macroeconomic goals of government

[gulbirk]

Interesting. So which political party would you say you identify with?

[petchucos]

International School of Kuala Lumpur in Malaysia is also using the 'Phil videos' for its IB Econ course! Awwwwww Yeeeeaaaaa

[pajholden]

@petchucos Would love to visit you all there in wonderful Kuala Lumpur. Invite me over and I will teach you all for a day!

[chelseablues96]

@pajholden using this video in Vietnam British School!

[Monkman192]

Fantastic video, well done. You make economics so easy to understand! Thank you :)

[moysowet2020]

i am a Trinidadian.. and thanks to you i can fully understand what you are saying about economics

[MatteNoob]

You deserve all the attention you're getting for these videos, and more. I only wish I had found your videos earlier. I've been trying to decode these models now for the past four months. I do understand economics and mathematics, I just have a hard time with all the assumptions etc in the models, they often seem unrealistic. If models were meant to serve as a teaching aid, I'm sorry it didn't work for me, hehehe.

Oh well, will move on to your other videos now. Take care!

[tr77777]

I loved not only the concise manner in which you present but the humility and clarity of your tone. Well done good sir.

[AllenIveray]

I love your economics videos!! Our econ teacher always uses your videos as supplements in class!

[hulihanveronica]

Your video on supply side policies' awesome.

[hulihanveronica]

From singapore! Thank you so much, economics seem so much clearer to me now. I'm taking my exams in a few weeks!

[amilaxp]

Thanx a million sir. Greetings from Sri lanka

[cesar2jr]

Very helpful information for beginner learners like myself. Way to explain it ! ! !

[aditya123sahay]

Thank You Sir

[TheIslandGIL]

which key objective that society needs to achieve to maintain minimum standard of citizens plese???

[badhur777]

the no. 1 goal of any government- to get re-elected! :)

[beckyeconomics]

You are God of economics. Thank you Thank you Thank you!

[Sabrineta2003]

what about the natural rate of unemployment ? according to the recent mark scemes in the last couple of years, "low unemployment" is not accepted. you have to say "full employment"

[raja1994]

This is how I remember the Macroeconomic Objectives:

P: Price Inflation

U: Unemployment Low

B: Balance of Payment Equilibrium

E: Economic Growth Stable

S: Stable Economy

Remember....PUBES are the way forward!

[kibruhsoff]

@benedyktmatraszek same here. totally agree! :D

[benedyktmatraszek]

My IB exams start in a week, and my economics exam is something like 2-3 weeks away. For the past couple of days I've been absolutely petrified with the amount of detail and concepts and theories I need to be able to apply to various situations, especially at HL. But then I found this guy's videos, and they're like a ray of sunlight in the gloomy world of economics revision. They're clear, concise and well-explained. Thank you for making my life so much easier!

[hhorak]

Keep making them, you are a good teacher!

[WoundedEgo]

You are such a brilliant communicator. Kudos.

My only contribution would be that ISTM that the consumption of natural resources is not "tangential" but rather "germane" to ANY discussion of long term macroeconomics... something that Obama seems to get, and others, but is still off the radar of most.

Your videos rock!

[retroboydeccles]

this guy's an absolute boss at economics. wish I was blessed enough to have him as a teacher

[Chriz449]

Good way to learn the economics goals is this:

B: Balance of Payment

U: Unemployment low

G: Growth (GDP)

S: Stable Prices

[sarilacivertkanarya]

@Chriz449 I love you :') LOL thanks alot

[saraahxhc]

can you be my economics teacher???????????? URE SO GD!

[theforwardthinking]

interesting you say "low" unemployment and not "full" employment.

Is it not the case that without a pool of unemployed, wages would be driven up, which could harm economic efficiency (and the profits of big business, which governments appear to work so closely with)?

[andonandone]

I think that the redistribution of income should also be included to make the top 5 and to avoid trade deficit in Australia which is a developing economy that has a low population and therefore cannot generate enough savings to fund its growth. It has to rely on other countries like Japan to loan them their Current Account Surplus to australia with inflation which accounts for almost 3/4 of the deficit through the income account.

[bobichina]

I love your videos.

[safuraatan]

Seriously you have made economics so sexy!

