I have seen the whole Solow model series and i have to say that it amazes me how you could achieve in 50 minutes or less what my fuc*ing dumb ass collage's teacher couldn't in a 4 hours. It amazes me even more how he become a teacher and how did he get his PhD in first place! Anyway explaining this complex model in a simple and efficient way to a filthy peasant like me is a work of a genius. Thank u very much you definitely deserve the subscribe. I hope really that u could do an explaining series of the micro economy.
If two economies A and B are identical in every respect except that Sa>Sb and Na>Nb. What will happen to them in the long run?will A have higher steady state output per unit of effective labor than B?
it depends. you can think of this as starting with country A and then changing two things and seeing what happens. the problem is that when you change two things at once they might push in opposite directions so it gets confusing. An example you might be familiar with is "if S increased and D increased what happens to the price?" and the answer is "who knows?" So it helps to analyze each in turn. what would the change in s do? what would the change in n do? do they offset or reinforce? if they offset you have to be more specific -- how big is the s difference, how big is the n difference?
@@stevewhite1110 actually, we don't need to change anything... just need to explain what will be the difference between these two countries... I'm not getting it how to explain it with equations...can you help?
@@sanjidasan6556 I think you should watch some videos on the concept of "comparative statics." That seems to be what you are struggling with. Keep at it and you can figure it out.
I have seen the whole Solow model series and i have to say that it amazes me how you could achieve in 50 minutes or less what my fuc*ing dumb ass collage's teacher couldn't in a 4 hours.
It amazes me even more how he become a teacher and how did he get his PhD in first place!
Anyway explaining this complex model in a simple and efficient way to a filthy peasant like me is a work of a genius. Thank u very much you definitely deserve the subscribe.
I hope really that u could do an explaining series of the micro economy.
Fantastic video series, deserves 100x the views!
Well and simply explained.Kudos
Excellent explanation! Thank you!
Struggling with the review for my economic growth exam. My prof is not even close to this lollllll. Amazing explanation!!!
You are a hero :)
If two economies A and B are identical in every respect except that Sa>Sb and Na>Nb. What will happen to them in the long run?will A have higher steady state output per unit of effective labor than B?
it depends. you can think of this as starting with country A and then changing two things and seeing what happens. the problem is that when you change two things at once they might push in opposite directions so it gets confusing. An example you might be familiar with is "if S increased and D increased what happens to the price?" and the answer is "who knows?" So it helps to analyze each in turn. what would the change in s do? what would the change in n do? do they offset or reinforce? if they offset you have to be more specific -- how big is the s difference, how big is the n difference?
@@stevewhite1110 actually, we don't need to change anything... just need to explain what will be the difference between these two countries... I'm not getting it how to explain it with equations...can you help?
@@sanjidasan6556 I think you should watch some videos on the concept of "comparative statics." That seems to be what you are struggling with. Keep at it and you can figure it out.
what's the formula of efficiency given technology growth rate