he was like "okay, okay, im gonna cut this bit no worries" but he posted the whole uncut video anyways LOL

Dear teacher, i just wanted to say that you probably saved a part of my economics test tomorrow lol ! So thank you very much from a french student studying law and who's going bonkers in economic class.

For someone who is thoroughly confused, this has been one of the best explanations. Thank you.

Dear Teacher, I just wanted to voice my thanks for all your videos and hard work. I'm a young teacher working in China and your videos have been of great help to many of my students that struggle with English & Economic terms. Being able for them to go back to their dorms and still have someone explain the concepts discussed in class has been of great help for them! Keep up the good work! many tks!

I cracked up at the beginning and the end! ha

You should be given a Nobel prize for humanitarian aid for helping desperate students all over the world !! Brilliant !

Thumbs up if a student in your class teaches you economics better than your teacher. AND THIS GUY helped so much! thanks!

You're such a great teacher!!!! MICROECONOMICS SEEMS SO MUCH MORE EASIER...AFTER THIS VIDEO!! THANK YOU FOR SHARING THIS VIDEO WITH US CLUELESS STUDENTS!!

Thanks for all of the work Phil. When I started teaching several years ago I used your videos to help me cover the tougher topics in economics. You are a one of the biggest reasons I started my own channel to help economics students. I also currently work with an old colleague of yours, Mr. Heath. All great things to say!

You are amazing! Thanks so much. What my teacher was saying before sounded Greek to me, but now I am understanding price elasticity much better. Please post more instructional videos, you truly have got talent.

Thanks so much for this video. I really can't show how much us economics grasshoppers appreciate your videos. Keep it up, from all the viewers, THANK YOU! :)

3 more hours for the finals and you are the life line. Thank you so much.

i find myself coming back to this vid every single week :) extremely helpful. Problem is my mom thinks the internet is ruining my studies!

Thank you so much pajholden! With your help I managed to achieve a B in A Level Economics even though I did not listen all year! Your video's are amazing!

thanks so much, I've been finding it very difficult to study economics just because of the sheer amount of topics, this is both concise and well explained. Thanks.

man never cut the beginning. Paj is a what we call a rebel.

you are helping me so much in my Economics 001 class. you explain it so much better than my teacher. with your help explaining so far i have an A in class. thank you thank you

Very well explained. Great work and better than my professor.

I've just spent an hour pouring over textbooks unsuccessfully trying to learn something that you taught me in 6 minutes.

this guy is awesome, he writes so fast! and leave the camera guy alone, he did a decent job to be honest!

Before I watch all the relevant videos for my economics exam tomorrow I'll thank you in advance for all the great videos! :)

His formulas are actually precise. The concern is that in calculating the percentage change, you may go from a higher to lower quantity or price or vice versa. I suppose the generally accepted method is to use the average initial and final quantity and price for simplicity. I've found these vidoes extremely helpful.

This is fantastic and crystal clear. Wish I had a prof like you!

Thanks dude. I took Econ 101 back in college during my first year but couldn't remember anything about it. I recently switched jobs from writing algorithms for an insurance company to management consulting where this stuff keeps showing up. I remembered the vocabulary but couldn't remember what it stood for. You saved me hours of reading through old notes and books :).

I remember watching your videos when I was studying Economics at university.. thanks to your help I got a First :)

I may pass my IB higher economics exam in 10 days... Thank you for loving to teach! My teacher recommended your videos-

Sir , i am also a teacher of Economics , and i can proudly say that ur way of teaching is awesome.... i love to see your video

Thanks for the excellent explanation for elasticity in demand, I do believe this has helped me more than any other video I have watched.

Seriously, you make it very easy. Wish you were my Managerial Economics teacher here in California.

Thanks a milion. The explanation were so simple that I actually got the concept.

I've got a test coming up tomorrow in elasticity! This video helped me a lot!!!!!! Cheers!

The promo/ad for Kissland was the best part of the video :)

You are amazing. I owe my A in microeconomics to you. I referred your videos to all of my classmates!!

Lol, you made me pass economics in highschool a few years back.... Now im in college and I always come back to watch your videos to remember the things I've forgotten since highschool........ thank you Pajholden

thank you, my current economics professors have really thick accents so i dont learn anything in class, this is probably saving my grade

You explain it so much better than my teacher, thanks mate :)

I have an assignment due that covers this and I couldn't understand it, but you've explained it perfectly! Thanks so much.

you just explained this so perfectly. wish you taught at my school. respect!!