[MrAntiemo123]

You explained the four major macroeconomic goals, but may you please tell me what environmental preotection means in macroeconomic terms.

[ladderinyourstocking]

you are absolutely fantastic. super helpful, interesting, and relevant! it is the second video of yours that i have watched, following CPI which i looked for as a last minute cram video before an exam. love it love it.

[chrisrailton]

thanks alot, you have really helping me through university with your videos i am extremely grateful, thank you

[tomkeane123]

as part of the video he says that if you have five groups from the richest to the poorest that before tax is taken into account the richest have £18 for everyone that the poorest have. please can you tell me were you saw this as it seems to be the complete opposite of what happen in reality. p.s. anyone wanting to study economics may want to look at the mises institute videos.

[saffaalltheway]

Thank you very much for sharing your knowledge in an easy to understand format. Wish there were more lecturers like you!

[18esi]

well done you are an amazing techer.

[nailakazim2004]

i am preparing for my MBA exam and your videos are helping me a lot. Thanks again for making videos but one thing which is necessary to mention here is that it would be gr8 if u make videos in little more detail.

[thefrenchmen]

You are awsome! Your videos have been very usefull, probably boosted me up a grade! thank you

[rainingonshinygrass]

You're awesome.

[archi451]

on the other hand there are good people in the govt. ...i am sure there are...somewhere

[TheDancer0911]

All your videos have helped me understand a whole semester of macro in about 10 minute intervals with these vids. Thanks!

[cdah889]

come to asia. LOL. thanx for this video. just getting ready for my exam in only about few hours left. T.T

[patpat1978]

you are a great man pajholden. Ulas from Fall River, Masachusetts, USA

[tellelephone]

What really hurts people is the arbitrary wage gap. Excess should be criminalised as socially unacceptable so that redistribution of income didn't rely on fiddling around with TAX and Benefits but on a more socially acceptable factor of say 7 instead of 18. Why the f does a person have to possess so excessively what exploited labour puts into his reach?

The current myth surrounding meritocracy as a rule for classifying worth is a typical example of a school of thinking from the dark ages

[youarebeingridiculou]

Thank you for all of your videos! Very much appreciated.

[puresickdead]

come to America!!

[SERDAR17RONALDO17]

dear legend ....thanks from Turkey hacettepe univercity

[zeyad20072007]

thxxxx alot :D Egypt thx u ^^

[boxerboih]

wot a ledgend

[shotakei2003]

You're amazing!!! Not being a smartass and all but Government is an "it" not they. =)

[flyingbeagles]

You're amazing, your videos really really helped :')

[RandRdriver]

I'm glad you made this videos. I'm trying to get ready for my finals.

[Gregoire06]

Thanks for the lesson. What you're doing is really great. Keep up the good work!

[ribargy]

I am just wondering how would budget deficit/surplus fit into these four goals? Or should budget balance be mentioned as a fifth goal?

[pajholden]

I don't think it is a goal - more of a tool. Currently fiscal deficits are being used to stimulate and occasionally surpluses are used to slow things down in the good times - remember those? Problem is, budget surpluses are difficult for politicians to explain...

[maddi62]

Really? Dont governments have a target for this (ie zero). Surely that would make it a goal, maybe as well as a tool. Love your vids btw

[SadegoGG]

@pajholden

That's a load of crap. Go read the Constitution of the United States of America then look at the United States federal government spending. Social Security is illegal, income taxes go to the private banks, healthcare/medicare are unconstitutional, federal government educations is unconstitutional, national defense is only so high because of the illegal wars, government environmental policy is illegal, the federal reserve is unconstitutional.

That's why the US is in a deficit.

[rainingonshinygrass]

@SadegoGG

Economics is mainly theory - the idea is that wealth is redistributed fairly etc.. in the real world that doesn't always happen, which granted, sucks.

But that's life. And the video is helpful if you're trying to pass exams, so don't be mean.

[SadegoGG]

@rainingonshinygrass

So you are a tryer, meaning you are lazy and don't accomplish anything. You redistribute wealth meaning you are neither an atheist, a christian or a jew so you are most likely a muslim, etc...

So do you enjoy building torture rooms in the post office so anyone the government doesn't like gets tortured? How about the fact that the United States government is actually at a HUGE surplus and only lied about there debt and many states/counties are doing this also? You liberal.

