Chapter 33: Aggregate Demand and Aggregate Supply

[@nikhilfci]

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]

You are very welcome!

[@anbudamodaran4162]

This deserves way more views. Such a great lecture 👏

[@emiliadybka5154]

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]

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

[@DrAzevedoEcon]

Thank you!

[@nurulfajri-mm4lo]

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]

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

[@rifqahkhairunnisa1431]

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]

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

[@DanielleDeFreeze]

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]

Sir is writing forwards the video is flipped

[@DanielleDeFreeze]

@@radhikabakshi3782 oh ok lol

[@DatGirlAlicia]

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]

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]

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

[@CorkerAz]

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]

Thank you for the kind words!

[@pinglu1510]

This intangible assets is unevaluable! Thank you, Dr.

[@DrAzevedoEcon]

You're welcome!

[@KawalyaDancanJames]

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

[@DrAzevedoEcon]

I'm happy to help! Thanks for watching!

[@MJ-rg8mo]

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]

Glad you found it! I hope it helped.

[@MeomeoAchi]

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

[@DrAzevedoEcon]

Thank you...I really appreciate that.

[@mathewajayi2482]

This is just beautiful. Thank you sir.

[@DrAzevedoEcon]

Thank you! Glad to be able to help!

[@alliemarie2194]

Slayed.

[@jakegoldfarb4500]

Man is a goat

[@nenatx6499]

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

[@aayushregmi4334]

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]

How did you do? M.

[@DrAzevedoEcon]

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

[@user-lr8nw5kr7b]

Thank you professor

[@DrAzevedoEcon]

You're welcome! Thanks for watching

[@gauthamramachandran5792]

bros singlehandedly saving my econ grade

[@DrAzevedoEcon]

Happy to help!

[@dr.vanishreegaddi4554]

best lecture ever heard ,Thank you professor

[@DrAzevedoEcon]

You're welcome!

[@BrianZhuo]

Best explanation ever

[@kvafsu225]

Very informative lecture on Keynesian Economics. Thank you Sir.

[@EstherMwamba-cu6fw]

I wish I came across your videos earlier Thank you so much, God bless you. Next week I'm writing my exams and I feel like I've learnt a lot more from your lectures thank you so very much 🙏🙏💖

[@chhayankmulchandani4812]

Awesome lectures sire

[@fedelicskaaria7289]

Very insightful and intelligent Doc.Keep up

[@phillipgunter8375]

Absolutely brilliant!!!!

[@DrAzevedoEcon]

Thanks! Glad to help!

[@MuhammadAli-ym4oq]

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

[@nhathan428]

thank you professor!!!

[@DrAzevedoEcon]

You're welcome!

[@siyandamaseko2312]

I love this man.

[@sharifullahkhan6834]

Really great man ❤

[@DrAzevedoEcon]

Thank you! Thanks for watching

[@yinyin7614]

Good video. Recommended.

[@trietminhtranle2430]

thank you so much for this lecture

[@DrAzevedoEcon]

You're welcome!

[@anaanzures420]

What a great lecture!

[@user-om3cp2tk8z]

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]

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]

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]

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.

[@nurikm2331]

Thank you SIR!

[@vidyanandkumar8878]

thank you

[@DrAzevedoEcon]

You're welcome! Glad to help.

[@madhavhans2289]

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%?

[@rovercoupe7104]

Brilliant

[@DrAzevedoEcon]

Thank you!

[@princemuchindu31]

outstanding

[@ayanbdas4191]

u r my hero

[@DrAzevedoEcon]

Ha! Thanks!

[@ramzinasser2027]

i appreciate you so much g!

[@hoanglong4138]

thanks a lot sir

[@NgocLeBao-ix5cw]

Can I ask why we don't have enough videos of other chapters?

[@DrAzevedoEcon]

I have recently been creating videos for upper-level classes, but I have plans to create videos for the other chapter in Mankiw. Do you have a request for which chapters you would like to see videos for?

[@NgocLeBao-ix5cw]

@@DrAzevedoEcon i actually havent read the book yet. Im studying macro by your videos. I will watch all of videos you uploaded in this series. It's would be more wonderful if you make some videos analyzing recent world economic events. Thank you a lot, sir

[@WijthaGayan]

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

[@DrAzevedoEcon]

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

[@kishorebandi481]

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

[@ThokozaniPiyo]

My lecture

[@suhanichaudhary5823]

sir pls upload ch 35

[@seanobyrne5828]

Colin Robinson

[@Unkn0wn-di1p]

Please change your marker.

[@tti4919]

The boss

[@olacieslicki3495]

GOD

[@ewuramasam177]

Wowww🤝👏👏

[@lucacorti7133]

vorrei un professore come lei...

[@matasantanasmarcinkevicius204]

my man if not you i would fail my ecomy class

[@DrAzevedoEcon]

Haha! I'm happy to have been able to help!