Economics
Micro, macro, and personal finance in one course: supply and demand, GDP, the Fed, credit scores, and compound interest, animated.
11 units · 89 topics · 396 questions
Why nobody can have everything, the real price of any choice, and the four different ways a society decides who gets what.
Scarcity and the Need to Choose · Opportunity Cost · Marginal Thinking: Costs and Benefits at the Margin · The Production Possibilities Curve · +4 more
How millions of separate buyers and sellers land on one price with nobody in charge, and what makes that price move.
The Law of Demand · Determinants of Demand · Shift Versus Movement Along the Demand Curve · The Law of Supply · +5 more
Why a higher price crushes sales of one good and barely dents sales of another, and how to put a number on that.
What Makes Demand Elastic or Inelastic · Calculating Price Elasticity of Demand · Elasticity and Total Revenue · Price Elasticity of Supply · +2 more
What happens the moment a government sets a legal price, taxes a trade, or hands out a subsidy.
Price Ceilings · Price Floors · Tax Incidence: Who Really Pays a Tax · Deadweight Loss From a Tax · +1 more
What a firm's price and profit look like at every point between a market with a thousand competitors and a market with one.
Perfect Competition and the Price Taker · Profit Maximization: Marginal Cost Meets Marginal Revenue · Short-Run Profit and Loss for a Competitive Firm · Long-Run Equilibrium and the Entry and Exit of Firms · +4 more
What happens when a price misses a real cost or benefit to somebody else, and how wages get set in the market for work.
Negative Externalities · Positive Externalities · Public Goods and the Free-Rider Problem · Common Resources and the Tragedy of the Commons · +3 more
How economists put one number on how big an economy is, how fast prices are rising, and how many people are out of work.
What GDP Measures and What It Leaves Out · Calculating GDP: The Expenditure Approach · Real GDP Versus Nominal GDP · Using a GDP Deflator to Find Real GDP · +8 more
How a government's own taxing and spending can be used to shrink a recession or cool an overheated economy.
Government Spending and Taxation as Policy Tools · Expansionary Fiscal Policy in a Recession · Contractionary Fiscal Policy to Cool Inflation · The Multiplier Effect · +2 more
What actually makes a dollar bill valuable, how a bank turns one deposit into many loans, and how the Fed sets interest rates today.
What Makes Something Work as Money · Measuring the Money Supply: M1 and M2 · How a Bank Creates Money by Lending · The Money Multiplier in a Limited-Reserve System · +5 more
Why two countries both come out ahead by specializing and trading, and what actually moves a currency's price.
Absolute Advantage Versus Comparative Advantage · Gains From Trade and Specialization · Tariffs and Quotas · The Trade Balance: Deficits and Surpluses · +2 more
The money math that decides whether debt buries you or compounding sets you free: budgets, credit, loans, saving, and taxes.
Building a Budget · Needs, Wants, and the Opportunity Cost of Spending · Simple Interest Versus Compound Interest · The Power of Starting Early · +9 more