@MiaGilaani I am sure that you found episodes 2-15 (Episode#1 doesn't exist, except for my students -- it's an intro to my course), they just don't say "Macro." That first block of videos are the basics for either macro or micro.
@mjmfoodie oh ok thanx, yea i found those, they didn't say macro so i assumed they must be all micro, im new to econ so can't really differentiate between micro n macro topics
Oh, there's no question that he CPI is a flawed measure, for many reasons - most basic principles textbooks have a section on this. But what I want to do is give people the basics of where these numbers come from . . . in my class, we conduct an experiment with a "typical" market basket, then each group does a rough estimate of it's own CPI. In the end, it's clear that individuals are affected quite differently than the national average CPI figure.
You want to give your students the most honest answers you can I'm guessing, I'd simply ask that you crunch the numbers for yourself. Inflation is generally supposed to measure a basket of goods to help measure cost of living. Choose a basket of goods yourself with 20 items, include food and energy based on the percentage they are for you currently for living. And track costs of that basket for the last 30 years. Then 50 if you can.
I actually did this. Gov CPI is WAY off. See for yourself
You are teaching incorrect economics. The Great Depression was lengthened by government intervention and caused by the central bank causing inflation(expansion of the money supply). The important point to remember is that the supply of money in an economy doesn't affect real prices it only affects nominal prices. When the central banks print money and cause inflation they wipe out the savers. Savings are what grow an economy. If nominal prices rise or fall that does not affect demand or supply.
@ecnerwal999 Hmmm - The Great Depression, to my understanding, didn't have only one single cause (which is why I introduce Smoot-Hawley as another contributing factor in a later episode), but rather a "Perfect Storm" of contributing factors, including a 40% reduction in the money supply.
If you check your statistics, you will find that the Great Depression was characterized worldwide by DEFLATION over the 1930s, not inflation - the only decade in the 20th century to exhibit this trend.
@mjmfoodie It certainly wasn't the contraction in the money supply that caused it. In fact, a contraction in the money supply strenghtens the currency and makes savings more valuable which is beneficial to the economy. Smoot-Hawley was a significant factor that contributed to the Great Depression. As i mentioned in my previous post "government intervention" lengthened/caused the Great Depression. Tarriffs are obviously included in government intervention.
@mjmfoodie President Hoover is portrayed as a follower of the free market. Hoover was actually an interventionist. He pursued many economic policies that weakened the free market. Roosevelt came along and doubled the size of government, increasing the amount of government intervention. Roosevelt(aided by Keynes) pursued extremely reckless fiscal policy. Roosevelt slaughtered pigs and destroyed crops to push the price of food up, to aid the farmers. He was destroying wealth.
@mjmfoodie It was Roosevelt who created make-work programs and interfered with the free market. If the free market was allowed to function then there would have been a severe recession for one year and then it would have been over. It lasted a decade because of all the government intervention. In 1920 there was a severe recession in the U.S. However, the government didn't interfere and it ended very quickly.
@mjmfoodie Now the question is why is there a severe recession in the first place. This occurs because of the easy money policies pursued by the Fed. The Fed artifically lowers interest rates and confuses the free market. Because of this, malinvestments are created and then a recession is necessary to fix the mistakes that occured because of the easy money policies.
You should rid yourself of the nonsensical Keynesian economics and learn about Austrian economics. Checkout mises.org
@ecnerwal999 So you propose that I shouldn't expose my students to various schools of economic thought -- I should only teach them the one that I think is "right"? If I don't explain the Keynesian perspective, how will they decide for themselves what's "right"?
@mjmfoodie You make good videos. I would ask you to keep them up. I'd also ask that you perform the math yourself for some of the common naysayer themes. They may not be always tactful, but I like to figure things out for myself and have found in many cases they are correct.
And that's after checking over my results three times over and getting 4 other people to confirm I wasn't forgetting anything. heh.
I am currently a student studying the Great Depression. Milton Friedman and Anna Schwartz provide a compelling argument for the causes of the Great Depression. They assert that a DECLINE in the money supply brought about the Great Depression, and statistical evidence supports this. Furthermore, the Federal Reserve did intervene, but failed to act as the lender of last resort.
@60058366 Everything should still be there - I don't post episode#1, because it' just me talking about my syllabus. Episodes#2-15 aren't designated "Macro" because they are common to both the Macro and Micro courses.
Wow!! I've watched a couple of your videos and i'm getting hooked on them already!! ;) They're great help, much better than my Macroecon class!! Thanks!!
umm.. where are the macro vid lessons from ep 1-15, cuz i searched ur channel and cudnt find them in ur playlist
MiaGilaani 3 months ago
@MiaGilaani I am sure that you found episodes 2-15 (Episode#1 doesn't exist, except for my students -- it's an intro to my course), they just don't say "Macro." That first block of videos are the basics for either macro or micro.
mjmfoodie 3 months ago
@mjmfoodie oh ok thanx, yea i found those, they didn't say macro so i assumed they must be all micro, im new to econ so can't really differentiate between micro n macro topics
MiaGilaani 3 months ago
This has been flagged as spam show
You can get the same result in percentage if you'd divide from the non-base CPI the subtraction generated by the old and new CPI.
untilitpasses 3 months ago
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untilitpasses 3 months ago
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untilitpasses 3 months ago
You have all my respect!
