Short Run Phillips Curve

[@hawkswingz]

Knowledge is one thing and ability to teach at this excellence is an entirely different skill. You got it all and some! I learnt these theories during just the length of your tutorials; wouldn't be the case if I sat in a class for hours with someone who had no idea of teaching. People like you, are global treasures. Hope you know that. thanks Dal tanks you tube!

[@Jdkslls]

Thank you for being better than my university professor

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Lol

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Lol

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[@lyndoncollins6601]

Your ability to transfer this level of knowledge to conceive better understanding and students of economics is remarkable. You’re the best!!

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I owe you my A Level

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How can someone be so good at teaching

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This is advancwed humour

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you should know you're saving so many lives with your videos :D THANKS

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You dont know how very helpful these videos are sir You stand at the peak of the art of simplifying complicated things in econ.

[@BhumikaShamJagtianiISWKi]

THANK YOU SO MUCH! I struggled to understand this so much but your way of teaching makes everything a 100X better!

[@tanveededhia2866]

A special thanks to econplusdal videos of economics....it really helped alot to understand macro concepts with ease

[@EconplusDal]

+Tanvee Dedhia A special thanks to you for watching :)

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Huge thanks, Dal!! You made this look so easy to understand. 👌💯

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Much love from Uganda, makerere University 🇺🇬🇺🇬🇺🇬🇺🇬🇺🇬

[@StreetDancer171]

With this new OCR specification with a terrible textbook by Peter Smith, you've been extremely helpful to my gaining of knowledge with regard to economics

[@fastfoodie47]

watching this 2 days before 2024 paper 2 (AQA) hopefully itll come up. (Your face is burnt into my monitor at this point but i cant stay mad at you econplusdaddy)

[@sutirthasarkar4189]

Thank you so much for brushing up my concept before exam.... U saved me...!

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ib eco half-yearly tomorrow, econdal coming in clutch for last minute revision!

[@priyankatheartist8643]

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[@EconomistYT]

you nailed it,I have been struggling to understand how its related to classical AD-AS Model.Now I got it thank you so much..Great job keep it up!

[@RalcyJaneBeautyx]

I literally had no idea how this worked before I watched this video and now I do, THANK YOU, my Econ a level is in a month lol

[@juancarlosotero5620]

Super clear and to the point. Thanks for the video

[@johnmitchellskinner4447]

Really helpful, and well explained, thank you!

[@prabalshrestha6655]

One of the best teachers in youtube

[@bilalasad78]

You are an absolute legend! I actually understand your videos which is ACE keep them coming!

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The vids is great and straight to the point

[@suryapaudel4590]

Fantastic explanation brother... Greetings from Nepal 😇

[@eduardatoledo5590]

YOU ARE THE BEST AT TEACHING!!!!!!!!!!! THANK YOUUUUUUUUU SO MUCHHHHH

[@sandyphillips9147]

Cheers Dal

[@razeradam]

This guy is amazing just wow! U are amazing!!! A big thank you for the help and videos!!!!!!

[@donaldcb3401]

well explained keep up the good work 🙂

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Great Video, Keep up the amazing work!!

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Better than my college professor

[@neharadia8689]

Great videos, thanks!

[@lowkey_anp]

Thank you so much for all this help. Can we also have videos on the Money chapter from a levels

[@JSAWYER137]

Great help, thanks. When do you think you will post more A2? Globalisation/ exchange rates etc?

[@tomas-oe7pz]

how do you show that inflation also rises with the new phillips curve due to stagflation? As the line coming from PL2 should be linear? or do you just draw the line with a slight bend upwards? thanks your videos are very useful

[@musinguziandrew1441]

Extraordinary explanation, thanks a lot

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[@adenigba]

God bless you richly.Thanks man.

[@arnavsashi4728]

Thank you so much☺️☺️☺️ such a good video xxx

[@gireeshshrivartava9415]

wonderful dear it was gr8

[@narayanbishowakarma3162]

you are great help sir,keep going

[@williammullan2862]

Thank you so much for such a helpful video! However does the SRPC shifting to SRPC 3 counter the argument that any reduction in unemployment below the NRU level would be purely inflationary? Or does that only apply when AD is used to do so and because this is the short term phillips curve? Thanks again!

[@EconplusDal]

William Mullan You're right, classical economists say that any demand side policies (AD influencing) to reduce unemployment would be purely inflationary. On the supply side the argument changes

[@PureInsanity6]

So well explained

[@ash.b9829]

You're the BEST!!! Thanks :-)

[@matthewdodd7213]

Hi there, any last tips on evaluation for Philips Curve? Would be a great help, many thanks.

[@hgfdsacgh]

absolutely brilliant!!!

[@gamiththushara1619]

Thank you so much. Your videos help me a lot to understand this subject 😁

[@saimatasnim5054]

the video is really helpful

[@MC10W]

Fantastic content here : could you even shift SRAS to the left due to the Ebergy crisis or due to lefts sag COVID . ???? But put the same effects on the Phillips curve ?

[@dimonwhite02]

Here because teachers still set us assignments even when college is closed.

[@TaariqSiddik]

Atleast your A level economics teacher still cares about sending you work

[@mijailmariano7846]

Awesome video! Fellow Econ Tutor

[@thaomydo1441]

you're a godsend!!!!!!

[@sylvainhours]

Hello, It seems to me that when the AD decreases, the average price level decreases so we face deflation and not disinflation as your movement down the Phillips curve suggests. Am I wrong?

