Monday, September 28, 2009

Learning Economics on a Budget: Part I

For the last month, I have been creating video lectures on economics and statistics, and posting the resulting videos to YouTube. I have two goals with this project:
  1. I want to create an online course for basic understanding of microeconomics and its applications.
  2. I want to make basic economic knowledge available at low opportunity cost.
Aside from using it to learn economics on your own, I view this video lecture series as a great complement to in-class learning. Even though my videos follow my own textbook, plenty of courses have a similar sequence of topics. Therefore, my videos should still be useful if you're taking a similar class and using a different book.

The project is still a work in progress, but I have finished the first unit. I will post the embedded videos for each unit as I finish producing them. The posts will be right here on the blog. Speaking of a completed unit, here's my first unit on Supply and Demand.

Unit I: Supply and Demand

This first video describes the difference between moving along a demand curve and shifting a demand curve.



The logic is similar for supply curves.

In the second video, I work an example of solving and graphing a linear system of supply and demand equations.



In the third video, I extend the example of the second video to implementing a per-unit tax.



And, in the last video of the unit, I extend the applicability of supply and demand analysis to a wider scope (and I introduce the normative-positive distinction).



For a complete understanding of supply and demand, there is certainly more to these topics. I just hope the lectures clarify some of the more difficult issues. The rest can be learned by studying the right reference.

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