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Uploaded on Oct 4, 2011
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This video consists of small snippets of story called no money island. This story is designed to be most innovative, efficient and effective way to learn basic concepts of Macroeconomics
In this 15 minutes video learner will learn about concepts of GDP, Nominal and Real Interest Rates and Ways to control Money Supply in the economy in an intuitive, interactive and engaging manner.
In this story the learner would see how king and his ministers have evolved the island's inefficient economy from an arcane barter system to robust and thriving economy by introducing the concepts of money, financial system, central bank and consumer price index.
The Story also shows how this island started trading with other nearby islands to harness its competitive advantage, how it evolved its exchange rate and balance of payment, how it started measuring economy's health and how it started differentiating between real and nominal values