Your videos have taught me more in 5 mins than my economics professor has “taught” in a semester. I wish I was getting my money’s worth in college but no one cares anymore, especially the instructors.
A big thanks to Jacob Clifford. I am a high school senior and gave AP microeconomics 2023. Only self studied the entire syllabus and refered to your last minute reviews before exam. Plus, I had never studied Economics in any of my high school years. Just found this subject interesting and easily grabbbed a 5 on the exam. For those preparing for AP microeconomics: majority of the the things are based on common sense and general knowledge of how market works. Apart from that just follow this channel and remember the definitions and graph shifttings by heart and no one can take a 5 from you. Believe in yourself and you're gonne ace it with extreme ease. 🙂🙂🙂🙂✌✌
tomorrow is my test, this man's saved me through the whole year. made it so understandable and fun to learn economics. Def looking forward to a 4 or 5!
i really like how you explain what graphs are unlikely to appear, what parts of it are most important, what will likely will and will not draw, because that’s really important to know when you want to prioritize things to study I ask my econ teacher questions like that and he just tells me it’s all important and i should study everything which is really frustrating when i spend a lot of time studying something that will likely not really be used so this is very helpful
i never comment on videos but i have to say this probably saved me , i am dyscalculic and i have been studying for my economic class for my uni semester for 2weeks and it was never clear and my mind was all over the place , this gave me a CLEAR view of what i know and what i need to focus on tomorrow morning before my exam in the afternoon and prevented an anxiety attack that was building up
@ one chapter a day, but don’t try and read the whole chapter. lump the easier topics(elasticity, demand curves) together. you likely have to study around 15 chapters. look at the summaries and important concepts. i recommend openstax for this, and using economic calculators online until you grasp the math part. compile formulas and difficult concepts in a google doc(rly small font), print them out for your notes. i got EXTREMELY lucky, my final ended up only being three essay questions, my quizzes were open note, but that’s not the case for everyone.
This video provides a comprehensive review of the key microeconomics graphs, including production possibilities curve, supply and demand, cost curves, perfect competition, monopoly, and externalities. It emphasizes the importance of understanding the concepts of efficiency, surplus, and deadweight loss. Key moments: 00:00 Microeconomics covers numerous graphs, introducing concepts like efficiency, equilibrium, and surplus, crucial for understanding markets and trade. Understanding these graphs is essential for mastering microeconomics concepts and applications. -Efficiency, equilibrium, and surplus are fundamental concepts in microeconomics, illustrated through graphs like the production possibilities curve and supply and demand. -The importance of consumer surplus, producer surplus, and deadweight loss in analyzing market interventions such as price controls and taxes, impacting allocative efficiency and total surplus. -International trade impacts consumer and producer surplus, showcasing the benefits and challenges it poses, emphasizing the significance of total surplus in economic analysis. 05:02 Understanding cost curves in microeconomics is crucial for analyzing production efficiency and profit maximization. Marginal cost and average total cost are key indicators for decision-making in perfectly competitive firms. -Differentiating between per unit cost curves like marginal cost and average total cost is essential for firms to determine production levels and profitability. -Exploring the significance of long run cost curves and economies of scale provides insights into production efficiency and resource allocation in the long term. -Comparing cost curves between perfectly competitive firms and monopolies reveals how market structures impact pricing, production levels, and economic efficiency. 10:05 Monopolies are not allocatively efficient as they prioritize profit over producing what society wants. Understanding key graphs like Monopoly, Monopolist Competition, Price Discrimination, and Oligopolies is crucial for economics students. -Differentiating between Monopoly, Monopolist Competition, and Price Discrimination is essential for understanding profit and loss in economics. -Exploring the concept of Oligopolies and Game Theory, including dominant strategy and Nash equilibrium, provides further insight into market dynamics. -Transitioning to unit 5, the focus shifts to Labor Economics, examining concepts like minimum wage and perfectly competitive firms in the resource market. Generated by ai (some ai notes that might help :DD)
Hi, love your videos! Would you be willing to make videos on IB economics course? They’re very similar to AP but slightly different! Would highly appreciate it as I have a few of my fellow IB friends who watch your videos too. Thank you!