[@iniester6724]

when you write SRPC, is this same as expectation augmented phillips curve(EAPC)

[@FarisSkt]

expected augmented Phillips curve is the long run Phillips curve

[@aizazaheer8995]

in which topic can we use this curve, Inflation or unemployment ?

[@V1k35h1]

Mind Blown!

[@karvenperamal3827]

when unemployment is low, workers are NOT scarce ? I'm lost :/

[@EconplusDal]

+Karven Peramal Yes they are, when unemployment is low, many workers are in work. Hence to find new workers is difficult, they are scarce

[@karvenperamal3827]

+EconplusDal oh now I get it! Thanks

[@arindakevin275]

Thank you so much

[@bumbfart]

i love you man

[@sumanchowdhury9549]

who can explain why it's assumed that SRAS,LRAS and AD curve intersect with each other on a single point ?? please help.

[@regularman4063]

When showing why the SRPC shifts, why does it never go into deflation, like the previous diagram

[@billyfox6368]

It does. That's where it crosses the origin.

[@elfmas]

Hi dal, can you help me understand explicitly why the SRPC shifts? I understand the reduced unemployment results in a higher inflation rate, but what actually happens that causes the shift to the right (eg if lras shifts to the left)? Is it something to do with the firms laying people off due to higher wage demands?

[@udaykumarpriyani1994]

This comment would be of no use now but from what i understood, there wouldnt be a shift in LRAS as this is occuring in the short run. if u meant that SRAS shifts to the left it relates to the idea that it raises a firm's costs of production so they would lay off workers in the process causing SRPC to shift to the right.

[@CheetoCheetah77]

How come in my textbook, the SP curve is upward sloping?

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Take ❤️ from Bangladesh 🇧🇩

[@Jackr889]

mate i fucking love you, dont ever stop making videos pleaseeeee.

[@nurehh2271]

Thank you!

[@isacoffers2]

Does stagflation only happen with economic situations that shift the SRAS curve?

[@harsh0811]

Could a critique be that Keynesian economists would say well it depends where we are in the economic cycle?

[@nugs8506]

this only applies to demand-pull inflation right? For cost-push the Phillips curve won't describe it well

[@zacthetoad7903]

Thanks dad

[@WW-xo9ll]

Great video! I have one question though- why would a supply side shock increase unemployment? Is it simply to allow a firm to maintain a profit, so number of employees must decrease in order to reduce ATC? Thank you in advance

[@Ahmed-cu5lw]

Because real gdp decreases labour is a derived demand, derived from the goods and services in the economy Meaning when real gdp falls because of the supply side shock so unemployment (ik you asked 6 years ago)

[@xamitneupane]

@ 10:07 on Price level vs RGDP graph. How does it shows that although price levels have increased, unemployment has decreased ???

[@EconplusDal]

Amit Neupane It doesn't, Phillips curve shifts

[@Baddogbling321]

sooo which one do we use for the exam

[@ismatsarwan6088]

Hi sir: could you please discuss those topics e.g how do you close inflation Gap and deflationary gap using fiscal and Monetary policy. and what causes these gaps, how to close these gaps and what the impact of those gaps on economy. thank you sir

[@ruvelynlenares5057]

so perfect

[@oneinabillion654]

I know u may not answer my Q. but if anyone else could help me, is there any proof for such shifts in the SRPC. From the explanations, it just sound as though monetarists forcefully shifts the curve to represent stagflation LOL. If possible, a mathematical explanation would be helpful :D

[@willk3014]

Which exam board do you use?

[@Browsky562]

thanks a lot man

[@enoma1608]

1:57 "When unemployment is low, workers are very scarce" Can someone explain this to me? I thought of it as the opposite wherein if there are lots of workers wouldn't that mean jobs are scarce? Not workers?

[@OriginalMaestro]

The assumption is that with low unemployment there is a high demand for workers by firms. Which means that workers are in high Demand hence scarce

[@jasondew1054]

Sorry but I am a little bit confused. If you shift AD to the left, that means the price level has fallen. But according to the Philips curve, that'd give you a movement along the curve, and in this case, you said it may drop to a 1% inflation rate. Does that not contradict the fall in the price level, since inflation means an increase in the price level?

[@MC10W]

What is the evaluation . How can the gov try I limit the Trade off that exists ???? And not only this what is the Ebaluation what idea this depend on ??

[@nonsoottih7405]

I think an evaluation point is that firms have become significantly technologically inclined and hence more capital intensive. As a result, you could argue that changes in the unemployment level will not have a large effect on wage growth and the inflation rate.

[@shyamangchouhan9224]

thanks sir

[@Travelingman-1980]

Doesn't work in an over indebted economy. Consumption will not be there to increase inflation despite low unemployment, wages are still flat.

[@zuheirzahid8927]

Hey, I really love your videos. Can you please do a video on the Aggregate Expenditure Function.

[@haarrnoor]

thank you....EconplusDal

[@samiksharajpuria2651]

do u have notes

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i love you !!!!!

[@gemaskerdebeuker8511]

at 5:12 you mean inflation right?

[@lowkey_anp]

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[@Travelingman-1980]

The Phillips Curve is currently bust...low employment and low wage growth.

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[@gianfrancocassanova8284]

I wasted 2 hrs on this material and still dont understand and all i need is 15 mins vids