This video is very helpful in understanding the Ricardian Model, I have a learning disability and learning from my professor in class is very confusing and I felt unsure if I will do well on my exam next week. But the way Bill explains the model in this video makes me feel confident I will do well on my exam.
Really nice. My German Uni in Marburg just linked this video for their online modul in international economics. So our tax paid professors do not need to develop their own lectures if they just take lectures for free from youtube...
You are amazing sir! You explained quite a challenging topic in a very lucid way. You are an exemplary teacher to many many professors in the world. God Bless you!!!
I highly recommend this channel to economics students around the world. All the videos are just amazing and explanations are excellent. Thanks for sharing this video with us!!
once you learn to writte that way it becomes to be super easy, I know how to do and it and it's kinda fun for me. Any way, maybe as you said the video is flipped :)
4 года назад+10
they flipped it, you can see from his wedding ring, which normally is worn on the left hand. In the video it's on his right hand ;)
Beginning around 49: 45, he interchanged the 60 bushels of wheat for production and 100 for consumption. So instead of exporting, home country should have been importing 60 bushels of wheat.
since the graph has Qc on y-axis and Qw on the x-axis, I'm wondering if the slopes taken for the PPF should be [ Pw / Pc = 2/3] or [ Pc / Pw = 3/2] ? Could someone help me out with this please?
Same here. Why is that slope negative? Isn't the price of one good positively related to another one (according to MPLc·Pc=MPLw·Pw)? Would appreciate it a lot if someone could explain :)
This model is very simple and only try to give one explanation of why a country trade when they it not have absolute advantage in technology. This model is also super old and was pretty much proven wrong. In my opinion, we should only teach that in history book. To answer to your question, in reality peoples do move. But their is some constraint or risks associated with moving, so you need a substantial advantage to do it. It's easy to observe migration from country side to urban area for example. But it also append between country. Keep in mind that capital is often easier to move between country at the moment (because of immigration law for example). So instead of people moving, a international corporation can sometimes move the technology where wage are lower (and by doing that make the wage higher in the long run, but their is a lot of other factors).
Only bad thing is at around 1:09:10 where you write 4*2/3 = 2 2/3. Nobody uses that kind of thing at university levels, is prone for misunderstandings and its better just put 8/3, its overcomplicate things for students. Just an advice!
@@uliliulili This is actually better to mention 2 & 2/3 because it serves a better comparison than 8/3, unless we state before that 2 = 6/3. I mean, this was very intuitive, Idk why GoJMe complains about basics... are you telling me university students in the fields of economy can't handle fractions?
You sir have single-handedly helped me pass my ITT course thanks to your videos. I will gladly recommend your channel to my fellowship !
This video is very helpful in understanding the Ricardian Model, I have a learning disability and learning from my professor in class is very confusing and I felt unsure if I will do well on my exam next week. But the way Bill explains the model in this video makes me feel confident I will do well on my exam.
Really nice. My German Uni in Marburg just linked this video for their online modul in international economics. So our tax paid professors do not need to develop their own lectures if they just take lectures for free from youtube...
Passed the class thanks to your lectures, you are a god among men.
You are amazing sir! You explained quite a challenging topic in a very lucid way. You are an exemplary teacher to many many professors in the world. God Bless you!!!
you have saved my life. i truly love you
best explanation I´ve ever heard. I could not understand anything my teacher said in class but this saved my life. Thank you so much.
I highly recommend this channel to economics students around the world. All the videos are just amazing and explanations are excellent. Thanks for sharing this video with us!!
hello. I know you've listened to this hundreds of times. But you helped me a lot, thank you.
What a fantastic lecturer
sir your teaching simply amazing and out of this world
This dude really writing all of this perfectly in reverse? Please tell me they just flipped the video for this poor man
once you learn to writte that way it becomes to be super easy, I know how to do and it and it's kinda fun for me. Any way, maybe as you said the video is flipped :)
they flipped it, you can see from his wedding ring, which normally is worn on the left hand. In the video it's on his right hand ;)
@ yes but in another video, he wears his watch on the left hand, or maybe he puts his watch on the right hand in express to flip the video?
Instablaster.
We live in a simulation that s the only explanation
Made me a life-long Cleveland State fan.
Very elegantly explained, thanks a lot prof!
this video helps my final!!!!!!!!!!!!!! thank you so much professor!!!!!!!!!!!!!!
man you are the best
The line drawn @5:59 is robot level good.
Thank you so much! your video are so helpful!
a real talent! so fantastic explanations! thank you, sir!
Perfect presentation of the Ricardian Model.
Thank you very much ))) preparing for an exam))
Great teacher!
Thank you for the hard work! It helped me a lot!!!
Thank u so much. U literally saved my life. U r a God. So many thanks
Thank you so much for this!
Better explanation.. really it was a great help for me ..! !!.... thank you so much...
Beginning around 49: 45, he interchanged the 60 bushels of wheat for production and 100 for consumption. So instead of exporting, home country should have been importing 60 bushels of wheat.
Well explained. Thank you.
Thanks for this video! it's helping me very much for my exam :))))
Really would love to see chapter 3 & 4
very clear explanation
Professor, in part 3 of the lecture, does Pw/Pc represent the relative price of wheat in relation to cloth?
thank you very much!
cimer poto tu m'as mis bien
since the graph has Qc on y-axis and Qw on the x-axis, I'm wondering if the slopes taken for the PPF should be [ Pw / Pc = 2/3] or [ Pc / Pw = 3/2] ? Could someone help me out with this please?
I really want to see multiple countries with very difficult numbers
Thanks
Better than the B-word
I don’t understand how the slope of the price is negative two thirds....
I think I got lost
Just assume the price of the world
Negative because the slope is going down it doesnt indicate anything else aside from that
Same here. Why is that slope negative? Isn't the price of one good positively related to another one (according to MPLc·Pc=MPLw·Pw)? Would appreciate it a lot if someone could explain :)
how did he find 40 to 40 while the slope of the line he draw is 2/3? at the minute 48:44
JØ
Instead of trading, why don't all the laborers move from foreign to home?
This model is very simple and only try to give one explanation of why a country trade when they it not have absolute advantage in technology. This model is also super old and was pretty much proven wrong. In my opinion, we should only teach that in history book.
To answer to your question, in reality peoples do move. But their is some constraint or risks associated with moving, so you need a substantial advantage to do it. It's easy to observe migration from country side to urban area for example. But it also append between country. Keep in mind that capital is often easier to move between country at the moment (because of immigration law for example). So instead of people moving, a international corporation can sometimes move the technology where wage are lower (and by doing that make the wage higher in the long run, but their is a lot of other factors).
Only bad thing is at around 1:09:10 where you write 4*2/3 = 2 2/3. Nobody uses that kind of thing at university levels, is prone for misunderstandings and its better just put 8/3, its overcomplicate things for students. Just an advice!
There are much more complicated things to deal when graduating. Dealing with this kind of stuff and being flexible is rather healthy in my opinion.
@@uliliulili This is actually better to mention 2 & 2/3 because it serves a better comparison than 8/3, unless we state before that 2 = 6/3. I mean, this was very intuitive, Idk why GoJMe complains about basics... are you telling me university students in the fields of economy can't handle fractions?
You