Hi Mr. Clifford! I'm taking AP Microeconomics this year. I was actually wondering if you were doing any before AP exam review sessions on TH-cam. I've seen Heimler's History do those last year and was hoping you'd do the same. If not, thank you anyways. Your videos are godsends :)
I'm British and this is very similar to what I have to learn for A-level which comes before University, I'm 18 what is this course he is teaching for the equivalent in America?
*When it comes to investing, I'm so ignorant about it, I hereby ask; What's your say or thought for anyone with over $20k looking for the best ways to make good returns off it? I will appreciate any help here on how to do this*
@Lucy Bernardi Interesting, I've always been fascinated with investing and I need to start now. Could you possibly give more information on your Investment Professional and how I can reach out to her?
Your videos have taught me more in 5 mins than my economics professor has “taught” in a semester. I wish I was getting my money’s worth in college but no one cares anymore, especially the instructors.
Really?
Oh I’ve been there and it really sucks, best wishes and great thanks to Mr Clifford 🫡🫡🫡👏🏼👏🏼👏🏼
Daaaaamnnn bro, that one is tough but I can relate tho 🤣🤣🤣🤣
I used to think like that. In fact, they have built a foundation for you so now you can understand this content easier and faster.
Macro is probably a entry level gen Ed class full of students who don’t care, so I’m not surprised it has a professor who doesn’t care
00:00 - Intro
00:37 - Production Possibilities Curve
01:34 - Supply and Demand
02:17 - Supply and Demand (Price Ceiling)
02:43 - Supply and Demand (Price Floor)
02:57 - Supply and Demand (Excise Tax)
03:26 - Supply and Demand (Trade)
03:57 - Elasticity
05:03 - Short Run Per Cost Curve
06:01 - Short Run Total Cost Curve
06:43 - Long Run Average Total Cost Curve
07:18 - Perfect Competition
09:22 - Non-Price Discrimination Monopoly
10:13 - Monopolistic Competition
10:48 - Natural Monopoly
11:13 - Price Discrimination Monopoly
11:35 - Oligopoly
11:55 - Labor Markets (Minimum Wage)
12:07 - Perfect Competition Resource Market and Firm
12:42 - Monopsony
13:40 - Externalities
14:39 - Lorenz Curve
They are very rough time stamps, but hope it’s helpful.
👑
rest in peace
Legend
Thank you very much man, Bless you
A big thanks to Jacob Clifford. I am a high school senior and gave AP microeconomics 2023. Only self studied the entire syllabus and refered to your last minute reviews before exam. Plus, I had never studied Economics in any of my high school years. Just found this subject interesting and easily grabbbed a 5 on the exam.
For those preparing for AP microeconomics: majority of the the things are based on common sense and general knowledge of how market works. Apart from that just follow this channel and remember the definitions and graph shifttings by heart and no one can take a 5 from you.
Believe in yourself and you're gonne ace it with extreme ease.
🙂🙂🙂🙂✌✌
You're a real one. I learned a semester's worth of econ in just a few hours and I just aced my final. Thank you, thank you, thank you
My AP micro test is next week, immediately after my APUSH exam so this was definitely needed.
YEP
tomorrow is my test, this man's saved me through the whole year. made it so understandable and fun to learn economics. Def looking forward to a 4 or 5!
GOOD LUCK MINES IN THE MORNNGGG
GOOD LUCK hopefully we both get 5's!!
Mines in t minus 2 hrs ahh
@@sadiemaxfield7566 HOW DO U THINK U DID??
@@rojinaadhikari4550 GOOD BRO I WAS SO NERVOUS but went great fr. u??
the exams tomorrow im cooked💀
LMAOO ME TOO BRO
Gl bro, i had to speedran the entirety of AP Microecon in a week (i will take it in abt an 1hr)
Nah me too its almost 1:00 AND IM CRAMMING. Just realized how little I know
update?
Us bro
Perfect timing on this one. Thanks as always Jacob you’re the man
i really like how you explain what graphs are unlikely to appear, what parts of it are most important, what will likely will and will not draw, because that’s really important to know when you want to prioritize things to study
I ask my econ teacher questions like that and he just tells me it’s all important and i should study everything which is really frustrating when i spend a lot of time studying something that will likely not really be used so this is very helpful
I'm done with school now, but as soon as the goat of economics posted another video I just had to watch it. The nostalgia was hard
thank you! everyone with upcoming micro tests needs to watch this, its extremely helpful and easy to understand.
i never comment on videos but i have to say this probably saved me , i am dyscalculic and i have been studying for my economic class for my uni semester for 2weeks and it was never clear and my mind was all over the place , this gave me a CLEAR view of what i know and what i need to focus on tomorrow morning before my exam in the afternoon and prevented an anxiety attack that was building up
17 days until my AP test and you just saved me. THANK YOU
haven't done like anything in my eight week online course and it's week six.... i think you're saving my life rn
I'm in the same boat as you except my class started two weeks later than yours so I'm on week 6 out of 8. How did you do, any tips?
