Macro: Unit 5.1 -- The Balance of Payments

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Discuss the benefits of trade
- Define an open and closed economy
- Analyze the effect of world prices and tariffs on the quantity of goods and services
demanded and supplied in the domestic economy
- Discuss the categories that make up a nation's current and capital (financial) account
balances
- Identify what transactions are included in a nation's current and capital (financial) accounts
- Practice calculating the balance of a nation's current and capital account, and ultimately,
the nation's trade balance
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[@aubreyjdickens]

thanks for saving me from my horrific midterm tomorrow, can always count on you, willis

[@VictorLejarsa]

you're good mate.

[@priyanshitripathi8784]

You're saving lives you know❤️

[@subhankar.g4533]

So much better than Jacob clifford. and everything is free as well!

[@tbaiftikhar1031]

Thank you for this video. Easy to understand these terms now. Keep up the good work !

[@shivangisharma7210]

Aaaah..... God bless you .....really saved me today ...thank you so much

[@jegaatheesrajendram106]

it is a really nice and amazing explanation ... Thank you

[@CarlosMartinez-jp1rq]

Sufficiently basic to be awesome. Thank you Follow the money!!

[@sindinkosi1759]

Wow-what a powerful presentation. Thank you.

[@chahatsharma1702]

Thank you for such an amazing explanation

[@joseph20yearsago61]

Please explain New classical macro economics

[@YouWillLoveEconomics]

Be on the lookout in the months ahead and we’ll try to get to that topic.

[@warisharehan4268]

Well explained,you just saved me,so thankyou!

[@michaelcopeman9577]

I already love economics!

[@oladuminucophotography]

Very well explained! Thank you :)

[@thecuriousscholar09]

Yup, we love economics man❤💯

[@chrisberto799]

thanks a million.

[@asnikurnia6583]

Thank u....

[@YouWillLoveEconomics]

You’re very welcome!

[@Claymunism]

Splendid video, will share with friends.

[@gisahamza182]

i like the lecture it turned out useful to me

[@prateekgoyal1496]

what is the difference between capital account balance and current account balance?

[@grgn7786]

The current account shows flows of goods, services, primary income, and secondary income between residents and nonresidents. The capital account shows credit and debit entries for nonproduced nonfinancial assets and capital transfers between residents and nonresidents. The financial account shows net acquisition and disposal of financial assets and liabilities. These are the official definitions.

[@juliettegosling735]

you sir are a LEGEND

[@agnayidas6891]

Well explained, I genuinely loved it but I wish the lecture was available in a PDF...to read n revise the concepts.

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Great presentation 👍

[@drjesuselshaddai9537]

You are the best. You just saved my head

[@PankajSharma-mv4nu]

Well explained

[@capitlegynylseant.1700]

Thank you!

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You got my sub

[@gashagazadavid2958]

thank you

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Fantastic

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hero

[@S.P20sss]

Great

[@amrezzal-arab6245]

Oh, fantastic .

[@tevinnyondo7448]

🔥✊🏽

[@HusseinDoha]

Thanks for the video. In striking this delicate balance between protecting and maintaining domestic industries, and opening up imports of goods which will make consumers save money, the cost of losing economic activity in a region (unemployment) due to the impact of importing cheaper goods, ought to be accounted for. Unemployment bring devastating social problems like depression and crimes. If the way cheaper goods come from places that lack labour, health and environmental regulations. Competition to lower the cost of production can only come by disregarding these fundamental safety regulations.

[@andrewmacomber8345]

is FOREX coming soon?

[@YouWillLoveEconomics]

Hi Andrew! I just posted my Forex market video in the Unit 5 playlist. Enjoy!

[@imeshkalana8325]

Sir Could you explain Relationship of International finance and International trade