Chapter 33: Aggregate Demand and Aggregate Supply

Рет қаралды 74,445

Күн бұрын

Key facts about economic fluctuations 1:17
A first picture of the model 7:36
How are the aggregate demand and supply curves different from regular demand and supply curves? 9:39
Why does AD slope downward? 13:34
The wealth effect 14:27
The interest rate effect 15:42
The net export effect 16:48
What causes the AD curve to shift? 18:45
Shifts from changes in consumption 19:45
Shifts from changes in investment 21:23
Shifts from taxes 22:19
Shifts from changes in the money supply 23:02
Shifts from changes in government spending 23:28
Shifts from changes in net exports 24:07
The long-run aggregate supply curve 25:35
Why is it vertical? 26:34
What causes LRAS to shift? 29:04
Using the model to explain long-run growth and inflation 32:10
The short-run aggregate supply curve 35:01
Sticky wage theory 36:40
Sticky price theory 38:43
misperceptions theory 40:05
Things that shift SRAS 47:03
Expected price level vs. actual price level 49:27
Using the AD AS model 54:40
Long-run equilibrium 56:15
A decrease in aggregate demand 59.55
Historical examples of decreases in AD 1:15:45
A second example: an increase in AD 1:22:12
A shift in aggregate supply 1:26:53
Stagflation 1:30:07
Analyzing the pandemic with the AD AS model 1:37:35

Пікірлер: 84

@nikhilfci Жыл бұрын

This 1.75 hour will do no harm for your quest to learn how economy works in long and short run. Thank you sir. GOLD.

@DrAzevedoEcon Жыл бұрын

You are very welcome!

@anbudamodaran4162 2 жыл бұрын

This deserves way more views. Such a great lecture 👏

@DanielleDeFreeze 2 жыл бұрын

This man writing backwards deserves some kind of genius award lol.. I do that on foggy windows and stuff that’s how I noticed it but he’s on another level 😬😂

@radhikabakshi3782 2 жыл бұрын

Sir is writing forwards the video is flipped

@DanielleDeFreeze 2 жыл бұрын

@@radhikabakshi3782 oh ok lol

@emiliadybka5154 2 жыл бұрын

Absolutely fantastic! Speechless to how amazing these presentations are, perfectly clear and easily understood. Honestly speaking, you are a life saver Dr. Azevedo! Please keep doing what you do. Thanks from NZ!

@pinglu1510 Жыл бұрын

Dr. Azevedo, I can not give enough likes to your lectures! All the best, Ping

@DrAzevedoEcon Жыл бұрын

Thank you!

@nurulfajri-mm4lo 5 ай бұрын

I just want to say, Thankyou for existing in this word!! I was the person who really hate about math and economic stuff. It's too hard to understand from the slide that my lecture given. Even from the book, but after watch your videos, I gettt moree and moreee better understanding. You deserve to get more than this. You really helping us !!!

@DrAzevedoEcon 20 күн бұрын

Thank you for the kind words! I'm glad you've found the videos helpful.

@rifqahkhairunnisa1431 Ай бұрын

hello, sir. i am an economics student from Indonesia, currently working hard studying and preparing for my thesis. finally, i found your channel, and all I can say is a massive thank you, sir. you are the greatest lecturer because when you explain something, it's different, you make it so much easier. i always remember this : when you don't know something, but someone explains it to you in an 'easier way', it's because the person is truly a smart thinker. and you remind me so much of those words. thank you and may you always maintain the enthusiasm for your work, sir.

@DrAzevedoEcon 20 күн бұрын

Thank you for the kind words! I'm glad my videos have been helpful. Good luck with your thesis.

@DatGirlAlicia 2 жыл бұрын

Thank you so much for this video! You’re a GREAT teacher. Thank you so much for explaining what each things is in the real world. I was struggling understanding Macroeconomic until I came across this video. Thank You 🙏🏾

@marianabello4671 Жыл бұрын

Thank you!! This lecture is so easy to understand! I was struggling with the reading of the chapter until I found this video. Thanks from CL!

@DrAzevedoEcon Жыл бұрын

You're welcome.....glad to be able to help!

@kvafsu225 2 жыл бұрын

Very informative lecture on Keynesian Economics. Thank you Sir.

@fedelicskaaria7289 2 жыл бұрын

Very insightful and intelligent Doc.Keep up

@KawalyaDancanJames 10 ай бұрын

Dr. of Economics u deserve more than what you give me, your presentations are working out here, thanks dear

@DrAzevedoEcon 9 ай бұрын

I'm happy to help! Thanks for watching!

@pinglu1510 Жыл бұрын

This intangible assets is unevaluable! Thank you, Dr.

@DrAzevedoEcon Жыл бұрын

You're welcome!

@CorkerAz 8 ай бұрын

This is awesome, more grease to your elbow for the superb lectures, May God continue to shine the greater Light of His Surpassing wisdom on you

@DrAzevedoEcon 20 күн бұрын

Thank you for the kind words!

@MuhammadAli-ym4oq 2 жыл бұрын

You are just amazing SIR.............Tons of thanks.

@chhayankmulchandani4812 2 жыл бұрын

Awesome lectures sire

@mathewajayi2482 Жыл бұрын

This is just beautiful. Thank you sir.

@DrAzevedoEcon 11 ай бұрын

Thank you! Glad to be able to help!

@dr.vanishreegaddi4554 Жыл бұрын

best lecture ever heard ,Thank you professor

@DrAzevedoEcon Жыл бұрын

You're welcome!

