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Principles of Macroeconomics (Video)

Updated 10 days ago

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6 Ratings
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iTunes Ratings

6 Ratings
Average Ratings
4
1
0
0
1
Cover image of Principles of Macroeconomics (Video)

Principles of Macroeconomics (Video)

Latest release on Apr 04, 2018

The Best Episodes Ranked Using User Listens

Updated by OwlTail 10 days ago

Rank #1: What Is Gross Domestic Product (GDP)?

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Picture the economy as a giant supermarket, with billions of goods and services inside. At the checkout line, you watch as the cashier rings up the price for each finished good or service sold. What have you just observed?
The cashier is computing a very...

May 30 2017

4mins

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Rank #2: Nominal vs. Real GDP

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"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?...

May 30 2017

7mins

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Rank #3: Introduction to the Solow Model

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Here's a quick growth conundrum, to get you thinking.
Consider two countries at the close of World War II—Germany and Japan. At that point, they've both suffered heavy population losses. Both countries have had their infrastructure devastated. So...

May 30 2017

5mins

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Rank #4: Real GDP Per Capita and the Standard of Living

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They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly...

May 30 2017

5mins

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Rank #5: Fiscal Policy and Crowding Out

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Effective fiscal policy has to be timely, targeted, and temporary. But how the central bank, businesses, and consumers respond to fiscal policy also plays a role in how effective it is.
When expansionary fiscal policy is enacted, what happens to the...

Oct 10 2017

5mins

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Rank #6: The Solow Model and the Steady State

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Remember our simplified Solow model? One end of it is input, and on the other end, we get output.
What do we do with that output?
Either we can consume it, or we can save it. This saved output can then be re-invested as physical capital, which grows the...

May 30 2017

7mins

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Rank #7: Basic Facts of Wealth

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We know that there are rich countries, poor countries, and countries somewhere in between. Economically speaking, Japan isn’t Denmark. Denmark isn’t Madagascar, and Madagascar isn’t Argentina. These countries are all different.
But how different are they...

May 30 2017

4mins

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Rank #8: Splitting GDP

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In the last three videos, you learned the basics of GDP: how to compute it, and how to account for inflation and population increases. You also learned how real GDP per capita is useful as a quick measure for standard of living.
This time round, we’ll...

May 30 2017

6mins

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Rank #9: The Importance of Institutions

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In today’s video, we discuss a topic critical to understanding economic growth: the power of institutions.
To better shed light on this, we're going to look at an example that's both tragic and extreme.
In 1945, North and South Korea were divided, ending...

May 30 2017

5mins

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Rank #10: Growth Rates Are Crucial

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In the first video in this section on The Wealth of Nations and Economic Growth, you learned a basic fact of economic wealth—that countries can vary widely in standard of living. Specifically, you learned how variations in real GDP per capita can set...

May 30 2017

6mins

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Rank #11: The Great Recession

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There’s already been much discussion over what fueled the Great Recession of 2008. In this video, Tyler Cowen focuses on a central theme of the crisis: the failure of financial intermediaries.
By 2008, the economy was in a very fragile state, with both...

May 30 2017

12mins

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Rank #12: Growth Miracles and Growth Disasters

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In previous videos, you learned two things.
First, that there can be large disparities in economic wealth among different countries. And second, you learned that one key factor drives that disparity: growth rate. As we said, it changes everything. But...

May 30 2017

4mins

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Rank #13: Physical Capital and Diminishing Returns

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Do you recall our question about Germany and Japan from our previous video?
How did they achieve record economic growth following World War II?
Today's video will help answer that question. We'll be digging into the K variable of our simplified Solow...

May 30 2017

5mins

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Rank #14: The Puzzle of Growth

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Throughout this section of the course, we’ve been trying to solve a complicated economic puzzle—why are some countries rich and others poor?
There are various factors at play, interacting in a dynamic, and changing environment. And the final answer to...

May 30 2017

8mins

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Rank #15: Monetary Policy and the Fed

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Spider-Man fans likely recall Uncle Ben advising his nephew, Peter Parker, that “With great power, comes great responsibility.”
As it turns out, that sage wisdom is also pretty applicable to the U.S. Federal Reserve System (aka the Fed). The Fed...

Jul 11 2017

3mins

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Rank #16: Intro to the Bond Market

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Most borrowers borrow through banks. But established and reputable institutions can also borrow from a different intermediary: the bond market. That’s the topic of this video. We’ll discuss what a bond is, what it does, how it’s rated, and what those...

May 30 2017

6mins

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Rank #17: Introduction to Fiscal Policy

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What is fiscal policy? Very simply, it’s a government’s policies on taxes, spending, and borrowing. But how it’s practiced is a little more complicated. Fiscal policy can be used in an effort to mitigate fluctuations in the business cycle – to soften the...

Aug 28 2017

3mins

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Rank #18: The Short-Run Aggregate Supply Curve

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In this video, we explore how rapid shocks to the aggregate demand curve can cause business fluctuations.
As the government increases the money supply, aggregate demand also increases. A baker, for example, may see greater demand for her baked goods,...

May 30 2017

9mins

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Rank #19: An Orgy of Innovation

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In this video, which is also featured in Marginal Revolution University’s Everyday Economics course, we discuss the key factors behind the rise in innovation and entrepreneurship over the past couple of centuries.
The economic historian Deirdre McCloskey...

May 30 2017

3mins

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Rank #20: Game of Theories: The Keynesians

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One point of contention among economists is the causes of business cycles and recessions. And if you disagree on the causes, chances are that you disagree on the solutions.
In this video series, we’re going to explore some of the major business cycle...

Nov 07 2017

8mins

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