I'm currently an Adjunct Assistant Prof. at Queen's University (Kingston, Canada). I use this channel mostly to upload videos for my first-year principles of economics class, second-year intermediate microeconomics class, as well as my third-year econometrics class.
Please feel free to leave suggestions or other comments.
My website: sites.google.com/site/michaelfbarber1/
This is crazy. I've repeated my lecturer's video several times but still can't get the idea. My assignment will due in two days and I am still struggling to complete it. Now I can finish it in less than 30 minutes. Thank you so much!
You have a remarkable ability to simplify complex concepts..... can't find any explainer of hal varian intermediate micro like you !!! hope you will teach the left over chapters of varian too 😊
Thank you! My Notes: 1. Newer growth theories view technological changes as endogenous, meaning growth related to these changes occurs within the model, not due to an external force. 2. Growth is achieved through risky and costly innovative activities that happen in the economy in response to economic signals like prices. 3. Sources of endogenous technological change: a. Learning by doing: becoming more productive as you do more of something b. Knowledge transfer: technology quickly travels worldwide once it appears in one place 4. Market structures and innovations: a. Oligopolistic and monopolistic competition may not be the most efficient market structures but can drive innovation and growth as firms pursue economic profits. b. Market structures can encourage firms to exploit economic benefits by inventing new technologies and products. 5. Shocks to the system, like the COVID-19 pandemic, can increase the development of certain technologies in response to the economic shock and price signals. 6. Newer growth theories also emphasize the possibility of increasing marginal returns to investment, where the next unit of investment is more productive than the previous one. 7. Reasons for increasing returns to investment: a. Market development: as industries become established, new skills develop that subsequent firms can utilize, and infrastructure improves, making investment more profitable. b. Knowledge transfer: unlike physical capital, knowledge and ideas can be used by many people simultaneously, leading to increased productivity. The newer growth theories focus on endogenous technological change and the possibility of increasing marginal returns to investment, which can lead to sustained economic growth.
you are amzing at teaching and explaining. thank you for making this videos. the only problem with the videos is that the audio quality is very bad, especially if english is not first language, it is very hard to understand because of the bakground noises. sorry
ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-2g0HjNTzqcI.html I'll hide this video...I think my students let me know about this before so I corrected it. Sorry!
Not an easy concept. Basically, it means a weighted average of two different bundles is at least as good as each of those bundles. For example: Lets say we have two bundles. Bundle A and Bundle B and they are both on the same indifference curve. If we make a new bundle, call it bundle C which is 50% of bundle A and 50% of bundle B, then bundle C is at least as good as bundle A or B (i.e. on the same indifference curve or a higher one). Strictly convex means that an average of two bundles is better than either of the two bundles...hope that is somewhat helpful...not sure it is!
Howdy! Do you happen to have a video on Chapter 7? Thanks so much! Great videos! I am currently taking economics classes in Mandarin Chinese and need all the help I can get. Interesting enough, they are using the Chinese version of Varian.
Hey nice explanation, thanks a lot , but I am still confused that why quasilinear function has been used for discrete goods , means for proving what ? Is it for determining marginal utility?
Glad the video was somewhat helpful. Maybe I don't remember this video that well, but I'm not sure I said anything about quasilinear functions and discrete goods in the video.
@@MichaelBarberEcon no no it wasn't in the video , it was in the varian textbook, just after this topic which I couldn't find in your playlist can you please provide the link for it , if available? Thanks anyways ,for this lucid explanation
@@anamaymishra3269 I just read that section of the book: the quasilinear utility function just means that the reservation prices for different amounts of discrete goods (r1, r2 etc here) do not depend on the amount of the other (non-discrete good). This makes demand easier to think about for discrete goods - just compare the price of the discrete good to the reservation prices to see how many of the discrete good they'd buy.
videos are very helpful but I noticed in most of your videos there's a lot of background noise of people talking which is distracting and makes your voice unclear.
Sorry - nothing much i can do...the recording area is next to a room that students are often using. I'll see if I can eliminate the background noise if I end up adding some more videos.
Your videos are so good and easy to understand. These videos have helped me a lot and I understood each and every concept .. Love your content ❤ keep making such videos Please also make videos on buying and selling and intertemporal choice😊
sorry,i couldnt get that in the last part we assume that income doesn't change with the income tax. How could that happen, doesn't income tax decreases our income?
Yes, I guess that's not clear. What I'm trying to say is that when we're comparing this quantity tax to this income tax here we're just subtracting the R*X1 off income to say the taxes get the same revenue. We are not changing the original "M" in the budget equation itself, which is kind of a simplification/abstraction of what is actually going to take place with an income tax.