@ one chapter a day, but don’t try and read the whole chapter. lump the easier topics(elasticity, demand curves) together. you likely have to study around 15 chapters. look at the summaries and important concepts. i recommend openstax for this, and using economic calculators online until you grasp the math part. compile formulas and difficult concepts in a google doc(rly small font), print them out for your notes. i got EXTREMELY lucky, my final ended up only being three essay questions, my quizzes were open note, but that’s not the case for everyone.
Exam is in 30 minutes, this channel goes crazy
I have 45 minutes left before I have to go to my AP exam!! Thank you so much!!
I’m highly thankful for having you, hope you get whatever you deserve
The angelic music that came in when showing MR = MC got a chuckle outta me good job
Micro AP this coming Friday 😱. Thank you so much for summing all the micro graphs!!!!! Luv ur videos!
This video was uploaded the day of my microeconomics exam that's insane
4 hours to my exam and TH-cam shows me this video
God is real
God can do miracles but sometimes for miracle to happen u gotta expose yourself to the suffering in search of miracle thats the beauty of God
My instructor is great but I'm so glad you made this video before I'm going to take the final!! Thank you, I love these videos :D
Graphs are the most struggling part for me in economics till date.
Graphs are the entirety of economics
its not that bad if u understand the concept and u draw each graph atleast like 10 times
Your videos are amazing. It really helps me make all the concepts clear. Economics is fun after watching your videos.
Thank you for everything this year! Wish me luck tomorrow!
THANK YOU FOR HELPING ME STUDY FOR FINALS
Best video ever. lots of love from Bangladesh.
This video provides a comprehensive review of the key microeconomics graphs, including production possibilities curve, supply and demand, cost curves, perfect competition, monopoly, and externalities. It emphasizes the importance of understanding the concepts of efficiency, surplus, and deadweight loss.
Key moments:
00:00 Microeconomics covers numerous graphs, introducing concepts like efficiency, equilibrium, and surplus, crucial for understanding markets and trade. Understanding these graphs is essential for mastering microeconomics concepts and applications.
-Efficiency, equilibrium, and surplus are fundamental concepts in microeconomics, illustrated through graphs like the production possibilities curve and supply and demand.
-The importance of consumer surplus, producer surplus, and deadweight loss in analyzing market interventions such as price controls and taxes, impacting allocative efficiency and total surplus.
-International trade impacts consumer and producer surplus, showcasing the benefits and challenges it poses, emphasizing the significance of total surplus in economic analysis.
05:02 Understanding cost curves in microeconomics is crucial for analyzing production efficiency and profit maximization. Marginal cost and average total cost are key indicators for decision-making in perfectly competitive firms.
-Differentiating between per unit cost curves like marginal cost and average total cost is essential for firms to determine production levels and profitability.
-Exploring the significance of long run cost curves and economies of scale provides insights into production efficiency and resource allocation in the long term.
-Comparing cost curves between perfectly competitive firms and monopolies reveals how market structures impact pricing, production levels, and economic efficiency.
10:05 Monopolies are not allocatively efficient as they prioritize profit over producing what society wants. Understanding key graphs like Monopoly, Monopolist Competition, Price Discrimination, and Oligopolies is crucial for economics students.
-Differentiating between Monopoly, Monopolist Competition, and Price Discrimination is essential for understanding profit and loss in economics.
-Exploring the concept of Oligopolies and Game Theory, including dominant strategy and Nash equilibrium, provides further insight into market dynamics.
-Transitioning to unit 5, the focus shifts to Labor Economics, examining concepts like minimum wage and perfectly competitive firms in the resource market.
Generated by ai
(some ai notes that might help :DD)
I couldn't be more thankful for this video
Very useful as per usual with your Econ videos!!!