Roora555 4 months ago
i'm 12 and what is this
Letar001 9 months ago
thank you ^^
spirituelconnexion 11 months ago
I hate economics lol
disturbedshawn 11 months ago
@disturbedshawn y
MyMrwrestling 11 months ago
@MyMrwrestling
Its a class im taking that has nothing to do with my career choice.
disturbedshawn 11 months ago
THANK YOU SO MUCH FOR THIS VIDEO!
unrivaled37 1 year ago
This has been flagged as spam show
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Oh, there's no question that he CPI is a flawed measure, for many reasons - most basic principles textbooks have a section on this. But what I want to do is give people the basics of where these numbers come from . . . in my class, we conduct an experiment with a "typical" market basket, then each group does a rough estimate of it's own CPI. In the end, it's clear that individuals are affected quite differently than the national average CPI figure.
mjmfoodie 1 year ago
You want to give your students the most honest answers you can I'm guessing, I'd simply ask that you crunch the numbers for yourself. Inflation is generally supposed to measure a basket of goods to help measure cost of living. Choose a basket of goods yourself with 20 items, include food and energy based on the percentage they are for you currently for living. And track costs of that basket for the last 30 years. Then 50 if you can.
I actually did this. Gov CPI is WAY off. See for yourself
sirellyn 1 year ago
You are teaching incorrect economics. The Great Depression was lengthened by government intervention and caused by the central bank causing inflation(expansion of the money supply). The important point to remember is that the supply of money in an economy doesn't affect real prices it only affects nominal prices. When the central banks print money and cause inflation they wipe out the savers. Savings are what grow an economy. If nominal prices rise or fall that does not affect demand or supply.
ecnerwal999 1 year ago
@ecnerwal999 Hmmm - The Great Depression, to my understanding, didn't have only one single cause (which is why I introduce Smoot-Hawley as another contributing factor in a later episode), but rather a "Perfect Storm" of contributing factors, including a 40% reduction in the money supply.
If you check your statistics, you will find that the Great Depression was characterized worldwide by DEFLATION over the 1930s, not inflation - the only decade in the 20th century to exhibit this trend.
mjmfoodie 1 year ago
@mjmfoodie It certainly wasn't the contraction in the money supply that caused it. In fact, a contraction in the money supply strenghtens the currency and makes savings more valuable which is beneficial to the economy. Smoot-Hawley was a significant factor that contributed to the Great Depression. As i mentioned in my previous post "government intervention" lengthened/caused the Great Depression. Tarriffs are obviously included in government intervention.
ecnerwal999 1 year ago
@mjmfoodie President Hoover is portrayed as a follower of the free market. Hoover was actually an interventionist. He pursued many economic policies that weakened the free market. Roosevelt came along and doubled the size of government, increasing the amount of government intervention. Roosevelt(aided by Keynes) pursued extremely reckless fiscal policy. Roosevelt slaughtered pigs and destroyed crops to push the price of food up, to aid the farmers. He was destroying wealth.
ecnerwal999 1 year ago
@mjmfoodie It was Roosevelt who created make-work programs and interfered with the free market. If the free market was allowed to function then there would have been a severe recession for one year and then it would have been over. It lasted a decade because of all the government intervention. In 1920 there was a severe recession in the U.S. However, the government didn't interfere and it ended very quickly.
ecnerwal999 1 year ago
@mjmfoodie Now the question is why is there a severe recession in the first place. This occurs because of the easy money policies pursued by the Fed. The Fed artifically lowers interest rates and confuses the free market. Because of this, malinvestments are created and then a recession is necessary to fix the mistakes that occured because of the easy money policies.
You should rid yourself of the nonsensical Keynesian economics and learn about Austrian economics. Checkout mises.org
ecnerwal999 1 year ago
@ecnerwal999 So you propose that I shouldn't expose my students to various schools of economic thought -- I should only teach them the one that I think is "right"? If I don't explain the Keynesian perspective, how will they decide for themselves what's "right"?
mjmfoodie 1 year ago 8
@mjmfoodie You make good videos. I would ask you to keep them up. I'd also ask that you perform the math yourself for some of the common naysayer themes. They may not be always tactful, but I like to figure things out for myself and have found in many cases they are correct.
And that's after checking over my results three times over and getting 4 other people to confirm I wasn't forgetting anything. heh.
Either way, keep up the good work.
sirellyn 1 year ago
@ecnerwal999
I am currently a student studying the Great Depression. Milton Friedman and Anna Schwartz provide a compelling argument for the causes of the Great Depression. They assert that a DECLINE in the money supply brought about the Great Depression, and statistical evidence supports this. Furthermore, the Federal Reserve did intervene, but failed to act as the lender of last resort.
RusselPfan45 1 year ago
those videos are really helpful... i found out that macro previous episodes are no longer exist... can u upload thm again... thnkx in advance....
60058366 1 year ago
@60058366 Everything should still be there - I don't post episode#1, because it' just me talking about my syllabus. Episodes#2-15 aren't designated "Macro" because they are common to both the Macro and Micro courses.
mjmfoodie 1 year ago
@mjmfoodie thank a loooooooooooooot man
these are soo good than the stuff our lecturer say
bla bla bla
thanx a lot thumbs up
60058366 1 year ago
This has been flagged as spam show
@mjmfoodie thank a loooooooooooooot man
these are soo good than the stuff our lecturer say
bla bla bla
thanx a
lot thumbs up
60058366 1 year ago
@mjmfoodie who is the oreginal artist
i somehow cant find the song
60058366 1 year ago
i love your vids! thanks!
hotlikesummer 1 year ago
Thanks for your videos, they are excellent.
Agenericusername99 1 year ago
Wow!! I've watched a couple of your videos and i'm getting hooked on them already!! ;) They're great help, much better than my Macroecon class!! Thanks!!
israel1501 1 year ago