[t1mon]

@SadegoGG you complete douchebag.. do you even know what these videos are for? It's a stepping stone for students or general people who want to learn about their economy... not specific details... just an over-view... again... you douchebag...

[SadegoGG]

@t1mon

Oh, it's theory that helps students understand how the economy works? Well, why don't the teach you the difference between the US economy prior to 1913 to post 1913. Just look at inflation rates since the federal reserve was adopted, the dollar has lost 90% of it's value and you can hardly raise a family of 5 on 2 mainstream jobs. Big government = corruption. Did they teach you history in school? Name one large government in the history of the world that has not become corrupt.

[t1mon]

@SadegoGG one word...syllabus... and he's mostly teaching the UK economic.. so I really don't know why your so hung up on the US economy and corruption when this video has NOTHING to do with any of that...again.. you really don't know the audience this video is for do you...

[SadegoGG]

@t1mon

Please send me a copy of the syllabus and source the individuals who comprised the curriculum. Oh wait, in both the US and UK the governments create the curriculum. So either way you are full of shit, and UK economics are similar to US economics.

[vmiahnum]

@SadegoGG

[rainingonshinygrass]

@SadegoGG

Firstly, you are absolutely and totally wrong. There is not one thing you mentioned in that god awful excuse for a comment that was right.

Half of economics is theory, it doesn't necessary happen in reality. No one is claiming that ANY Government is perfect, and honestly, don't you have anything better to do?Abstractly, an amount of wealth redistribution is a government target, depending on the political sway it can appear anywhere on the list in terms of priority....

[rainingonshinygrass]

@SadegoGG

... Also, don't you have anything better to do? This is a video designed so that people can learn the basics so they can pass exams. Idiot. Not for some paranoid list of conspiracies that have no substance.

[SadegoGG]

@rainingonshinygrass

Can you please tell me one thing I have said that has no substance? I am telling you nothing outside of the truth, and you are the sham. You are supporting children being brainwashed to accepting and appreciating a monetary system that allows the President to steal 23.7 trillion dollars from the American people in two months and give it to an unconstitutional organization and the private banks. The Federal Reserve is an illegal private business, and your supporting treason.

[rainingonshinygrass]

@SadegoGG

What? I've gone from a Muslim-Liberal to a Liberal-Non-true-Christian-tra­itor. Nice. If you want an example of lack of substance, there's your answer. Along with most of the content of your comments, as they appear to be paranoid rambling with no real sources other than your bigoted perspective.

These videos are useful to people who are preparing for exams, and it's a real shame that people like you have nothing better to do but criticise out of context in a very aggressive manner.

[SadegoGG]

@rainingonshinygrass

My source is David Manning. He's the guy who proved Obama was a CIA agent while he attended Columbia University in a court case that he won. You're the one teaching children that there is a limited supply of money, you don't teach anybody about making money, the school curriculum is unconstitutionally monitored and controlled by the same federal government that stole 23.7 trillion dollars from the American people, and you're telling me to sit back and watch society crumble.

[rainingonshinygrass]

@SadegoGG

Steady on batman.

[SadegoGG]

@rainingonshinygrass

Well, you just remember that government has killed over 200 million people in the last 100 years, and over 90% of that was funded by the same private banks you want children to worship. Your actions are less than human, scum.

[SadegoGG]

@bloobloo777

So I should worship the government for killing 200 million people? I should worship the federal reserve that steals 10s of trillions of dollars from the American people?

Do you hate humanity or something?

[bloobloo777]

@SadegoGG

no one cares? im trying to learn economics u ass. go have a cry ffs

[SadegoGG]

@bloobloo777

Well your little socialist teacher is teaching you the economics that took the United States from the most powerful country in the world, with more wealth than the entire world, to what it is today. Before that, the United States operated closer to free market economics. If you really want to learn economics you should study free market economics and the Constitution, rather than worship the Federal Reserve, who steals 10s of trillions of dollars from the American people.

[rainingonshinygrass]

@SadegoGG

Oh and one more thing - I'm not a muslim and I'm certainly not a Liberal - the two don't tend to go together anyway so get your facts straight. I think it's sad you can't formulate an argument without making ridiculous sweeping generalisations.