YOU ARE AN AWSOME TEACHER! U MADE ECONOMICS SO EASY FOR ME!!!!

The best!! got my exam in a few hours and this explains it all :)

It's great that you used the example to show us how PED works :)

I have a SAC tomorrow-You saved my life!!

This video is great, the guys is a great teacher. Bravo

Thank you so much, I wish you were my teacher too. I wish you teach in Tampa, Florida. I was so lost until now, everything makes sense. You are an A(awesome) teacher

Thanks from Tom, doing an exam on Monday, excellent tutorial

You're amazing! A big thank you from myself and on behalf of some of the fellow economics students in my class (Perth, Australia) :)

fantastic lecture. thank you sir I'm sure i will be passing my econ class because of you. i will be sharing this with the rest of my class so we all get that A grade we want lol. Nairobi, Kenya

YOU ARE REALLY A GREAT HELP SIR! I'LL BE HAVING MY REPORT TOMORROW AND I'VE UNDERSTOOD THE TOPIC BECAUSE OF THIS VIDEO! I'M LOVING ECONOMICS MORE.

I wish my teachers could explain it that well )) great job!!

Your way of teaching is awesome

YOU ARE BEYOND AMAZING!!! i ahve a midterm in 2 days and this helps me tremendously!

clear and straight to the point! thank you for these wonderful online lectures!

You are an awesome teacher. Keep on the good work and thanks a bunch for this

thank you so much for posting these explanations up! it really helped clarified things I had a hard time grasping.

Thanks you explained it much easier than my professor!!!

well articulated and extremely easy to follow. thank you, good sir!

Thank you! Your video helped me in preparing for my midterm.

Good video. Very straight-forward and helpful.

@chinzie275 HI - thanks for your comment. You have misread the equation, which calls for change in price. As price rose from 10 to 12, thus the change in price is 2.

I worked this out, if you use the percentage method it is a more precise way of measuring elasticity - midway between the original and the new point. This is the average price and average quantity method. Stick to the way phill does it, but this is why the percenatage method figure is different.

Aww the beginning and end was so adorable. Thanks for explaining to me. You're amazing!

Smashed it Paj

I wish you taught my economics class, you can actually speak English. Very refreshing.

Ten years, and I'm now coming to watch it

Who came here because their econ teacher sent them here =))))

My Econ final is tomorrow and this is extremely helpful!!!

this is extremely helpful, your videos have helped me SO MUCH! thank you x

This was extremely helpful. Thank you so much for these videos!

Thanks very much, you're getting famous in Groningen (Netherlands).

really clear and understood the explanations! wish you could teach us in school phil! cheers

omg........this video is greater...i wish you could be my tutor in the uni..

awesome video i hope to see more thanks

My god he just taught me PED in less than 7 minutes compared to my lecturer who failed to teach me that in 50 minutes. EPIC OWNAGE!

Very nice guy... Thank you for your help Adrian from New York

Thanks alot !! =) much better than my teacher´s explanations :-)

love your teaching style!

very nice ,,,, thnak u very much keep it up bro

i love you. thanks for making my day better and helping me with the subject

Thanxxx for the video... Very good...

thanks a lot! saved me time reading my Econ book!!

thank you so much for this video i was so confused i was not getting my teacher what she teaching me but when i have seen ur video i got everything in optimal way thank uuuu so so so much i love the u teach plz plz plz upload more videos about MBA economics can u plz upload regression analysis and standard error estimation, demand estimation plz will look forward for ur kind help u r great owsome and best teacher.

Perfectly Explained.. Thank you very much

u did some great job dude! its so clear to me now!

You're great lecturer ... Thank you so much

Thanks Bro..If there is god..I'm sure he loves you...I will ask my cousins to attend these online lectures..thanks

Very, very helpful for studying.

wow. great teacher :D so easy 2 understand

Thank you very much !!! Perfect explanation !!!! You're great !!!

Thanks a lot this helped me to understand what I was reading.

Thank you for putting this up. I found it very helpful.

A great professor, thank you.

great explanation

Thanks Phil, this is very useful.

very helpfull man thanks a lot saves hours of reading

I wish you were my econ teacher. BIG help boss

This is because of the negative ( Inverse ) relationship between price and quantity demanded, that is, as the price goes up the quantity demanded goes down. Conventionally Economists refer to PED in absolute term by ignoring the negative sign .

better than my professor :D thank you!

I hate microeconomics but this professor is really good.

beautifully taught, i have seen your other lectures as well, great work :-)

you are a great teacher!! thank you