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Tactical Economics
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Добавлен 31 авг 2020
Tactical Economics is a source for instructional videos and tutorials in Microeconomics and Macroeconomics.
The Bathtub Model of Unemployment | Intermediate Macroeconomics
Labor market dynamics are important in understanding business cycle fluctuations. In this video, I discuss the cleverly-named Bathtub model of unemployment. This model relates fluctuations in unemployment to inflows and outflows in the labor market.
0:00 - Introduction
0:20 - The Bathtub Analogy
1:04 - Describing the Model
6:37 - The Flow-Consistent Unemployment Rate
0:00 - Introduction
0:20 - The Bathtub Analogy
1:04 - Describing the Model
6:37 - The Flow-Consistent Unemployment Rate
Просмотров: 2 443
Видео
Common Types of Production Functions & Marginal Products | Intermediate Microeconomics
Просмотров 10 тыс.3 года назад
Production functions are one of the most important concepts in neoclassical economics. In this video, I discuss four common production functions, the intuition behind them, and I derive their marginal products. The four types of production functions are Cobb-Douglas, Perfect Substitutes, Perfect Complements, and Constant Elasticity of Substitution (CES). 0:00 - Introduction 0:37 - Preliminaries...
A Firm's Short Run Costs | Intermediate Microeconomics
Просмотров 9943 года назад
This video discusses a firm's short run costs and the associated short run cost function. By using this short run cost function, I derive the firm's average cost function, average variable cost function, average fixed cost function, and marginal cost function. I also present an example of a quadratic cost function and graph all of the relevant cost curves. This video is best-suited for students...
The Budget Constraint | Part 2 | Price and Income Changes | Intermediate Microeconomics
Просмотров 11 тыс.3 года назад
What happens to the budget line when there are changes in prices or income? Chapters: 0:00 - Introduction 0:26 - Review of Budget Line 2:30 - Change in the Price of Good 1 6:18 - Change in the Price of Good 2 8:37 - Change in Income 11:08 - Conclusion, Like & Subscribe
The Budget Constraint | Part 1 | Graphing the Budget Constraint | Intermediate Microeconomics
Просмотров 17 тыс.3 года назад
I introduce the budget constraint and illustrate it graphically in a two-goods example in consumer theory. Chapters: 0:00 - Introduction 0:19 - The Ingredients of a Budget Constraint 2:23 - The Budget Constraint as an Inequality 3:38 - The Budget Line 4:28 - Graphing: The Intercepts 5:51 - Graphing: The Slope 7:10 - The Budget Set 9:03 - What's Next?
Solow Growth Model | Part 5 | Population Growth | Intermediate Macroeconomics
Просмотров 9 тыс.3 года назад
In this video, I discuss the Solow Growth Model with population growth. Specifically, I cover the steady state in per capita variables and the balanced growth path in aggregate variables. The Solow growth model with population growth provides several improvements over the baseline model. In particular, this version of the model actually produces growth in the long run. Chapters: 0:00 - Introduc...
Solow Growth Model | Part 4 | The Golden Rule | Intermediate Macroeconomics
Просмотров 28 тыс.3 года назад
The Golden Rule associated with the Solow Growth Model selects the savings rate that maximizes consumption in a steady state. I discuss this topic in detail and explain how to find the savings rate associated with the Golden Rule. Chapters: 0:00 - What is the Golden Rule? 1:32 - Ruling Out Extreme Cases 5:47 - Finding the Golden Rule Capital 9:18 - Finding the Golden Rule Savings Rate 12:49 - G...
Solow Growth Model | Part 3 | Permanent Shocks | Intermediate Macroeconomics
Просмотров 9 тыс.3 года назад
What happens to the steady state in response to a permanent shock? I discuss this issue in detail with three examples within the baseline Solow Growth Model. Specifically, I address shocks to the Savings rate, Depreciation rate, and Total Factor Productivity (TFP). Chapters 0:00 - Introduction 0:32 - Review of the Steady State 3:39 - A Permanent Increase in Savings 12:30 - A Permanent Decrease ...
