Microeconomics- Everything You Need to Know
2,957,690
Published 2017-05-03
www.ultimatereviewpacket.com/
In this video, I cover all the concepts for an introductory microeconomics course and AP course. I go super fast so don't take notes. Focus on the big picture ideas, identify what you still need to practice, and go back and watch my Unit Summary videos.
If you like my videos please get the Ultimate Review Packet. It is the best way to say thank you. It is awesome and it's only $10. Here is the link: www.acdcecon.com/#!review-packet/czji
I cover scarcity, opportunity costs, the PPC, comparative advantage, demand, supply, ceilings, floors, shifts, elasticity, taxes, consumer surplus, consumer choice, costs of production, perfect competition, monopolies, oligopolies, monopolistic competition, labor markets and firms, monopsonies, public goods, externalities, and the Lorenz curve. Wow! That's a lot. Get ready. Here we go!!!!!!!!!!!!!
Thank you to Austin for organizing the following:
Unit 1
1:00 Basics
1:13 PPC
2:17 Absolute & Comparative Advantage
3:07 Circular Flow Model
Unit 2
4:04 Demand & Supply
5:26 Substitutes & Compliments
5:36 Normal & Inferior Goods
5:46 Elasticity
7:35 Consumer & Producer Surplus
7:52 Price Controls, Ceilings & Floors
8:37 Trade
9:08 Taxes
9:56 Maximizing Utility
Unit 3
11:03 Production, Inputs & Outputs
11:16 Law of Diminishing Marginal Returns
11:36 Costs of Production
13:00 Economies of Scale
13:37 Perfect Competition
14:25 Profit-Maximizing Rule, MR=MC
15:20 Shut down Rule
16:05 Accounting & Economic Profit
16:30 Short-Run, Long-Run
16:56 Productive & Allocative Efficiency
Unit 4
18:02 Monopoly
18:53 Natural Monopoly
20:01 Price Discrimination
20:22 Oligopoly
20:31 Game Theory
20:42 Monopolistic Competition
Unit 5
21:51 Derived Demand
22:07 Minimum Wage
22:19 MRP & MRC
22:52 Labor Market
23:30 Monopsony
24:05 Least-Cost Rule
Unit 6
25:11 Market Failures
25:27 Public Goods
26:00 Externalities
27:21 Lorenz Curve
27:44 Gini Coefficient
27:53 Types of Taxes
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All Comments (21)
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U1 1:00 Basics 1:13 PPC 2:17 Absolute & Comparative Advantage 3:07 Circular Flow Model U2 4:04 Demand & Supply 5:26 Substitutes & Compliments 5:36 Normal & Inferior Goods 5:46 Elasticity 7:35 Consumer & Producer Surplus 7:52 Price Controls (Ceilings & Floors) 8:37 Trade 9:08 Taxes 9:56 Maximizing Utility U3 11:03 Production (Inputs & Outputs) 11:16 Law of Diminishing Marginal Returns 11:36 Costs of Production 13:00 Economies of Scale 13:37 Perfect Competition 14:25 Profit-Maximizing Rule (MR=MC) 15:20 Shut down Rule 16:05 Accounting & Economic Profit 16:30 Short-Run --> Long-Run 16:56 Productive & Allocative Efficiency U4 18:02 Monopoly 18:53 Natural Monopoly 20:01 Price Discrimination 20:22 Oligopoly 20:31 Game Theory 20:42 Monopolistic Competition U5 21:51 Derived Demand 22:07 Minimum Wage 22:19 MRP & MRC 22:52 Labor Market 23:30 Monopsony 24:05 Least-Cost Rule U6 25:11 Market Failures 25:27 Public Goods 26:00 Externalities 27:21 Lorenz Curve 27:44 Gini Coefficient 27:53 Types of Taxes i have no life.
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You've taught me more in 28 minutes than my teacher has in an entire semester. I can't thank you enough Mr. Clifford. You rock!!
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This should be #1 trending rn
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Good luck to everyone taking the test tomorrow, may the force be with us all!!!
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anybody else watching this the night before the exam?
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this video gets seasonal views every may lololol
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Yeah.... 2021 test takers good luck tomorrow. Also go to sleep, i know it's late. You need the sleep. You're going to do great.
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It’s that time boys
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What did you think? Was it helpful? Do you want me to make a macro version?
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I think it's safe too say, Mr. Clifford is a legend.
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that time of the year again, this video is about to do crazy numbers
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the BEST econ teacher on the internet, maybe ever
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watching this the morning of the exam. this man carried my grade all year long (i ended wit a 104%) (buy the ultimate review packet)
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Anyone else here in 2020 because online learning has failed you?
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Just a review eh? Nah I’m learning all this now ;)
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Macro Cramming Was 2 days ago Micro Cramming Is Now You are a god!!!
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Your review packet is a positive externality
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I am now realizing how little I've learned in my econ class this year...
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anyone watching this the night before the exam? (good luck to everyone taking it)
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Honestly this was more helpful in understanding the material than a whole semester of classes.
