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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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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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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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Fractional reserve accounting : Simple Fractional Reserve Accounti...

By: Sal Khan

Fractional reserve banking and the money supply.

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The Phillips Curve - Inflation and unemployment : Unemployment Rat...

By: Sal Khan

Understanding how the headline unemployment rate (U-3) is calculated

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

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Marginal propensity to consume (MPC) : Mathy Version of MPC and Mu...

By: Sal Khan

Generalizing what we did in the last video with more math

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

By: Sal Khan

Understanding how changes in foreign ownership of assets effects balance of payments

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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The business cycle : The Business Cycle

By: Sal Khan

The business cycle and how it may be driven by emotion

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. Economies never have a long steady march upwards. They constantly oscillate between growth and recession. This tutorial gives a lit

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Keynesian thinking : Keynesian Economics

By: Sal Khan

Contrasting Keynesian and Classical Thinking

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. Whether you love him or hate him (or just consider him a friend that you respect but disagree with every-now-and-then), Keynes has

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Fractional reserve banking : Weaknesses of Fractional Reserve Lending

By: Sal Khan

Weaknesses of Fractional Reserve Lending

Fractional reserve banking and the money supply.

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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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Real and nominal GDP : Example Calculating Real GDP with a Deflator

By: Sal Khan

Simple example of calculating Real GDP from Nominal 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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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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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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Consumption function : Generalized Linear Consumption Function

By: Sal Khan

Generalizing a linear consumption function as a function of aggregate income

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. We are steadily building up the tools to understand the Keynesian Cross and the IS-LM model. In this tutorial, we begin to model consumption as a linear

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Components of GDP : Examples of Accounting for GDP

By: Sal Khan

Thinking about how different types of expenditures would be accounted for in GDP

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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Inflationary and deflationary scenarios : Stagflation

By: Sal Khan

How a supply shock can cause prices to rise and the economy to stagnate

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

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Currency reserves : Accumulating Foreign Currency Reserves

By: Sal Khan

How and why a central bank would build foreign currency reserves

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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Consumption function : Consumption Function Basics

By: Sal Khan

The basic idea of a consumption function

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. We are steadily building up the tools to understand the Keynesian Cross and the IS-LM model. In this tutorial, we begin to model consumption as a linear

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Fractional reserve banking : Full Reserve Banking

By: Sal Khan

Overview of full reserve banking in comparison to fractional reserve banking

Fractional reserve banking and the money supply.

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