Hi, love your videos! Would you be willing to make videos on IB economics course? They’re very similar to AP but slightly different! Would highly appreciate it as I have a few of my fellow IB friends who watch your videos too. Thank you!
this video serves as a very easy to understand recap, thank you
jacob i missed u (watched u in hs and im now in uni) and i love u 😭
Wow sir
I was waiting for the new video.
You're always on point ☝️
Needed this, I have my final this week
omg my final is on thursday THANK YOU
Hi Mr. Clifford! I'm taking AP Microeconomics this year. I was actually wondering if you were doing any before AP exam review sessions on TH-cam. I've seen Heimler's History do those last year and was hoping you'd do the same. If not, thank you anyways. Your videos are godsends :)
Okay ..now I think I'm in love with this economic person....🌿
I don't know how this have 77.000 rewievs because it deserves a million.
I'm British and this is very similar to what I have to learn for A-level which comes before University, I'm 18 what is this course he is teaching for the equivalent in America?
Let's do this! We getting 5's :D
i hope we can do it 🙏🏻
My AP exam is this Friday. I'm having a mental panic attack, but I'm hoping that it goes well given the info I get from your channel. Wish me luck lol
How did it go?
how'd you do? mine's tmrw and i'm nervous af
I got a 4! I didn't even finish the multiple choice questions 😅
@@rojinaadhikari4550 I wish you the best of luck. Cram, take it, then Pat yourself on the back
@@brandiiiiine Thank you sm!! I'm just going to try my best :)
Oh my gosh, i had no clue if you fliped the graphs you could identify what market they WERE?!??
My IB test is next week, could you cover all the graph in IB course. Thank you alot!
Thanks big man
It really helped a lot
Good luck on finals!
Wow an interesting lesson ❤
how to find the shutdown point
Bless you sir ❤❤❤❤❤❤❤
It's great to know thank you
Legend. Thank you!!!!
Thank you so much
Thank for your video
Really wish I would have found these videos at the beginning of the semester rather than at the end studying for my final 🥲
i got 20 mins till my test am i cooked?
Any offer curves? Old school trade theory!
Exam Week...thanks dude
9:58 9:53 2:37 3:07 10:02 11:24
for some this man reminds me of Mark Cuban.... Jacob be the econ goat tho
Thank you.
THANK YOU!!!
*When it comes to investing, I'm so ignorant about it, I hereby ask; What's your say or thought for anyone with over $20k looking for the best ways to make good returns off it? I will appreciate any help here on how to do this*
@Lucy Bernardi Interesting, I've always been fascinated with investing and I need to start now. Could you possibly give more information on your Investment Professional and how I can reach out to her?
Will you come to my college and teach this?
love the haircut
My final starts in less than 2 hours lol!
haha same
How’d it go
@@yalta5060 pretty good
think i got like an 88 or 90
thank you clifford i will let you know how it turn out
DO NOT FORGET ABOUT INCOME AND SUBSTITUTION EFFECTS GUYS
Goodluck fellas
im not even taking ap i'm a british student but thank you kind sir for saving me
shouldn’t D=AR for the monopolistic and monopoly graphs, instead of MR
D = MR = AR
Willing to pay vs what they pay
Difference between prices ppl pay vs how much sellers want to sell it for
crazy to see how this channel has improved over the years. I do miss AC/DC Econ though.
Not all heroes wear capes 🥹
Just did my finials there were no graphs just theory's about the graph it was hard
Doing mine in the next hr
daddy cliff
the best!
2 hours to go…
thanks
GOAT!
4:30 diminishing returns
Wots the difference between variable vs marginal x_x
*People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in Bitcoin as it's retracing....BE WISE*
@Concilia Sunday That won't bother you if you trade with a professional like Mr Ray Dalio .
exam tomorrow inshallah at 8 am rn its 23 pm im so fucked
Exam in 3 days, i just opened my book wish me luck
God blesss youuuu
Please do oligopoly 😭
1 hour before the exam🫡
8:33
1 in the chat if your COOKED
1
1
1
1
1
I see this thumbnail in my nightmares.
Same
Ap exam tmrw 🙃
🇰🇪 ❤
exam in 30 min, man
The exam is after 2 hours im cooked
This hurts my brain lol
bruh Americans be doing this in college, got damn a levels
maita basas
🇿🇲🇿🇲🇿🇲😕✍🏽
That's too easy. I probably get five.
I'm cooked