Congratulations on your video, Ms. Hodgson! This is something that is rarely talked about, even in some economics textbooks. This content is really, really valuable. Thanks for posting it!
@Cleisthenes211 ай бұрын
Omg, after so many years of reading/using the terms 'endogenous' and 'exogenous' in a loose way, I finally now how they're technically defined!
@abdallahelmoctar7635 Жыл бұрын
You are way better style than alot of lecturers and profs of economics, they do very little explanation of this structure i don't know perhaps they don't understand enough or believe learning by doing is better, but this is excellent! I'm watching everyone of your videos Ashley :)
@jewelevans9277 Жыл бұрын
This video is GOLD. Genuinely life changing. Thank you so much!!
@richardstockerson8213 Жыл бұрын
not just your accent is amazing, you explained something which blow my mind. ask me bootstraping your software company, ask me what tax reductions gets you most benefits and value. mecEngineer, two IT diploma, mba…i have built business from art gallery to high street restaurants.. but you opened my mind. by just simple explanation of generation of money/moment/emotion
@leonyagahima6685 Жыл бұрын
Something so vital, yet hardly touched upon. Thank you.
@SLouadah2 жыл бұрын
This video is incredible! Thank you so much! I'm currently, for my own "fun", working on building an economic model of my home country. It's main exports are Oil and Gas, my objective is to see how price variations of these commodities influence variables such as state's budget, unemployment rates, GDP, change reserves and so on. I've been researching the subject, but I wonder, if you were to build such a model, how you would proceed?
@victoriabergeron52052 жыл бұрын
This was so clear and fun to watch! It will definitely help me when my professors introduce models, as I have a more intuitive understanding from this video.
@AshleyHodgson2 жыл бұрын
I'm so glad to hear it! Having an intuitive understanding of models is the most important part of understanding micro, and goofy examples like this help connect the intuition to every day life.
@UzmaKys7 ай бұрын
What year r u in
@deepsingh9825 ай бұрын
Thank you for simplifying this concept..... I lack words to express my gratitude... Definitely the academia these days doesn't use simple language to convey the concepts...this is how it must be taught
@leahkampewu1640 Жыл бұрын
Thank you so much. I have learnt alot
@NtchindiCTheu2 жыл бұрын
Thank you so much for this great video. I wanted to ask for the link to the videos teaching about the parts i need to learn of an economic model. Thanks
@felipemorelli40592 жыл бұрын
thanks. Your explanation helped me a lot. Do you mind telling me which reference you used? Any reading recommendations?
@AshleyHodgson2 жыл бұрын
When I teach microeconomic theory, I teach from Hal Varian's book (any edition), which is a classic. But this approach of teaching students the model-building framework from the beginning is more-or-less my own, and I teach it on top of the Varian content. It frames everything in Varian nicely, and is empowering to students.
@rasaqyusuff1748 Жыл бұрын
Thanks for this video ma. Please, recommend a free ebook on model building in economics
@abuzainabahmadsyakirnorazli2 жыл бұрын
i have a study project to revise on microeconomics model and this vid helps! thanks!
@MoneyGist11 ай бұрын
Thanks! 🙏🏽
@laiyangke38002 жыл бұрын
Thanks for the video, this is very clear. My question is your objective function is consist of three generic functions, how do you find the specific functional form of V(g), M(g), and H(g)?
@AshleyHodgson2 жыл бұрын
That's a good question, and there are a few answers. One is that you could estimate those functions if you had data. Another answer is that you could leave these in generic form for your analysis, as long as you have some sense of the general shape (first derivative > 0, second derivative < 0, for example). The third answer is that thinking about the exact shape carefully is part of the analysis process, and you will almost always have to make some assumptions about the shape and model different cases of different shapes. Classic functional forms to use, of course are Y(x) = x^a where a < 0 for diminishing marginal functions and a > 0 for increasing marginal functions.
@laiyangke38002 жыл бұрын
@@AshleyHodgson Thanks for such a detailed response!
@edwardgonzalez63312 жыл бұрын
This is awesome! Thank you.
@simeon-13832 жыл бұрын
@00:50 Ojbective Function 😆 sorry, great video
@sun-riseshetty556 Жыл бұрын
Nice Video... Well explained..
@622948382 жыл бұрын
Yeahhh. Thanks for doing this !!!
@nwabunweneosa-afiana5528 Жыл бұрын
Thank you for this
@ivanvargas25592 жыл бұрын
Execelem works, but can you tel US how to solve ?
@aabhalatkar2432 Жыл бұрын
sorry where is the link for the parts?
@AshleyHodgson Жыл бұрын
Here are a couple of links: kzbin.info/www/bejne/fHfFepWOodZ1qtk and kzbin.info/www/bejne/pWLIaKFmZaiVkNU I'll also add these to the video description!
@kaushalsah65732 жыл бұрын
Good class mam I am Indian
@freedomgodfrey558 ай бұрын
Is she British or American?.
@forex77692 жыл бұрын
What the heck does this have to do with economics ong ! Waste my time 👎