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Marginal propensity to consume (MPC) : MPC and Multiplier

By: Sal Khan

Introduction to the marginal propensity to consume and the multiplier

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. If you earn a $1, you might spend some fraction of it. This can then be income for someone else. This can keep going. In this tutorial, we'll explore how

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GDP and the circular flow of income and expenditures : Circular Fl...

By: Sal Khan

Understanding the flow of resources in the simplest possible economy

Circular flow of income and expenditure. Gross domestic product. Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. Th

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Keynesian Cross : Keynesian Cross and the Multiplier

By: Sal Khan

More on shifting aggregate planned expenditures. Connecting to the multiplier

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. We now build on our consumption function models and start to explore ideas of planned expenditures as a function of output. When plotted with the actual

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Components of GDP : Components of GDP

By: Sal Khan

Understanding the components of the expenditure view of GDP. Consumption, investment, government spending and net exports

Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we

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Real and nominal GDP : GDP Deflator

By: Sal Khan

Relationship between the GDP deflator, nominal GDP and real GDP

Circular flow of income and expenditure. Gross domestic product. The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tut

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Measuring cost of living --inflation and the consumer price index ...

By: Sal Khan

Basics of price inflation and the CPI (consumer price index)

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Measuring cost of living --inflation and the consumer price index ...

By: Sal Khan

Looking at actual sequential and year-over-year inflation data

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Monetary and fiscal policy : Monetary and Fiscal Policy

By: Sal Khan

Basic mechanics of monetary and fiscal policy

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. Governments (and pseudo government entities like central banks) have two tools at their disposal to try to impact the business cycl

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Interest as the price of money : Interest as Rent for Money

By: Sal Khan

Thinking about interest as the price of money. Looking at money from a supply and demand perspective

Fractional reserve banking and the money supply.

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IS-LM Model : Loanable Funds Interpretation of IS Curve

By: Sal Khan

Thinking about how real GDP can drive real interest rates

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. In this tutorial, we begin thinking about the impact of real interest rates on planned investment and output. We then use this to help us plot the IS cur

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IS-LM Model : Connecting the Keynesian Cross to the IS-Curve

By: Sal Khan

Introduction to the Investment/Savings curve

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. In this tutorial, we begin thinking about the impact of real interest rates on planned investment and output. We then use this to help us plot the IS cur

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Historical circumstances explained by AD/AS : Cost Push Inflation

By: Sal Khan

How an oil shock can slow the economy while causing inflation

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. In the last tutorial, we claimed that the aggregate demand and aggregate supply model (AD-AS) would be useful for analyzing macroec

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Measuring cost of living --inflation and the consumer price index ...

By: Sal Khan

Exploring the actual weightings for the CPI-U basket of goods

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Introduction to economics : Introduction to Economics

By: Sal Khan

Basic introduction to what microeconomics and macroeconomics study. A bit on Adam Smith

Circular flow of income and expenditure. Gross domestic product. This very short tutorial gives us the big picture of what economics is all about and, in particular, compares macroeconomics (where you are now) to microeconomics.

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GDP and the circular flow of income and expenditures : Parsing Gro...

By: Sal Khan

Understanding what GDP does and doesn't measure.

Circular flow of income and expenditure. Gross domestic product. Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. Th

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Currency reserves : Speculative Attack on a Currency

By: Sal Khan

Balance of payments. Current account. Capital account. Currency reserves and speculative attacks. This tutorial delves into how and why countries (usually their central banks) would want to keep other countries' currency in reserve. It then goes into why

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Aggregate demand and aggregate supply : Short Run Aggregate Supply

By: Sal Khan

Justifications for the aggregate supply curve to be upward sloping in the short-run

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. This tutorial looks at supply and demand in aggregate-from the perspective of the entire economy (not just the market for one good

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Currency reserves : Math Mechanics of Thai Banking Crisis

By: Sal Khan

Going through the mechanics of how a Thai financial institution can lose their shirt when their currency devalues.

Balance of payments. Current account. Capital account. Currency reserves and speculative attacks. This tutorial delves into how and why countries (usually their central banks) would want to keep other countries' currency in reserve. It then goes into why

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Balance of payments- current account and capital account : Balance...

By: Sal Khan

Understanding the United States Current Account in 2011

Balance of payments. Current account. Capital account. Currency reserves and speculative attacks. In this tutorial we will see how trade and assets (including money) changing hands are fundamentally intertwined. Not only that, but we will see how this can

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Components of GDP : Investment and Consumption

By: Sal Khan

Difference between every day and economic notions of investment and consumption

Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we

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