@anaanzures420 2 жыл бұрын

What a great lecture!

@aayushregmi4334 7 ай бұрын

I am here after my economics exam. Now I realised studying after exams is far more interesting than before exam 😂. Before exam I was studying for marks and now I am learning for my curiosity 😅

@rovercoupe7104 7 ай бұрын

How did you do? M.

@DrAzevedoEcon 7 ай бұрын

You're right....I always learn more when I'm genuinely interested in the topic. I hope you did well on the exam.

@MJ-rg8mo 4 ай бұрын

OMG after searching multiple video and I end up here, I thought it was only a short 10 minute video so i did not skip it, after watching 30 min without realizing it was an hour for the full vid, and it is greattttttt!

@DrAzevedoEcon 20 күн бұрын

Glad you found it! I hope it helped.

@MeomeoAchi Ай бұрын

Thank you so much, you are truly the best teacher ever

@DrAzevedoEcon 20 күн бұрын

Thank you...I really appreciate that.

@nenatx6499 2 жыл бұрын

That’s an amazing lecture! So clear and easy to follow. Feels like cheating. Thank you a lot!!!

@BrianZhuo 2 жыл бұрын

Best explanation ever

@trietminhtranle2430 Жыл бұрын

thank you so much for this lecture

@DrAzevedoEcon 20 күн бұрын

You're welcome!

@yinyin7614 2 жыл бұрын

Good video. Recommended.

@nurikm2331 2 жыл бұрын

Thank you SIR!

@kishorebandi481 3 жыл бұрын

Sir,can you make a video on theory of consumer choice (ch 21)

@madhavhans2289 2 жыл бұрын

Firstly great video But I have a question while you were explaining that 1930's example you said GDP fell by 25% and price by 22%, here price shouldn't have fell at least 25%?

@princemuchindu31 2 жыл бұрын

outstanding

@phillipgunter8375 Жыл бұрын

Absolutely brilliant!!!!

@DrAzevedoEcon Жыл бұрын

Thanks! Glad to help!

@hoanglong4138 2 жыл бұрын

thanks a lot sir

@user-lr8nw5kr7b Ай бұрын

Thank you professor

@DrAzevedoEcon 20 күн бұрын

You're welcome! Thanks for watching

@sharifullahkhan6834 2 ай бұрын

Really great man ❤

@DrAzevedoEcon 20 күн бұрын

Thank you! Thanks for watching

@alliemarie2194 Жыл бұрын

Slayed.

@jakegoldfarb4500 2 жыл бұрын

Man is a goat

@siyandamaseko2312 Жыл бұрын

I love this man.

@ramzinasser2027 2 жыл бұрын

i appreciate you so much g!

@nhathan428 Жыл бұрын

thank you professor!!!

@DrAzevedoEcon Жыл бұрын

You're welcome!

@gauthamramachandran5792 5 ай бұрын

bros singlehandedly saving my econ grade

@DrAzevedoEcon 5 ай бұрын

Happy to help!

@vidyanandkumar8878 6 ай бұрын

thank you

@DrAzevedoEcon 6 ай бұрын

You're welcome! Glad to help.

@WijthaGayan Жыл бұрын

hello prof, i have doubt about illicit drugs industry how they are continue business high tax and less advertisement ?

@DrAzevedoEcon Жыл бұрын

Here's an interesting article on the economics of drug use: insight.kellogg.northwestern.edu/article/the-economics-of-the-illegal-drug-market

@user-om3cp2tk8z Жыл бұрын

Sir, if the firm expects the price rise in near future, won't it increase it's production in the present to sell it at higher prices in the future?

@DrAzevedoEcon Жыл бұрын

That's a possibility. It depends on whether the good is durable once it has been produced as well as how much it costs for the firm to store it. If the good is durable and they can store it cheaply, they may increase production now. If the good is not durable (or if it is too expensive to store), they may decrease supply now so that they have the inputs necessary to increase supply in the future. Of course, this also depends on what they expect to happen to their input prices. Understanding expectations is challenging, because each firm can expect something different. I rarely use it as a determinant of demand or supply on an exam because you can create a story that makes just about anything possible.

@bbeeyangli 4 ай бұрын

Regarding stickiness, a free market could perhaps be considered as a market with zero stickiness (somewhat akin to the ideal gas model in physics), where the speed of information transmission is infinitely fast (ignoring relativity) and the speed of price adjustment is also infinitely fast, allowing the entire system to instantly adjust to an equilibrium state. In reality, markets have stickiness, which leads to a thought: if the speed at which the market adjusts to equilibrium is slower than the rate at which the market itself is changing (such as in macroeconomics), what would happen? Therefore a thought has occurred, if the government undertakes actions to accelerate the market (or prices) to reach equilibrium faster, would this be good or bad? (In this case, government intervention would not be a disturbance to equilibrium, but rather an acceleration towards it, or making it easier to achieve equilibrium. For example, establishing a price near the anticipated equilibrium point, maybe it is very challenging) (Later, I realized that the latter half of the video already mentioned something similar.Whether it is good or bad for the government to reduce market stickiness or increase market fluidity or accelerate the market is a matter of debate among economists.)

@DrAzevedoEcon 20 күн бұрын

I think you're on the right track here. I do believe there are things that the government can do to try to reduce stickiness. One example is to create policy that reduces the cost of information. Cell phones have actually done a lot to help with this.