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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!

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DFTBA and keep being the exception like the Mongols.

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What is Economics?

We hope you are enjoying this video! For more in-depth learning, check out Miacademy.co, an online learning platform with lessons and practice games that go along with our videos.

In this video, you will learn about the study of resources.

Miacademy also offers many hands-on learning activities including a business simulation, writing in the Miacademy weekly, and creating artwork. Teaching social skills is also one of the key values at Miacademy. On the site, kids can interact safely in a moderated environment and share their artwork, videos, and ideas with each other.

Homeschoolers, Parents, Teachers, or anyone with kids in grades K-8, check out and use coupon code VIDEOSPECIAL for a discount
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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

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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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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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1. Introduction and Supply & Demand

MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course:
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In this video, Prof. Gruber discusses the details of the course, what microeconomics is, and the concept of supply and demand.

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How is Transitory Inflation Going?

Inflation is no longer transitory, but is it here to stay?

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#Economics #Inflation #Unemployment

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Elon Musk's Basic Economics

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Is higher inflation cause for concern? | The Economist

Inflation rates have been rising all over the world, surprising many economists. While the rich world is paying higher prices for durable goods such as cars, in emerging markets soaring food prices are a greater worry. What is causing this unexpected bout of inflation, and will it last?

00:00 - What’s happening with inflation?
00:53 - What is inflation?
01:42 - Inflation rates are rising
02:47 - How much is too much inflation?
03:13 - Inflation in the rich world
05:19 - Inflation in emerging markets
06:04 - How to curb inflation
07:27 - Why you shouldn’t worry

Find The Economist’s briefing on inflation:

Read about the world economy’s shortage problem:

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Is the world economy going back to the 1970s?

The role used-car sales are having on US inflation:

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MIT Has Predicted that Society Will Collapse in 2040

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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)

Is An Economics Degree Worth It?

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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:
bls.gov(bureau of labor statistics)
nces.ed.gov(national center for educational statistics)
payscale(provides information on jobs and degrees)

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.

Macro Playlist-
Micro Playlist-
Favorite Videos-

Chapter 1: Ten Principles of Economics

What is economics? 0:38
People face tradeoffs 10:45
The cost of something is what you give up to get it 14:16
- Opportunity cost 15:43
People respond to incentives 21:48
- Types of incentives 22:53
People think at the margin 35:28
Trade can make everyone better off 43:22
Markets are usually the best way to organize economic activity 46:33
Sometimes government can improve the market outcome 49:12
A country's standard of living 50:30
Printing too much money creates inflation 51:46
Inflation vs unemployment 52:17

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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Freshman Economics 8, Consumer theory, unit 3 part 1, tutorial in Amharic

Introduction to economics 8, cardinal utility theory, Tutorial in Amharic, Ethiopia.
Other Economics Videos:

Are Economists Too Pessimistic?

Economists have predicted 15 of the past 5 recessions, so should we take them seriously?
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Yanis Varoufakis: From an Economics without Capitalism to Markets without Capitalism | DiEM25

A lecture organised by University of Tübingen economics students, delivered on Monday February 3, 2020, on the theme From an Economics without Capitalism to Markets without Capitalism.

Mainstream economic models lack some important features of really-existing capitalism, including money, time and space. Its models offer ideological cover for a capitalist system that has usurped competitive, free markets.

The result? Unbearable inequality, climate catastrophe and permanent stagnation. A fork on the road is approaching: It will take us either into deeper stagnation and environmental degradation or to a society with markets but no capitalism. Prof. Yanis Varoufakis talks about the future of our economy and the current state of economics with special regard to pluralism in economics.

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Adam Smith: The Grandfather Of Economics

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This is Adam Smith. Adam Smith was a Scottish philosopher and author who is probably best known for writing a book titled “An Inquiry Into the Nature and Causes of … The Wealth of Nations!”

This book effectively marked the beginning of economics as an academic discipline as Adam Amith, (now heralded as the father of economics) laid the foundation for economic rules and principles that guide decision making the world over.

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???? If you want to learn more about this topic, be sure to check out the book The Wealth of Nations by Adam Smith ???? (note: as an Amazon associate, EE earns from qualifying purchases. Thanks for supporting our show!)

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Support EE by becoming a Patron today! ????

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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.

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