Hi, Dr. Mitchell, you have a lot of real life examples to illustrate the economics theories. Its really helpful for students to understand difficult knowledge by your simple ways of explanations! good! And its free lectures!
Very good basics were explained in a very good way with backstory. Excellent presentation of the problems and how economics is going to help it. Loved the video.
Actually, he comes from an economist point of view. He said that majority don’t read a text book anyway, why waste money? If you can get one for pennies.
I see a lot of criticism in the comments for no reasons. Some failed to understand. Some were judgemental way to quickly towards his way of teaching. And some were judgemental of the looks and characteristic of professor (it is a philosophical fallacy to criticize something by arguing against the person presenting it.)
If that were the case, that people are smart on their own. The founding fathers wouldn't have created the electoral college. "If people were angels, no government would be necessary."
No, goods and services are not defined by an individual (you or your wife). If your wife doesn’t like pizza, that doesn’t make it a “bad”. Her demand for pizza will just not exist.
Please tell me the 90s sitcom bumper music on the title card is tongue in cheek! Bravo if it is. If not, still a brilliant choice, just means the editor has an intuitive sense of irony :) ❤️
Can't there be a co-existence of both approaches (positive and normative)? Isn't it obvious that sometimes we have to make value judgements? Otherwise how can you separate economic goods from economic bads without making any value judgement?
Dear friends, I have a question: 1 / For countries with a competitive advantage, labor is cheap. Currently, labor costs increase and cost of living increases, how can the country continue to attract foreign investment (FDI) and maintain GDP growth from 10 to 15% per year?
as we can see with the china the same thing is happening, the labor is not so cheap anymore 1. the govt tries to acquire the raw products at a cheap price, so the price of final product does not increse that much, with the expansion policy govt acquires more land hence acquiring more resource as well. 2.2nd would be ofcourse investing heavily on science and tech.
This is what I think some colleges are just a fast waste of time and money. People need to learn how to think, not just get a student loan to sit through the classes. No for me.
Resorts goods services stimulus money friend funds fund founded foundation foundation funded from market John Nash theory was Right on the field of macro economics
@@lordhelmit1499 Exactly!! Why would one stop watching a video where the professor clearly distinguishes "legend/rumor/myth" with the rest of his material by literally mentioning it. It just shows how reliable his work is, as he's is describing everything that's the science of economics and separates the legend. Which makes it trustworthy.... Some people have a psychological tendency to believe people who don't mention the words "legend" but still go over lots and lots of unfounded things. Yet trustworthy true things when separated by the presenter is untrustworthy? LOL.... That's why one needs to be a thinker, and a critical thinker to not judge something off badly too quickly before even looking into (in proper ways).
Natural resources are NOT LIMITED ! Goods and services are NOT LIMITED ! Everyone has clothes and lives in a housing, everyone has a everything they need in the house (fridge, stove, furniture, etc), and there are a lot of more of them in the stores. And we can even produce more services and goods. The problem in the world is the chronic lack of money, both for the people and the countries, all are in debts up to their eyeballs. In fact we do not even have an economy around the world. What we have is chrematistics. The real economy is Nonprofit Resource Based Economy created by Dmitry Bonch - google it. ... And how we can eliminate the scarcity if it exists must be decided by science and technology, not by the economists. The job of the economists is how to make the rich richer and keep the poor in check so that they would not protest too much.
Economics *is* the science and study of making the most of what is available. What is produced, in what combination, and in how much quantity is it produced, and how to get the most output for the less cost. It's explained by this practical science. The money, is necessary so you *can* give a certain value to your products depending on how hard it is to produce, what was the cost and what materials were used, and how much was the production output and how much of the product is needed by a others etc. To enable good trade money is needed as units of value for the product *determined by the demand and supply of it* and different factors that are in play. Everything you said, every issue is covered and every problem is solved in economics, you're criticizing it without understanding it or studying it.... Again price isn't determined by economists, that's a false presumption, and it's automatically determined in fully competitive market other where people (producers) can make more and sell it for cheap, that isn't possible if the thing is rare, and if it's necessary, then people have to pay high price for it, otherwise how are you going to meet and distribute the small amount of necessary things you have in this case. At the same time, if something else, even of no necessity, is selling (because people have the propensity to consume and spend money to attain it and does so) then the sellers don't lower the price even if they have lots of the same thing. (this is a problem but again in fully competitive market, for selling more with small profit margin, another producer is going to rise, and sell more eventually because people would buy the same thing from a cheaper producer and with sales lowered the first producers would have no other choice to price the product down to meet the competition).... 1) If resources are "NOT LIMITED" people won't need to spend anything as it is not necessary if you can get it. If it is then your theory falls apart. If everything is available, no one would work for it and get paid and pay for products..... Economics LITERALLY IS the science of understanding how we humans live our lives better with limited resources... Remember you wouldn't have to pay a high price for a necessary thing that is less produced. Ask them why do they cost more. No one would buy anything if everything was available for a cheaper price or free. All the furniture, housing, fridges you mentioned are produced which also needed materials which were also produced and to get it one had to pay for it, the money which that person attained by producing something or by giving service....
