No revise until your hair falls out and then it’ll be worth it when you work a 60k salary monotonous boring office job after 24 hard years of studying yhyhyhyhyh
You have saved me and put my lecturer out of a job! Your explanations are so clear and detailed. The videos are perfect for my third-year economics classes. :D
3rd year?? Wow. I am currently completing my phD in Economics and social policy and we have only just started learning this. Your class must be very smart!
Remember while studying keynes AS that it was develop during great depression and to explain failure of classical theory in depression. So that you can understand it better why keynes talked this idea of AS. “ monetary authorities and govt have to do something in short run otherwise Long run never come “ John keynes , 1933
So Keymesian model just combines SRAS and LRAS into one? Seems to me like classical interpretation is more useful for considering smaller periods of time, and Keymesian otherwise.
General Price Level is the measurement of overall prices, so is reliant on inflation to increase or decrease, inflation means rising prices means rising price level
In this video you say that SRAS may change because of COP rising or falling and you said that SRAS may be shifted because of wages, I watched your other video where you say that in the SR wages are fixed, I'm a lil bit confused about whether it shifts SRAS or not @EconplusDal
They’re supposedly fixed, but if you think about it, we’ve seen it happen live throughout the pandemic, people have had to take pay cuts etc or have been made redundant, this would be to cut costs as the wages aren’t as affordable without business performance, someone can correct me if I’m wrong, but the logic is there, I think it’s more of an assumption that wages are fixed, you’ve gotta remember there are so many assumptions in economics, Such as the assumption that consumers are thinking rationally and wish to maximise their private benefit, yet you have to ask yourself, do all consumers actually act rationally? Fuck no lol
not necessarily, if you shift left or right on a keynesian as curve that implies a change in the productive capacity of the economy, but a short run change such as a change in oil prices wouldn't shift lras. Actually I don't know for sure, I just had some faint memory from y11.
Hey , aggregate supply is the total amt. Of goods and services that are produced and supplied in an economy . Or Aggregate supply is the total amount that all the entrepreneurs in an economy taken together must receive at given level of employment. So these both are correct and same or they are different Please clear my doubt... It looks like you have understood
"11:00" There could be a pandemic" EconplusDal predicted the future...
he probably is working with the simpsons hahaha
Not the first time he’s done this brow
my exact thought
bruh I was just about to comment that XD
I was just about to check because I knew someone would've mention it aha
Not all heroes wear capes
Remember friends, in the long run we are all dead.
I prefer, In the long run we are all bread
Looking at it now, u were right my man (CORONA)
BAHAHAHA
Nig(g)ar
No revise until your hair falls out and then it’ll be worth it when you work a 60k salary monotonous boring office job after 24 hard years of studying yhyhyhyhyh
I was just looking for this video and dal dropped it 3 minutes ago. This guy...
That's the universe looking out for man :)
MY guy was talking about pandemic in 2017!!!!
lol pandemic where have I heard that before
HMMMMM
⊙﹏⊙
Looked in the comments as soon as he said it🤣
You have saved me and put my lecturer out of a job! Your explanations are so clear and detailed. The videos are perfect for my third-year economics classes. :D
no way this is university level, im 16 and im studying this at high school
@@GgGg-tz1tl I WAS ABOUT TO SAY CUZ SAME
@@GgGg-tz1tl Yeah right? This is a crazy comment. This stuff is Y1/ prerequisite Uni level because beyond that it's mostly mathematical modelling/
3rd year?? Wow. I am currently completing my phD in Economics and social policy and we have only just started learning this. Your class must be very smart!
this is gcse and alevel level, phd???
@@_trm_4339
11:56 it could be a pandemic... me studying for my exams during a pandemic🤡
Econplusdal and chill anyone?
BRILLIANT IDEA ;)
Bit sus
This man is a freaking genuis
11:52 cracked me up!
actual savior of ECO HL IB students.
Seriously you're GOD
please make a video on the price mechanism
econplusjesus indeed
I cannot Thank you enough for your videos !
yes daddy dal x
Remember while studying keynes AS that it was develop during great depression and to explain failure of classical theory in depression.
So that you can understand it better why keynes talked this idea of AS.
“ monetary authorities and govt have to do something in short run otherwise Long run never come “
John keynes , 1933
Excellent class, thanks,
NOT HIM PREDICTING THE PANDEMIC
Thanks Vick star
This guy is a legend 😁😁
could you please do another UK economy key data video for 2017 before the start of May before our exams start
Thankyou so much 🙏🏿
So Keymesian model just combines SRAS and LRAS into one? Seems to me like classical interpretation is more useful for considering smaller periods of time, and Keymesian otherwise.