And I think it's hilarious that you're accusing me of being a Liberal when you're the one having a bleeding heart about 'torture rooms' and imaginary government 'surpluses' that are not existent. Grow up.

[SadegoGG]

@rainingonshinygrass

If you do not base your political views on Consittutional law and free market economy, you are a liberal. Also, a true Christian would never accept liberalism. Taking money from the middle class and rich then giving it to the poor doesn't fix ANYTHING. It's a short term boost, but it's well outside of the Constitutional limitations of the federal government. Federal aid creates MORE POVERTY.

Go read the comprehensive annual financial reports, and you will see your a hoax.

[sunflwrful]

Well, your instruction tops the text book. Keep on filming you are contributing to my studies. California, U.S.A.

[raiitaly]

YOU ARE THE MAN!!!! USA NEW YORK

Giuseppe A. R

[MilenaTsi]

That's coz you're awesome at what you do! As we say in Russian, Molodets.

I live in Australia, the day before my last Economics Exam, and I finally understand, confident I can come out with a 70% maybe 76% where it would start scaling...

Thank you!

[psk270185]

greetings from India.I am doing an MBA in Finance.

You really make micro and macro economics very easy and interesting.

Thanks a lot.

[ingonowottny]

great lessons! wish this guy was my college professor. but, i thought the govt wants inflation because it makes paying off their debt more affordable such as the u.s. it also makes paying off social programs like social security and medicare easier. many other reasons too!

[AFRIKTODAY]

Did you just say low price inflation? Inflation is the increase of the money supply by government or any other banking system. In the fiat money fractional reserve banking system, inflation is therefore a constant! That's why the value of any fiat money continuously decrease year after years worldwide and why paper money always crashes historically!

Also, the citizens, individuals not the government are the economic actors whilst government restrict economic activity with taxation & regulations.

[MrAbdurhman]

That was really very helpful and stright forward, I don't know why other economic teachers fail to explain these simple concepts in a similar way!!! Offcourse this short vedio does not cover all the details, however, it provides a start point where the learner can approach other detailed materials with the confidence of knowing the main idea, which is very essential.

Thank you for your valuable work.

[pilotqatar1]

I am learning allot from you

Hellow from Qatar

[bjmccullough]

you educate me so well...thank-you so much...you make me better

[hotiscute]

Greetings from Hong Kong:) I've gone through some other videos by American economists but they focus too much on the states' domestic policy, which is very natural but that makes macroeconomics more complicated for beginner like me. Your vids focus more on theories and that's really helpful! Thank you very much!

[simendesign]

u get better and better!

greetz from germany ;-)

[vincheska]

U know I paid a university 13800 pounds for MBA course the 2 hour lecture of our professor could not explain what Prof. Holden has explained very clearly on macro economy.Thank you so much for your videos.....Truly very useful and informative

[Negilam]

Excellent videos. You have a outstanding ability to explain things in a straightforward way. You make Macroeconomics interesting

[bullpies]

thanks a lot man very informative

[mindauggas]

very informative videos ... very very good ... it's sad however that i learn more at home than in the university ... but i dont mind as long as i gain more knowledge about the world ... so thanks a lot ! fantastic videos !

[MattNevett]

these videos are great, i think all teachers should reccomend you as a way for students to revise in a different way

[willumus]

Thankyou so much for all your videos they are very helpful, if only i'd known about them in year 12!!

[sanzaidi]

Awesome videos, thanks a lot...

Karachi, Pakistan

[pureevilsheep]

thank you for your videos you have saved my life

a better way to word those goals would be stable inflation and balanced trade balance :)

[dudettemaz]

LOL! i agree- mr holden is a hero!

Thanks!

From Bristol- UK :)

[lellabella2]

thank yoooooooooooooooooh :D

we love u here in Bahrain :)

[torontogal100]

Excellent video. Studying for an ecomonics exam next week.

[nonnetheman]

Thanks from Denmark

[redmanPH]

many thanks, this one coming from Manila! :)

hope you can do something about labour markets. i know a week is prolly asking too much, but that's how long till my finals come around :(

[booshmcmb]

easy Phil

sort me a dvd blood, this is good stuff.

i give you 6 quid, honestly.

not a penny more mind,

im running a budget deficit as it is.

in a bit!

