Macro: Unit 3.6 -- The Phillips Curve

Рет қаралды 97,550

6 жыл бұрын

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Review the origins of the Phillips curve
- Discuss the inverse relationship between the inflation rate and the unemployment rate in
the short-run, leading to a downward-sloping short-run Phillips curve
- Discuss the constant relationship between the inflation rate and the natural rate of
unemployment in the long-run, leading to a perfectly vertical long-run Phillips curve
- Practice graphing how changes in aggregate demand will change the inflation rate and
the unemployment rate on a short-run Phillips curve
- Practice graphing how changes in short-run aggregate supply will change the inflation rate
and the unemployment rate on a short-run Phillips curve
- Practice graphing how changes in long-run aggregate supply will change the inflation rate
and the natural rate of unemployment on a long-run Phillips curve
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Пікірлер: 56

@ahmedkheiri9935 6 жыл бұрын

Probably the best economics teacher ever, really helped me prepare and learn the information that my professor was not teaching well. Earned a subscriber!

@YouWillLoveEconomics 6 жыл бұрын

This is awesome to hear! Glad it was helpful. Be sure to spread the word about the channel. Thanks for the feedback!

@annp9595 6 жыл бұрын

Simply put with nice pacing. I’m extremely relieved and grateful that I found this channel right before my Phillips test. The AP Macro and Micro exams are a few weeks away, and I definitely feel more confident about taking it by watching your videos. Thank you! :)

@YouWillLoveEconomics 6 жыл бұрын

That’s fantastic to hear! Spread the word, and thanks for the feedback and support!

@ATorres0821 4 жыл бұрын

This video did a great job combining the two graphs into a meaningful gauge of how real-world events impact the economy. You have a very engaging demeanor when teaching. At the beginning of the video I was worried that the material was aimed solely at people who have taken an economics course, but I think anyone who watches the video completely will appreciate the main ideas being taught. Thank you for the quality video!

@albinagilazutdinova5756 4 жыл бұрын

This explained me so much, it's just brilliant! Thank you for your work, I think every year this video will be saving dozens and dozens of students lives !

@kenetmartinez369 2 жыл бұрын

GOD I LOVE YOU. I'm from Colombia and doing some research to complete a presentation to finally graduate from school, i suddenly find you. Your explanation is totally coherent and i really appreciate that. Earned a sub!

@mahdidi96 5 жыл бұрын

I think this is the best, most concise video ive seen so far on this subject. good job

@arshisid47 6 жыл бұрын

Wonderfully explained! loved the normal pace.

@YouWillLoveEconomics 6 жыл бұрын

Awesome! I’m glad you found it helpful. Thanks for the feedback and the support!

@ponpailinchew1408 5 жыл бұрын

Hi there, firstly, my greatest appreciation to you and your videos for teaching me more than my lectures. Also, may I request if you are able to upload videos on the IS LM model in an open and close economy. I'm having difficulty trying to understand the relationship of the equations and the graphical representations. I would very much appreciate it! thank you

@hollygoodman4904 Жыл бұрын

Best economics teacher. I really appreciate the pace you teach at because it gives me time to understand. I appreciate you! :)

@user-bz5io6ph8w 3 жыл бұрын

Thank you Mr. Willis this is a really helpful video! I shows clearly how the ADAS model and Phillips curve is related

@illiberalarts 4 жыл бұрын

I have a final exam tomorrow and this video is life saving for me. Thank you very much.

@indianantiques6830 5 жыл бұрын

Would be immensely indebted to to you Mr willis if you could create a playlist in Welfare economics

@omkumar4717 2 жыл бұрын

best economic teacher. best video, fully conceptually, and good understanding cover all things in one video with best use of senytences and economic vocabullary.

@angelojeremias4301 4 жыл бұрын

I'm from Chile and you help me a lot with your videos, thanks(:

@pallavijain3262 3 жыл бұрын

The best explantion on Phillips curve. Thank you so much

@zackkassner3374 3 жыл бұрын

Just wanted to let you know that you helped me big time. I hope your having a good day man.

@bartomiejpeksa125 5 жыл бұрын

Thanks for the video! Topic explained thoroughly!

@huzeifahassanali5927 5 жыл бұрын

Great help!! Thank you soo much!

@estheroladele7684 5 жыл бұрын

thank you very much it was soo helpful but i haven't been able to explain it to a Nigerian situation

@macariantonina95 2 жыл бұрын

Wonderfully explained! Good job!

@rmgulamnurulimam3493 5 жыл бұрын

Thank you very much, this helping a lot

@djalmapaz9032 2 жыл бұрын

Amazing presentation, thanks so much.

@paula3084 3 жыл бұрын

Tomorrow I have the exam, thanks for the explanation, you deserve a like bigger than a house!!!

@fatoskryeziu6801 5 жыл бұрын

When don't like commenting on yt, but you have to. Thank you, Mr.W.! 😊

@ethanwhite2669 2 жыл бұрын

This video was extremely helpful, Thank you!

@chandrakantamalviya2358 6 жыл бұрын

To the point. Thank you!

@YouWillLoveEconomics 6 жыл бұрын

You’re very welcome! Glad it helped.

@t24money 4 жыл бұрын

Can you adjust the Philips Curve for Robot Employment / and AI ? if not how would you try to do this ?

@as-bb9nu 5 жыл бұрын

Helped me out in the last min exam prep

@alfredaidoo4081 2 жыл бұрын

Hi, I don't know what to choose between Economics and Accounting. I really love both. Can I get an accounting job after persuing Economics at the University???

@elainarosilez9163 2 жыл бұрын

this video really helps me with economics

@esmerfantasysf9138 3 жыл бұрын

thank you!!!! i learned better with this explanation

@Droid98765 5 жыл бұрын

THANK YOU

@acb108 4 жыл бұрын

Thank you!

@dgfcl56ify 3 жыл бұрын

You're super awesome! Thanks!!

@jgsportsgaming2821 5 жыл бұрын

You are born to teach...

@classicalethics2053 Жыл бұрын

I'm confused. At the 1:50 mark, he says that, as unemployment rises deflation occurs. Yet economist Charles Goodhart says that, while dependents are inflationary, workers are deflationary. He explains it this way. When a business hires a worker and expects $100,000 in productivity, he pays him $70,000, thus netting a $30,000 profit. In other words, the worker is generating more productivity than he's getting paid for. Money is a measurement of productivity. The more productivity = the more money. If there is INCREASED productivity in the system and less pay, that creates deflation. I get that. Then why does the Phillips Curve seem to suggest the opposite?

@maiden5427 3 жыл бұрын

This right here was worth 90% 👏

@govindkarna6517 3 жыл бұрын

Well explained

@virginiawamoyo8599 3 жыл бұрын

Thank you sir..so helpful

@yangmimakang6470 6 жыл бұрын

Sir, thank u so much I find ur video very helpful .

@YouWillLoveEconomics 6 жыл бұрын

Thanks for the feedback and the support!

@nizgancebiyeva443 3 жыл бұрын

👍🏻great! Keep up!

@matiasainbinder4757 2 жыл бұрын

Hi. I really want to understand what is happening right now in USA. I mean inflation rate is 5% and unemployment rate also is higher than last month so Phillips Curve can't be useful. Thanks!