Solow Growth Model | Part 2 | Steady State | Intermediate Macroeconomics
Просмотров 21 тыс.3 года назад
In this video, I discuss the steady state associated with a baseline version of the Solow growth model. I begin by defining a steady state, then solve for the steady state values of our endogenous variables capital, output, investment, and consumption (all in per capita terms). Finally, I discuss why a steady state exists in the Solow Growth Model: depreciation in capital and constant returns t...
Solow Growth Model | Part 1 | Model Intro & Solution | Intermediate Macroeconomics
Просмотров 54 тыс.3 года назад
In this video, I introduce a baseline version of the Solow growth model. The baseline model does not account for population growth or technological progress. Chapters 0:00 - Introduction and Rambling 1:17 - Equations of the Solow Model 5:19 - Per Capita Variables and Equations (Useful!) 9:34 - Solution to the model 13:02 - Matlab Simulation There are four primary equations for this version of t...
Perfect Complements | Part 2 | Utility Maximization | Intermediate Microeconomics
Просмотров 1,7 тыс.3 года назад
In this video, I explain the solution to the utility maximization problem when preferences are represented over two goods as perfect complements. I first provide a graphical illustration of the solution, and then analytically derive the demand functions for both goods. Chapters 0:00 - Preliminaries 3:29 - Graphical Solution 8:17 - Analytical Solution 11:09 - Demand Functions
Perfect Complements | Part 1 | Utility Function & Indifference Curves | Intermediate Microeconomics
Просмотров 8 тыс.3 года назад
In this video, I provide an introduction to preferences over perfect complements. Specifically, I cover the utility representation, a few examples, and the indifference curves for perfect complements. Chapters: 0:00 - Introduction 0:35 - Utility Representation 2:32 - Examples 4:55 - Indifference Curves
Perfect Substitutes | Part 2 | Utility Maximization | Intermediate Microeconomics
Просмотров 1,8 тыс.4 года назад
In this video, I explain the solution to the utility maximization problem when preferences are represented over two goods as perfect substitutes. Due to a constant marginal rate of substitution, there are three possible cases to consider. 0:00 - Preliminaries 1:37 - A tale of three cases 3:28 - Case 1: Only Consume Good 1 7:02 - Case 2: Only Consume Good 2 10:18 - Case 3: Indifference 11:53 - D...
Perfect Substitutes | Part 1 | Utility Functions & Indifference Curves | Intermediate Microeconomics
Просмотров 6 тыс.4 года назад
In this video, I provide an introduction to preferences over perfect substitutes. Specifically, I cover the utility representation, a few examples, and the indifference curves for perfect substitutes. 0:00 - Introduction 0:23 - Utility representation 2:30 - Examples of perfect substitutes 4:59 - Indifference curves
Thank you very much, for these insightful detail about the Golden rule. This saves so much time.
Thank you very much
This was extremely helpful as a last resort the night before my exam, thank you!
You explained it so well!! Thank you so much you are a life saver.
The standard equation has (n+d)k, here we have (1-d)k
Thank you so much
I'm failing this midterm lmao it's so over
econ 100b?
@@raphjpm you know it lmao, i just took it that shit was ass
absolutely fantastic guide. I was looking for a video that explains the mathematical actions behind the equations like this one. it was so much easier to process. thanks for the great video you earned the sub.
Thanks a lot !
Great video! I have an exam tomorrow. I wanted to ask why is important for everything to be in per capita terms?
Great video! I have an exam tomorrow. I wanted to ask why is important for everything to be in per capita terms?
Tomorrow I am writing exams on economic growth, you sir helped me a lot. Greetings from Cyprus
You are the best❤
really helpful, thanks!
helpful
when I plug-in the solution for the capital into the solution for the savings rate, lo and behold, the Golden Rule Saving Rate = alpha
Best explanation I've seen so far! Thanks!
I am failing this midterm
That's the spirit!
Thank you so much for your work I'd love to ask what happened to the central equation with kt+1 as y variable and kt as x variable if there is a destruction in the capital (hurricane)?
Thank you!
Thank you sir
You are absolutely excellent! Much better than a professor at the University of Hong Kong.
