gild refined gold is just silly.


TO: Dana
FROM: Cameron

Still holding out. We're going to make it!

Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever:

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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 ailements, 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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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

Elon Musk's Basic Economics

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Why YOU should learn economics!

Why should you learn economics? Put simply, it's becasue it will make you a better decision maker and help you see the unseen. Economics is the study how we deal with scarcity so we can use our resources as efficiently as possible. So whether it's in your personal life or when you run a business or when you promote a government policy, thinking like an economist will help you maximize your own happiness, make the most profit, or help the most people.

I've made a ton of videos to help you learn and practice economics. Feel free to check out the macroeconomics and microeconomics playslist below, as well as, the playlist of some of my favorite videos. Thanks for watching.

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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)

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.

Coronavirus Pandemic: Doctor vs. Economist | The Ben Shapiro Show Sunday Special Ep. 89

Ben goes to the experts on healthcare and the economy to weigh the Coronavirus challenges from both perspectives.
 
He is joined by Dr. Bob Wachter, Professor and Chair of the Department of Medicine at the University of California, San Francisco, Dr. Scott Atlas of the Stanford University Hoover Institution, and Mohamed El-Erian, Chief Economic Advisor to the financial services company, Allianz. They discuss models used by governments determining whether to shut down the economy, the question of balancing economics and public health, when we can finally get back to normal, and much more.
 
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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.

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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 dirty secret of capitalism -- and a new way forward | Nick Hanauer

Visit to get our entire library of TED Talks, subtitles, translations, personalized Talk recommendations and more.

Rising inequality and growing political instability are the direct result of decades of bad economic theory, says entrepreneur Nick Hanauer. In a visionary talk, he dismantles the mantra that greed is good -- an idea he describes as not only morally corrosive, but also scientifically wrong -- and lays out a new theory of economics powered by reciprocity and cooperation.

The TED Talks channel features the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and more. You're welcome to link to or embed these videos, forward them to others and share these ideas with people you know. For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course), please submit a Media Request here:

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What is Economics?

Defining economics in plain terms.

America v China: why the trade war won't end soon | The Economist

America and China are edging closer to signing a deal in the trade war. But that won’t mark the end—the issues at the heart of the conflict will be very difficult to resolve. Read more here:

Click here to subscribe to The Economist on YouTube:

The world’s leading superpowers are locking horns. Over the past 16 months America and China have been trading blows through tariffs on goods. The impact is being felt on industries worldwide. But what is the story behind the America-China trade war?

So the trade war, what have you guys been looking at? The US doesn’t like that China is growing so fast and set to overtake America as the biggest economy in the world if it hasn’t already by certain measures. Basically China and the US are caught in this race of imposing tariffs on each other so the US slaps a high tariff on certain products then China retaliates.

It’s multiple industries across multiple markets, it’s huge. And I think right now would be a really good time to look at what’s happened how it could impact the world from now on.

At The Economist, we’ve been covering the trade war extensively Soumaya Keynes is our trade and globalisation editor based in Washington, DC.

How did this whole trade war kick off? How did this whole trade war start? For a long time there have been frustrations that past American administrations had with the Chinese. On the 2016 presidential campaign trail you started to see some really tough rhetoric.

China’s economic rise has been dramatic. In 1978 China’s GDP at market prices was just 6% of America’s. Last year it had grown to 66%. When considering local spending power China has already overtaken America. This unprecedented growth began with President Deng Xiaoping. He started opening up China’s economy to the world in 1978 and the country quickly became “the world’s factory”. Over the next decade, exports as a share of GDP tripled and by 1988 15% of China’s exports went to America. The World Trade Organisation opened its doors to China in 2001. And it was America that ushered it in.

After joining the WTO, China became an economic superpower. But people had expected the country to also become more like a Western capitalist economy. That didn’t happen. America now claims that China achieved its growth by not playing fair. Are those claims justified?

The Trump administration has been using tariffs or taxes on imported goods to try to force the Chinese to change their ways. In July 2018 America imposed tariffs of 25% on $34bn worth of Chinese products. That almost doubled the average tariff rate on Chinese imports from 3.8% to 6.7%. And it’s American firms that have to pay that tax. But with every increase from America, came an increase from China. Since the start of the trade war China has more than doubled its average tariff rate. America’s has tripled. The fight has become overtly political because China’s tariffs are hitting President Trump’s voter base. Many counties where Trump won in the 2016 election were here in the Great Plains and these are the counties most affected by China’s tariffs.

As things stand now, a ceasefire in the trade war could be drawing near. The two leaders are hoping to agree on a “phase one” deal soon which could mean some tariffs being lifted The Trump administration wants China to buy more American produce and tighten up their intellectual property rules. If that phase one deal is signed will it be the beginning of the end of the trade war?

Even if there is a phase one deal there will be a lot of issues still to be resolved. But there’s more to the trade war than just tariffs. America has also imposed restrictions on some Chinese firms especially ones in the tech industry.