Thank God I looked at this last minute.
Great video. U r a genius
i thought that factor prices are fixed for SRAS, so how does cost of production change?
Have u found the answer to ur question? As I also thought the same.
Not all costs are fixed in the short run. There are variable costs eg cost of production which changes accoring to output level.
its more to do with the fact that the shape of the SRAS curve is based on fixed factors of production but when they change, it causes a shift in sras
Nice vid
Thank you so much!!! This really helps!!!
Yeah it probably could be a pandemic
Great explanations
so clear.thats awesome Sir
Thanks dude!
Can someone tell me is fascal policy removed from the As level economic syllabus???
Thank you!
Can you make a video regarding the IB econ ee in economics please :)
Excellent!!!!!!i love this video
amazing video!
Wow there are some nice bird calls in this video dal
Hi Dal! Great video! In the U.K. Context isn't the y axis inflation instead of price level?
General Price Level is the measurement of overall prices, so is reliant on inflation to increase or decrease, inflation means rising prices means rising price level
Does the legend reply ???
Hi, Can you refer some good books to study from for macro economics?
for a level get the cgp alevel economics book
So what is Y1?
Dope video
very good video
Bro predicted the pandemic
Thanks!!!!
EXAM IN 2 DAYS LESGOOOO
@@jamesedwards3301 huh?
In this video you say that SRAS may change because of COP rising or falling and you said that SRAS may be shifted because of wages, I watched your other video where you say that in the SR wages are fixed, I'm a lil bit confused about whether it shifts SRAS or not @EconplusDal
They’re supposedly fixed, but if you think about it, we’ve seen it happen live throughout the pandemic, people have had to take pay cuts etc or have been made redundant, this would be to cut costs as the wages aren’t as affordable without business performance, someone can correct me if I’m wrong, but the logic is there, I think it’s more of an assumption that wages are fixed, you’ve gotta remember there are so many assumptions in economics, Such as the assumption that consumers are thinking rationally and wish to maximise their private benefit, yet you have to ask yourself, do all consumers actually act rationally? Fuck no lol
Is impose of indirect tax will case SRAS decrease or AD decrease ?
Macro is so much more difficult for me to understand 😊
What's WIDEC? Because every time I replay, I hear "Imports cheap, imports dear"
Where Imports Dear, Exports Cheap.
weak pounds imports dearer, exports cheaper
@@kavinaa9398 thanks but i graduated 4 years ago
@@marathesayu well done i got my exam tommoz
@@kavinaa9398 Good luck you x
So in like a normal question would I use the SRAS curve to like explain my point or LRAS or both
Legend
Being up ecom
hey! Can you upload a lecture on LM curve full approach for income and employment?
Gains
plz tell shortcut full term SPICED And WIDEC
Strong Pound Imports Cheap Exports Dear (expensive) and Weak [pound] Imports Dear (expensive) Exports Cheap.
the goaaaat
If you have a change in Costs of Production, how would you represent this on a Keynesian diagram? Can you?
Aadithya Ganeshram yeah you just shift the AS to the left
Wouldn't it be a shift up?
brah there is no such thing as shift up. its either to the left or the right
not necessarily, if you shift left or right on a keynesian as curve that implies a change in the productive capacity of the economy, but a short run change such as a change in oil prices wouldn't shift lras.
Actually I don't know for sure, I just had some faint memory from y11.
theres no such thing as short run on keynes as curve... its purely long run
At 11:00 dal Predicted covid 19 😂
GOD
Anyone watching 2017?
Josh Paulson 2020
@@will5723 2021
2022
2022 😂
Watching in 2023
7:04
Please come and be our teacher (International School of Manila)
You look like Vikstar123
15 mins blimey
ur cute bro
;)
Pandemic 😂
It feels like I am being taught by a panda
RUDE!!!!!!!!!!!!!!!!!!!!!!!!!!!!
college is a joke
Legend , King , hero, all hail Lord econplusdal the saviour of a-level economics
goat
not all heroes wear capes
2:33 Dal just predicted the cossie livie crisis
Perfect summarization. Greetings from Turkey!
yes Dal back with the videos keep it up!
marry me econplusdal
Forever on top 😤 thanks for everything dal
Hey , aggregate supply is the total amt. Of goods and services that are produced and supplied in an economy .
Or
Aggregate supply is the total amount that all the entrepreneurs in an economy taken together must receive at given level of employment.
So these both are correct and same or they are different
Please clear my doubt... It looks like you have understood
@@Chadgaming_911 I'm always eager to help young economists like yourself. The answer is the first one. Keep edging.
That's soooo greaaat.