Hong Kong university student here! Learning in RUclips is much better than attending the lectures.... Spend two hours learning nothing ~_~
I wonder why ur channel is underrated
7:33 why did you not include alpha and beta as part of the numerator?
Nice 😊
sir please upload some numerical problems on solow model too. please sir.
Bless
Thank you so much for this video. This is the best explanation I have seen.
Thx for videos on Solow Growth, really helpful.
This is simply great I saw lots of videos but no one could explain in such a good way. Guys don't leave without subscribing him.
Why is this in my first exam in intro to Macroeconomics? 😭
same
I really would like to see more videos like this and would be appreciated a lot if you solve more extreme examples. However it seems you re not creating any more videos, so can you tell me some books about advanced microeconomic?
Thanks a lotttttt Your videos answered many of my questions.
Thank you for the explanation:)
Excellent presentation
Can't see anything
You try to give the video more brightness it will be great if you do
what would happen to the steady state if the changes in exogenous variables reverted back to it's original value?
اريد هذا الفيديو بالعربي
In the text book I have seen people taking Log both side of the capital accumulation equation. But u dont do that? what is the difference
Super nice video! It clarifies the aspects that my professor went through fluently.
Great video, it definitely helped me a lot
Thank you, this was great!
Cant see anything in the mathlab simulation
thank you, it was so helpful and it makes everything clear <3
Thanks alot 🙏
Well explained sir... thanks for your help 🙏🙏
Thank you for making these. They're really easy to follow and understand. Solow Model sorted, Ramsey Cass to go (^_^)
1. Hybrid Harrod-Domar-Solow Model) An economy has a population of 2 million, current capital stock of $6 billion, and a current GDP of $3 billion. The savings rate is a constant 8% and depreciation rate is 3%. The population growth rate is 0. Its production function is given by, where denotes GDP, denotes capital stock and denotes productivity of capital in year . Capital productivity will remain at its current level until the economy achieves a per capita income of $2000. Between per capita income of $2000 and $3000, capital productivity will be at a constant level, which will be 10% lower than what it is currently, owing to some natural resource (energy) constraints. Between per capita income of $3000 and $4000, capital productivity will also be at a constant level, which will be 10% lower what it would be between per capita income of $2000 and $3000. And so on: for every successive range of per capita income of a thousand dollars, capital productivity will be (constant at a level which is) 10% lower what it was for the previous range. (i) Calculate the current and future growth rates of p.c.i.: how will they differ? (ii) What will the growth rate and level of p.c.i. be in the long run? 2. (Solow Model) Suppose an economy follows the Solow growth model, with a constant investment, depreciation and population growth rate. Predict the effects of the following policy changes in this economy, on p.c.i. levels and growth rates separately, both in the short and long run: (i) There is no TFP growth, and the economy starts from a steady state level of p.c.i. The government withdraws an investment tax credit, which causes the investment rate to fall permanently. (ii) There is no TFP growth, and the economy starts with an initial p.c.i. which is below the steady state level. The economy accommodates an influx of immigrants, which raises its population size in one shot, without affecting the growth rate of population. (iii) There is technical progress, and the economy is in steady state. The government provides a subsidy for R&D which succeeds in inducing a higher rate of TFP growth. How do you solve that
I like how you uploaded your assignment
Hi, could you please show how you did the derivatives part to find the slope of the line -p1/p2
Sure. The budget like I will reference in the methods below is as follows: p1*x1 + p2*x2 = w. Method 1: Write the budget line in slope-intercept form by solving for x2 as a function of x1: x2 = - (p1/p2)*x1 + w/p2 Recall that slope-intercept form for y as a function of x is: y = a*x + b, where a is the slope and b is the intercept. Therefore, the slope of the budget like is -p1/p2. Method 2: Write the budget line as a function F(x1,x2) = 0 and use the Implicit Function Theorem: F(x1,x2) = p1*x1 + p2*x2 - w Now use the Implicit Function Theorem to find the slope dx2/dx1: dx2/dx1 = -(dF/dx1)/(dF/dx2) = -p1/p2 If you're not familiar with the Implicit Function Theorem, I would recommend just sticking with Method 1.
Quality and it will take care of my favorite