You are a genius at explaining this, thank you so much
@sophiewarlow63785 жыл бұрын
Can every economics professor be like you?! Very clearly explained, thank you!
@gconomics37665 жыл бұрын
Glad it was helpful.
@shawonbiswas358911 ай бұрын
hi
@exactlywhyl54963 жыл бұрын
this makes so much sense how you get from the short-run curve to the long-run, thanks! I feel like you really explained it logically so that it's easy to understand why it happens the way it happens.
@gconomics37663 жыл бұрын
Glad it was helpful.
@SamJones-jg4lf5 жыл бұрын
I’ve just watched this video and it’s class, there’s a Phillips curve Question on my first year Ba Economics macro paper. Really helpful this !!
@gconomics37663 жыл бұрын
Glad it was useful.
@priyankarastogi32583 жыл бұрын
Very well explained ... got totally engrossed as each word logically explained the theory ... Thankyou so much sir
@gconomics37663 жыл бұрын
Glad to hear that
@anantjha74524 жыл бұрын
I don't understand the fact that this brilliant explanation has far lesser views than the crappy ones. Sharing this in my econ group.
@gconomics37664 жыл бұрын
Thanks!
@basedtoast Жыл бұрын
Thanks for the great explanation
@gconomics3766 Жыл бұрын
No worries!
@shashi_fv3 жыл бұрын
Thank you so much, I understand it now.
@gconomics37663 жыл бұрын
Glad it helped!
@HPBfifa5 жыл бұрын
excellent, clear and concise explanation. Thank you very much sir
@gconomics37665 жыл бұрын
Thanks ... pleased it was helpful.
@lungdupak59785 жыл бұрын
Explained under 9 minutes so good
@gconomics37665 жыл бұрын
Super - glad it was useful.
@lungdupak59785 жыл бұрын
@@gconomics3766 can you make a video on real business cycle? Thanks a lot!
@shikhajoshi57464 жыл бұрын
Thankyou gentlemen. It was really helpful.
@gconomics37664 жыл бұрын
Glad it helped
@sicelyli51025 жыл бұрын
Wonderfully explained!!
@gconomics37665 жыл бұрын
Thank you!
@ChristianDG214 жыл бұрын
love it
@intekhabalam42064 жыл бұрын
Thanks Myan.
@deepthimadhu27204 жыл бұрын
Thank you much sir 🤗
@_tarrvis75810 ай бұрын
Why does inflation occur on the in the movement from U1 to U2?
@destrall97752 жыл бұрын
What will happen if the government underestimate or overestimate NAIRU?
@elizabethannuk3 жыл бұрын
Ty🥰
@gconomics37663 жыл бұрын
Glad it was useful
@4tony8776 жыл бұрын
Very well explained.
@nayihikiritha55653 жыл бұрын
Thank you
@gconomics37663 жыл бұрын
Pleased it was helpful.
@ivanalucic33535 жыл бұрын
Thank you!
@gconomics37665 жыл бұрын
No Problem.
@najmakawoosa80276 жыл бұрын
Clear explanation....
@duliadotio81476 жыл бұрын
amazing, it is.
@gconomics37663 жыл бұрын
Hope it was useful.
@jayapraneshsivakumar86285 жыл бұрын
Really helpful, thanks a lot
@gconomics37665 жыл бұрын
Thanks ... pleased it was helpful.
@nguyentu37764 жыл бұрын
thank you for your contribution. Would you please explain a little bit about why the B point moves to the C point? You talked so fast so that I can not understand clearly
@gconomics37664 жыл бұрын
Point B represents higher employment but also increased costs for the employer as wages are bid upwards to keep pace with inflation. Consequently, employment levels return to the natural rate at C.
@Intokabele7 жыл бұрын
thanks!
@daozenrod4 жыл бұрын
Thank you. this is High School? I suppose it is too bad that deflation is so dreaded. The US has an extended period of steady state deflation during the Gilded Age, running into the Progressive ERA, during which vast technological increases and productivity increases allowed competition to cause prices to fall, increasing the value of money. They called it the Great Deflation, I believe. The Robber Barons managed to get rich while reducing prices steadily along the way. The value of the money increased. buggy whips were traded for car keys. The FED was the answer to this "malady." The next round of vast technological changes came in the 1990s. but, by then, folks had figured out how to mess up the bounty provided by technology and we ended up with the Dot Com Con / Bust. So, inelastic curves and Federal Reserve Banks are to be avoided like the recessions and depressions they construct--while they avoid deflation and stronger currencies at all costs.
@gconomics37664 жыл бұрын
Thanks, yes, secondary school. A timely comment from you yesterday as my students were working through a past paper which was entirely focused on deflation.
@daozenrod4 жыл бұрын
@@gconomics3766 I prefer to see the curves driven by science ripening into technology, rather than by equations written by quants. I really like what you are doing with these videos. Thank you. I'll watch a great many of them. :-)
@stevenjones28386 жыл бұрын
what a G
@Phazratali7867 жыл бұрын
nice
@patakainstitute3463 жыл бұрын
Kia ora, Here's a question for you and your students if you wish to take it on. You are now operating in today's reality, which is a floating currency, not a fixed exchange rate like the gold standard days where Friedman developed his popular ideas. So this question relates to now, not then. So I am Prime Minister, and sending a directive to you as Head of Treasury & BOE that I desire full employment for all citizens who wish to work, and to allow a current inflation rate of 2%. The last Chancellor of Exchequer and Head of BOE whom both I fired said, "This is impossible Prime Minister, we only know classical theory", so I now turn to you with the same question. How does a nation operating a Fiat (floating) currency negate the PC and NAIRU by implementing a Buffer Stock of employed people, rather than accepting unemployment, hence achieving full employment between the public and private sectors? In your explanation use NAIBER (Non Accelerating Inflation Buffer Employment Ratio) to replace NAIRU, and include both fiscal (spending and taxation) and monetary policy (eg 0% permanent Policy Rate) options in your answer. Therefore note: Our nation has ONLY self imposed financial limitations by legislation, not actual ones, our currency is fiat, and thus we spend the currency FIRST to enable taxes to be paid in our currency (the official tax credit). Lastly, I will not accept a proposal based upon a UBI, and I hold the majority in The House, so I have the ability to pass as legislation on your recommendations for Full Employment & Price Stability based upon the above question. Good luck, your prize if you are correct is I won't fire you like the last two who failed this exam...
@gconomics37663 жыл бұрын
Thanks. I'll share this with my students and let you know how they get on.
@patakainstitute3463 жыл бұрын
@@gconomics3766 Great thanks, would be interesting to get your feedback as my students likewise had interesting answers. We have been working through the differences in currency regimes fixed or floating as it pertains to full employment, moving beyond NAIRU thinking in a post COVID economy here in New Zealand. My regards, my name is Lee by the way, I have an Econ & Natural Sciences institute here in NZ, nice to meet you.
@gconomics37663 жыл бұрын
@@patakainstitute346 Thanks, Lee. Good to connect with you.