Wednesday, November 17, 2010

Learning Economics on a Budget: Part VII

It has been almost four months since I have posted an update on my YouTube channel. Since then, I started a playlist website, where I organize links to my videos into units (to make the content on my channel easier to navigate).

I have also uploaded some new videos to the channel, including most of an intromediate-level treatment of general equilibrium and a couple of other miscellaneous topics.

In this video, I introduce the idea of an endowment economy budget constraint, which is foundational to the idea of general equilibrium.



This next video in the series describes the essential aspects of the Edgeworth Box and demonstrates how to find a competitive equilibrium graphically:



The next video in the series describes the idea of Pareto efficiency and demonstrates how to find Pareto efficient allocations in an Edgeworth Box.



The most recent video on general equilibrium/ Edgeworth Box economies explains how to think about The Coase Theorem in the Edgeworth Box.

The Coase Theorem + Edgeworth Box video builds on previous knowledge of The Coase Theorem (at least in a naive sense) and Externalities. Before going to the full-blown Edgeworth Box treatment of The Coase Theorem, you may want to watch these earlier videos.

First, my video on externalities and welfare:



Second, a simple numeric example to illustrate the Coase Theorem:



With the foundation of the previous videos in this post, you can fully appreciate what I do in the Coase + Edgeworth video:



As I plan to post more videos on the analysis of Edgeworth Box economies, you may want to subscribe to my channel to receive updates from YouTube.

In the meantime, I also posted videos on some other topics:

Price Ceilings and Price Floors:



Introduction to Game Theory:



Introduction to Oligopoly:



Finally, you may notice a change with these videos: now there are ads on (or before) my videos. This is because I recently became a YouTube partner, and I earn a few pennies here and there as people watch my videos. Those pennies are nice, but the fact that people have found my videos helpful is even better.

If you know someone who would benefit from the videos on my channel, pass a link along to them. If acquiring economic reasoning has a positive externality, telling them about my videos might just be a Pareto improvement.

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