You should try and get into a better school in India. Many top professors at MIT and even the Dean of Harvard Business School have all studied in India to build a strong foundation. Students who can't get into top IIMs go to Harvard MIT. Or for a second Masters after IIMs IITs etc
Education is moving toward free online videos.
"if you're broker knew what stock to buy he wouldn't be working" - This guy is awesome!!!!! Love it.
His explanation is very accurate and clear. Mimics and the gestures also keep you away during class. Wow, good teacher for economics.
Am back to share that I passed my intro econs paper with these videos. Cheers to PROF!
Hi, Dr. Mitchell, you have a lot of real life examples to illustrate the economics theories. Its really helpful for students to understand difficult knowledge by your simple ways of explanations! good! And its free lectures!
The guy makes it understandable... That's all he has to do
Very good basics were explained in a very good way with backstory.
Excellent presentation of the problems and how economics is going to help it.
Loved the video.
Thank you so much for recording your lessons, this is going to help me on my exam so much
8:30 such a clear and honest answer👍
Actually, he comes from an economist point of view. He said that majority don’t read a text book anyway, why waste money? If you can get one for pennies.
Completely agree. I bought 2 expensive books before pandemic and haven't opened a Page yet. And I can get those in E-Books for free.
I see a lot of criticism in the comments for no reasons. Some failed to understand. Some were judgemental way to quickly towards his way of teaching. And some were judgemental of the looks and characteristic of professor (it is a philosophical fallacy to criticize something by arguing against the person presenting it.)
Absolutely fantastic
I like this guy. Very well explained.
33:22 class starts after syllabus
thanks
Thank u
thanks lord
Wait ... he cussed?!!!
😂😂😂 thank you
“It’s your parents money, I could care less” LOOOL
Thanks Missouri State for macroeconomics course. There is no lecture from other universities on youtube.
thank you MSU
Great stuff
Thanks, Prof, I really appreciate your class ❤
If that were the case, that people are smart on their own. The founding fathers wouldn't have created the electoral college. "If people were angels, no government would be necessary."
Thank you for the video. It was so helpful and easy for me to understand!
Well explained sir.
No, goods and services are not defined by an individual (you or your wife).
If your wife doesn’t like pizza, that doesn’t make it a “bad”.
Her demand for pizza will just not exist.
awesome
yh very good and simple lecture
Solving economics is visibility of vision Unity
Excellent. Thank you
Please tell me the 90s sitcom bumper music on the title card is tongue in cheek! Bravo if it is. If not, still a brilliant choice, just means the editor has an intuitive sense of irony :) ❤️
Experts cost big cost big macro economics
Thank you sir
This guy can write a good economics movie script.
banger intro. perfect intro for economics👍
idk why y'all tripping I'd take this professors class.
Books "Wealth of Nation " by Adam Smith
Can't there be a co-existence of both approaches (positive and normative)? Isn't it obvious that sometimes we have to make value judgements? Otherwise how can you separate economic goods from economic bads without making any value judgement?
spreading knowledge thanks Missouri
Okay he started as Ned Flanders, i like him already!
intro reminds me of the bold and the beautiful
Dear friends,
I have a question:
1 / For countries with a competitive advantage, labor is cheap. Currently, labor costs increase and cost of living increases, how can the country continue to attract foreign investment (FDI) and maintain GDP growth from 10 to 15% per year?
as we can see with the china the same thing is happening, the labor is not so cheap anymore
1. the govt tries to acquire the raw products at a cheap price, so the price of final product does not increse that much, with the expansion policy govt acquires more land hence acquiring more resource as well.
2.2nd would be ofcourse investing heavily on science and tech.
No, leisure time is not a good. Goods and services are produced.
Leisure time is the period of time in which you’re not working.
This is what I think some colleges are just a fast waste of time and money. People need to learn how to think, not just get a student loan to sit through the classes. No for me.
Who dislike? Good explanations.. I'm teacher..
Someone that doesn’t like macroeconomics lol
He wasn't kidding when he said his handwriting is bad. Good lecture though 👍
Wow
What are the assigned textbooks and materials for this course?
