9a. Deriving Demand using Calculus

In this video, I demonstrate how to derive demand in a simple two-good case (a good of interest and a composite good with price $1). My derivation uses the intuition from the graph of a consumer's optimal choice, as well as some basic calculus (partial derivatives).
Check out a description of my teaching activities here:
www.tonycookson.com/teaching
Check out a list of the videos in this series (organized by topic) here:
blog.thisyounge...

[@Ciaran_B]

whoever you are bro you have helped explain micro to someone trying to catch up 4 weeks behind, carrying my course!

[@intromediateecon]

@denniturk I'm glad you're so smart. Maybe you'd benefit from one of my more advanced videos. Try my two part series on the Envelope Theorem (Lecture 24A and 24B)... it might be more your size. Should others should stop studying if they struggle with this? You're entitled to your opinion and I'm entitled to mine. I see this video as a nudge to help someone who is learning it for the first time. You have to learn it sometime, right? Now that you know it, of course it is easy.

[@nitroxize]

got a High Distinction in my 2nd year micro class. couldnt of done it without you! thank you very much

[@alitienda5235]

wow... it feels like some pieces in my head fallen in the right place... i understood it and i feel so much more confident now... now i can get drunk... thanks

[@partizanct]

All of your videos are awesome, you explain things thousands of times better than my ECN100 professor.

[@intromediateecon]

Thanks! Depending on the intermediate micro course, this is very close to what you will be doing. If your class doesn't use calculus, the topics will look like the lectures on here that based out of my book (the more basic ones on graphing and algebra). If your class is calculus-based, your course is probably going to be some mix between the intuitive (graphical) videos and the more advanced (denoted with an A) videos. I'm glad you find my videos helpful. Good luck with your class.

[@zidanexion]

You have saved my life in econ300 intermediate econ.....thank you for Reenforcing my confidence in my ability to be a successful student in economics

[@joosewv]

I've been studying for a microeconomics exam for a while now, just reading this stuff, and although this is really easy for me already, your videos help a lot in connecting everything i've learned. Also, I'm studying in Finnish, and your videos are still very approachable. The language of math is a funny thing :) Keep up the great work!

[@intromediateecon]

@w1drwomn Marginal Utility is the derivative of Total Utility, so it actually matters. The utility function (U=XY) is total utility, but the partial derivatives of utility enter into the MRS = Px/Py calculation. Does that clarify the point?

[@beastmode3333]

I wish you were my teacher! My teacher is Polish and understanding his accent is a challenge in itself

[@intromediateecon]

@YogaLover29 Glad to hear it!

[@SJSCW]

Hi, your an amazing bloke!!! Just wondering if you can help me though, Ive got my test in two days and I thought the optimum consumption rule for finding the optimum bundle for the opt utility was when the condition (Marg Utility Y/Marg Utility X) = (Price of X/Price of Y) Is this still right?and in which case how would I figure out for this example or would I need to be able to see the next indifference curve to figure out the marginal utilities of X and Y? If none of this made sense then :(

[@YogaLover29]

You are saving me and my roommates lives!

[@w1drwomn]

In the equation with utility: is that marginal utility or total utility? Does it matter? It would still be the same ratio, right?

[@purovenezolano14]

You are a hero. Thanks a lot.

[@intromediateecon]

Victor is pretty awesome.

[@intromediateecon]

@reillyg999 Great to hear!

[@msels77]

awesome!!!

[@christophermendozaya]

Alllll other goods!

[@torigreenaway192]

thank u

[@frannytodders]

Absolute boy