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Class 04 || परिवर्तन BATCH-01 || ECONOMICS || By Sachin Sir || Five Year Plans

Class 04 || परिवर्तन BATCH-01 || ECONOMICS || By Sachin Sir || Five Year Plans

#Parivartan_Batch_01
#Economics
#Sachin_Sir
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60 Second Adventures in Economics (combined)

Ever shaken an invisible hand? Been flattened by a falling market? Or wondered what took the bend out of Phillips' curve? David Mitchell helps reveal some of the great dilemmas faced by governments trying to run an economy - whether to save or spend, control inflation, regulate trade, fix exchange rates, or just leave everyone to get on with it and not intervene. You'll learn why Adam Smith put such a high price on free markets, how Keynes found a bold new way to reduce unemployment, and what economists went on to discover about the impact of policy on people's and businesses' behaviour - which may not always be entirely rational.

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Free learning from The Open University - Economics

Study a free course on Managing my money at the Open University

Study R30 BA (Honours) Economics


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Class 01 || परिवर्तन BATCH-01 || ECONOMICS || By Sachin Sir || अर्थशास्त्र:परिचय, प्रकार,क्षेत्र

Class 01 || परिवर्तन BATCH-01 || ECONOMICS || By Sachin Sir || अर्थशास्त्र:परिचय, प्रकार,क्षेत्र

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*U.P. special*
1. UPSI
2. UPP
3. UP लेखपाल
4. Junior assistant
5. UPSSSC PET
6. UPSSSC VDO

*Railway*
7. RRB NTPC
8. RRC GROUP D

*SSC*
9. SSC CGL Pre
10. SSC CPO Pre
11. SSC CHSL Pre
12. SSC STENO
13. SSC MTS

*UPSC*
14. EPFO
15. CDS-2
16. CAPF

*Defence*
17. Airforce XY
18. NDA
19. AFCAT
20. Navy SSR/ AA/ MR
21. DRDO Mts

*Delhi Police*
22. Delhi Police Constable
23. Delhi Police Head constable

*Teaching*
24. UP TET
25. CTET
26. SUPER TET
27. UP B.ed

*Others*
28. Raj.Police
29.Raj. SI
30. Raj. High Court
31. Bihar Constable
32. Bihar SI
33. Course on Computer Concept
34. Spoken English

Q.3 Validity?
Ans. सारे courses activate रहेंगे Exams होने तक

Q.4 यह offer कब तक valid है ?
Ans. यह offer सिर्फ *31 March तक valid है* उसके बाद ये सारे Courses Individual Buy करने के लिए available रहेंगे।
31 March से पहले मात्र 1100 में सारे courses एक साथ मिलेंगे

Q.5 Course में क्या मिलेगा ?
Ans. *Examपुर expert faculty द्वारा live क्लासेज*
* *Pdfs/नोट्स*
* *Doubt क्लासेज*
* *Career counseling*
* *Video डाउनलोड option*
* *PDF प्रिंट निकल सकते है*

Q.6 Class कबसे start होंगी ?
Ans. अधिकतम क्लासेज 2 April से

Q.7 Timetable कब आएगा?
Ans. 28th March को

Q.8 एक कोर्स मिलेगा या सब?
Ans. मात्र 1100/- में सभी 34 Courses मिलेंगे. Offer Limited Time के लिए है।

Q.9 पुराने Courses का क्या होगा ?
Ans. आपके पुराने Courses चलते रहेंगे, परिवर्तन batch एकदम नए कोर्सेज है। क्लासेज जीरो से start की जाएंगी

Q.10 Content Quality.
Ans. सभी 34 courses में क्लासेज Examपुर की Best Faculties के द्वारा दी जाएंगी। ऐसा content जिसे पढ़कर आप Exams आसानी से Crack कर पाएंगे।

Q.11 परिवर्तन Batch 2020 कैसे ले ?
Ans. **Google Playstore से Exampur Official Application को Download करे*
* *Paid Courses में जाकर परिवर्तन Batch 2020 पर Click करे*
* *Buy Now पर click करे*
* *Aap Paytm से payment कर सकते हैं या फिर अपने Debit Card से Payment कर सकते हैं।*
* *Payment करने के बाद Paid Courses में जाकर My Courses में आपको अपनी क्लासेज मिल जाएंगी*

Q.12 कहा संपर्क करे ?
Ans. किसी भी तरह की शंका में 9873111552 पर Call करे या 8882546152 पर whatsapp करे।

Q.13 क्लासेज Live होंगी या Recorded
Ans. सारि क्लासेज Live प्रोवाइड की जाएंगी

Q.14 अगर Live क्लास मिस हो जाती है तो क्या Classes बाद में देख सकते है क्या ?
Ans. हाँ, classes बाद में भी देखी जा सकती है, आप क्लासेज Download भी कर सकते हैं।

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