Economists Do It With Models

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Videos: Miscellaneous Topics Of Potential Interest…

November 2nd, 2011 · 2 Comments

It just occurred to me today that, although I’ve been good about making new videos, I’ve been bad about posting them here so that readers know that they are available. A lot of people have figured out that they can subscribe to my YouTube channel in order to get updates directly through YouTube, but I wanted to make sure that everyone is kept in the loop. So here’s what’s new:

The Quantity Theory of Money: What is the long-run relationship between changes in the money supply and inflation?

The Quantity Equation Approximation: How does the math in the quantity theory of money work exactly?

The Lorenz Curve: How do economists represent income distribution graphically?

The Gini Coefficient: How can income inequality be represented by a single statistic?

Introduction to Welfare Analysis: How do economists measure how much value markets create for society?

The Fisher Effect: What is the relationship between inflation and interest rates?

Cost Curves: How are different forms of production cost represented graphically?

What Is Money?: What counts as money to economists, and what functions does money serve?

You can see the overall EDIWM YouTube channel here. You can also see more info about the videos via the Econ 101 Videos link above.

Tags: Videos

2 responses so far ↓

  • 1 Punditus Maximus // Nov 5, 2011 at 11:56 am

    By far the weakest idea in economics is the idea of Consumer and Producer Surplus. It holds that if I got $2 million, and Bill Gates got $2 million, both of us would be equally happy.

    That’s absurd, of course — $2 million is life-changing money for me, allowing me to afford treatments for my illnesses that are currently out of reach, and letting me set myself up comfortably to concentrate on my health for years. For Gates, it’s a blip on the stock market.

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