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Core Concepts in Macroeconomics: Market Failure, Taxation, Social Security, Unemployment, GDP, and Economic Growth

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Externalities: Social Benefits and Social Costs

  • Guided course
    Externalities on the Graph
    14:23
  • Guided course
    Negative Externality and Positive Externality
    10:54

Public Solutions to Externalities

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    Public Solutions to Externalities: Quantity Limits
    04:07
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    Public Solutions to Externalities: Command-and-Control Policies and Corrective Pigovian Taxes and Subsidies
    16:25

Introducing Taxes and Tax Incidence

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    Tax Incidence
    03:21
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    Taxes and Tax Incidence
    13:27

Effects of Taxes on a Market

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    Effects of Taxes
    09:45
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    Tax Revenue
    03:59

Labor Force and Unemployment

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    Problems with Measuring Unemployment
    04:35
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    Labor Force and Unemployment
    05:58

Types of Unemployment

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    Frictional, Structural, and Cyclical Unemployment
    05:44
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    Definition of Full Employment
    02:44

Four Types of Goods and Two Characteristics

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    Rivalry and Excludability
    04:47
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    The Four Types of Goods: Private Goods, Club Goods, Common Resources, and Public Goods
    05:41

The Free Rider Problem and the Tragedy of the Commons

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    Tragedy of the Commons
    07:34
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    Free Rider Problem
    06:11

Expenditure Approach for Measuring GDP

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    Calculating GDP Using the Expenditure Approach
    02:31

Detailed Explanation of GDP Components

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    Government Purchases and Net Exports
    02:12
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    Consumption
    02:38
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    Investment
    02:01

Nominal GDP and Real GDP

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    Nominal GDP and Real GDP
    09:15
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    Inflation and the GDP Deflator
    03:04

Growth Rates and the Rule of 70

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    Growth Rates and the Rule of 70
    02:50
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    Growth Rates and the Rule of 70
    05:47

Institutions that Promote Economic Growth

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    Role of Government in Economic Growth
    08:45

Circular Flow Diagram

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    Households and Firms
    01:32
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    The Circular Flow Diagram
    04:20

Sources of Comparative Advantage

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    Sources of Comparative Advantage
    05:50