[femenime8star]

love it!!!!

hope to see further topic !!!

thanks!

:)

[lavenderroad1]

Thank you so so much !

All videos you made are absolutely amazing, I have learned so many things and you are so GREAT than any lectueres at my university,

Looking fwd to next video!!

From Japan

[Izzygp]

THANK YOU SO MUCH!!!!!!!!!!!!!!!!

This was fantastic.

From South Africa

[lalalalaura8]

thank you! =]

[ibbotl]

i moved my mouse rong and it gave you one star rating :'(

you deserve like a hundred :D

[Lucas01wesley]

Some man for one man. Really appreciate these vid's.

[u01rit8]

Phil Holden what a guy! I want to say that my Economics class at the University of Aberdeen think your work is nothing short of breath-taking - Good on ya>>>> thanks for all those videos

[CaptainStack89]

Haha, nice to see someone else from Aberdeen watching these. Revising from these videos for tomorrow's exam! Phil Holden is a hero.

[giselepaludito]

thanks so much for all these wonderful videos :)

[qodir]

appreciate your work..looking forward your new lectures....

[murcork]

Thank you, cit cork Ireland love your videos!!!

[msjantong]

you are absolutely amazing

AMAZINGGGGGGGGG!!!!!!!!!!!!!!!­!!!!!!!

thanks so much!

[2007parsa]

millions thanks, in " real term" without " illusion"

The Charity of knowledge is sharing it with others.

[smokes90]

very enjoyable.. my economics teacher better watch out lol

[dispense1983]

I'll second that!! haha!!

[kaiservorhaut]

just to let you know, bath university first years think you're an economic messiah right now during exam period. ;)

[pajholden]

that's good to hear as I went Bath for my PGCE some years ago... I lived in Larkhall and enjoyed a pint at the 'Couer de Lion'. Probably spelt that wrong, but my spelling was never strong - especially after an evening at the Couer de Lion.

[kaiservorhaut]

@pajholden - how strange, i lived in larkhall too! practically opposite the larkhall inn.

2 years on from this comment, just wanted to let you know i got a first on that exam! thanks for your help.

[borlikesutube]

@kaiservorhaut .. economic messiah .. :D .. i love the term ;D

[CharltonWH]

Very precise and to the point thank you

[thomuk2006]

thanks!, a student from the Univeristy of Southern Denmark! Exam tomorrow, hopefully this late night revision will help. well thanks again!

[kapiljagdale]

Thanks, your video helped me clear my exams on micro economics

[kapiljagdale]

*macroeconomics

[alexbl]

thanks for your videos, they are great!

[ayt1453]

i am from Turkey; i derived much benefits from your videos, thanks for useful and helpful lectures.

[twanghang]

Great job, mate!

Just another Yank checking in from Tennessee State University in Nashville.

[theoffspring007]

you're a good man

[cooolyh17]

Thank you so much!

-Majoring in Economics in Korea

[mudpuddlemermaid]

canada loves you

university of northern british columbia

prince george, british columbia

canada!

[shibamatachick]

I think you need to make a series and sell it.

Your explanations are clear, concise and relevant. : ) Thanks a lot. Exams today!

[lazoash]

Viewer from Miami, Fl. Born in communist cuba!

[shoesmercant]

a job well done

i wish i had you as a teacher of economics bucj i those days , when i was a student .

keep lecturing and videoing..!!

thank you

[jaywon06]

great stuff,

im from Washington state in the United States,

and i thank you for sharing your good lectures!

[rodferro]

thank you so much for your videos!

[typesomethinghere]

Thanks this really gave me a boost before my Macro exam. Keep it up you are great.

I'm still am getting stuck on formulas.

PS I'm at University of Sydney doing MBA and only just passed my maths GCSE and never did A levels, so again this helps so much.

[bingalee1]

hello my name is riley montgomery from Western Australia i have an exam tomorrow and i feel heaps better about it. you are a legend mate keep posting these videos.

[whothefucktookwong]

PAJHOLDEN you legend, thanks again for this fantastic video. can you PM me your email or someway i can contact you more easily? i have some questions i would like to ask you.

[ym314]

you are doing amazing job, and i can't thank you enough!