CP Campbell he doesnt mean I dont get Black good I wanted them from the beginning tooth and Root square and times three
The camera just swings around and around, that's annoying.
super grumpy professor
loved his explanation
Hello professor could you fix two macro questions please
sir pls control your cholesterol, we need more lectures
Dissed us blacks with the increasing minimum wage equals more black males employed.
Multiple times one side by three one side by one
Thank you Dr.
0:19
1:16
1:24
.
8:00
SIR GOOD AFTERNOOMICNRO ECONOMICS BOOKS AND ALL ECONOMICS BOOKS
Black prints or blue print no other prominent printable no no Yes Yes please Black good for EC economics
This guy won't get diabetics (idk exactly.. Someone told walking is the best way to reduce sugar level in the body)
I would call him laid back for sure :-D. Do you work or don't I suppose LOL.
Resorts goods services stimulus money friend funds fund founded foundation foundation funded from market John Nash theory was Right on the field of macro economics
Таааак, зачем там карта России?
BUY CHICKPEAS SELL GOLD!
😂😂
Why is he angry all the time? Does too much peperoni do that to you? ))))
I stopped watching after 1:59
Sompisi Phinda me too!
Why?
@@lordhelmit1499 Exactly!! Why would one stop watching a video where the professor clearly distinguishes "legend/rumor/myth" with the rest of his material by literally mentioning it. It just shows how reliable his work is, as he's is describing everything that's the science of economics and separates the legend. Which makes it trustworthy....
Some people have a psychological tendency to believe people who don't mention the words "legend" but still go over lots and lots of unfounded things. Yet trustworthy true things when separated by the presenter is untrustworthy? LOL....
That's why one needs to be a thinker, and a critical thinker to not judge something off badly too quickly before even looking into (in proper ways).
your loss!
Ain't no socialist here.
Very unprofessional.....and very boring.....
professor makes watching this unbearable
Natural resources are NOT LIMITED ! Goods and services are NOT LIMITED ! Everyone has clothes and lives in a housing, everyone has a everything they need in the house (fridge, stove, furniture, etc), and there are a lot of more of them in the stores. And we can even produce more services and goods. The problem in the world is the chronic lack of money, both for the people and the countries, all are in debts up to their eyeballs. In fact we do not even have an economy around the world. What we have is chrematistics. The real economy is Nonprofit Resource Based Economy created by Dmitry Bonch - google it. ... And how we can eliminate the scarcity if it exists must be decided by science and technology, not by the economists. The job of the economists is how to make the rich richer and keep the poor in check so that they would not protest too much.
Economics *is* the science and study of making the most of what is available.
What is produced, in what combination, and in how much quantity is it produced, and how to get the most output for the less cost. It's explained by this practical science.
The money, is necessary so you *can* give a certain value to your products depending on how hard it is to produce, what was the cost and what materials were used, and how much was the production output and how much of the product is needed by a others etc.
To enable good trade money is needed as units of value for the product *determined by the demand and supply of it* and different factors that are in play.
Everything you said, every issue is covered and every problem is solved in economics, you're criticizing it without understanding it or studying it....
Again price isn't determined by economists, that's a false presumption, and it's automatically determined in fully competitive market other where people (producers) can make more and sell it for cheap, that isn't possible if the thing is rare, and if it's necessary, then people have to pay high price for it, otherwise how are you going to meet and distribute the small amount of necessary things you have in this case. At the same time, if something else, even of no necessity, is selling (because people have the propensity to consume and spend money to attain it and does so) then the sellers don't lower the price even if they have lots of the same thing. (this is a problem but again in fully competitive market, for selling more with small profit margin, another producer is going to rise, and sell more eventually because people would buy the same thing from a cheaper producer and with sales lowered the first producers would have no other choice to price the product down to meet the competition)....
1) If resources are "NOT LIMITED" people won't need to spend anything as it is not necessary if you can get it.
If it is then your theory falls apart. If everything is available, no one would work for it and get paid and pay for products.....
Economics LITERALLY IS the science of understanding how we humans live our lives better with limited resources...
Remember you wouldn't have to pay a high price for a necessary thing that is less produced. Ask them why do they cost more. No one would buy anything if everything was available for a cheaper price or free. All the furniture, housing, fridges you mentioned are produced which also needed materials which were also produced and to get it one had to pay for it, the money which that person attained by producing something or by giving service....
Deranged much?
This professor isn't professional. Either he is fooling the class or realistic. MSU needs to terminate him, immediately.
I am from India...... What I am Seeing is the difference between education level of countries
Feeling sad for my countrymen.......
You should try and get into a better school in India. Many top professors at MIT and even the Dean of Harvard Business School have all studied in India to build a strong foundation. Students who can't get into top IIMs go to Harvard MIT. Or for a second Masters after IIMs IITs etc
@@vishwas1868 self obsessed 🥱