Thanks! I really appreciate your kind words. On days when I'm feeling down, I will reread your comment and savor the thought "At least I have one friend"!
Khan Academy didn't get into this kind of stuff, so I had to turn here. Maybe they should hire you for their economics section so it can get a little more in depth. Great help!
+Phantom_Left That's very kind of you to say. and I agree! I'd love a teaching fellowship at Kahn academy or a similar place to finish up some of the content i can't seem to find time to produce.
Hey man, your videos are unparalleled, really well explained, easy to follow, easy to understand in Layman Terms, including the maths, really helpful and much appreciated for doing this. Keep up the great work, and you've gained a subscriber without doubt! Y2 Bsc Economics Cardiff University.
You are amazing economicurtis!!!!!!!!!!! I am your lifelong fan from now on........... I can see you've uploaded 122 videos.....I am going to go through all of them and I am supremely confident my concepts would be crystal clear...... Thanks a ton :-)
Study CFA L2 Macroeconomic growth theory when I got perplexed by jumping equations for steady state of growth, this video helped so much! Thanks a lot for the great video series!
I consistently find myself questioning why I pay University fees when I learn the majority of my course content from free online videos. Thank you sir.
Thank you so much. Your explanation is really clear and easy to follow. It helps me alot!!!! Wish you could make some videos on Ramsey and Romer model :D
20 minutes of these videos worth a lot more than a 2-hour lecture from our professors. thank you so much. although I still find it confusing regarding to break even investment. Does it mean that for Dk to be 0, sy=delta*k?
Will the capital/labor ratio converge to stead state k* (steady state capital/labor) with ANY PRODUCTION FUNCTION, or does this convergence just occur here in the case with the Cobb-Douglas where y*=Ak*^alpha? I ask this question because the concave curvature of the investment line seems to stem from the concave nature of the Cobb-Douglas production function, and it is this concave shape of the green line (in combination with the linear nature of the breakeven investment - yellow) that creates a situation in which K/L will always converge to k* if we start anywhere other than k* --- thus my question, would this convergence occur with any production function?
+Morgan Taylor Great question. I haven't touched this stuff in a year or two, but I'm pretty sure you're correct, the existence of a steady state level of per-capita capital does depend on a number of assumptions (in one of my more boring solow videos, I go over in detail all these assumptions). WIth a linear depreciation curve (uh, well, line), ss existence requires a concave production function. Otherwise, these curve will never intersect (more should be said there, but I'll leave it at that). There are more concave production function than the Cobb-Douglas, but it has some nice features that make it easy to work with. And then, the investment curve is just the production curve with a scaler (the saving rate), so you're right there.
+Morgan Taylor I think the solow dynamics will work only with a production function with a defined returns to scales schema and diminishing marginal utility. So, I believe these dynamics will work with a CES function too, I think that'll be easily observable with some calculus.
Hi, thank you so much for the videos, are definitly well done. I just have a question ... in the notaion for kapital at the steady state my prof is taking into account also the population growth... (in the denominator, summing to depreciation), why is she using a different notation? Thank you in advance...
I'm not 100% sure I follow the precise nuance of your question (notation for capital at the s.s. .... is taking into account also the pop growth...?). but I can tell you that in economics, there is by no means consensus on the correct notation to use. I designed these tutorial sections combining notes from three textsbooks (mankiw, blanchard and jones) and each book used slightly different notation for the same thing. later in the videos I also introduce notation for "per effective worker" that I don't think I saw anywhere but in these sweet MIT notes that summarized the solow-swan model. tl:dr in my experience notation varies depending on your prof and the textbook you use. if it's at all confusing, i'd suggest sticking with what your prof suggests (since that'll be on your exams) and perhaps focusing attention on what each term means (e.g. k-star in my notation is the steady state level of per-capita-capital) best o luck!
Since the time of HD there have been a lot of investment in terms of money wherein the LM of the productiin is the correct one which will cut the SS model at top if then there will be an equilibrium at the delusional capital value of SS model to the HD model.Hence,we obtain the curve equating GDP with the delusional capital model.Thus alongside the population there is a chance of spike and again convergence.
It's all MS word (insert objects to make those pretty pictures). MSWord has a pretty sweet equation editor too. In other videos I have more graphs showing transition dynamics, I used excel for all that.
Thanks so much. You make me have enthusiasm toward economics! it's really nice and neat. thanks again.! and what I really want to know is.. what sort of a software do you use for presenting Solow Model? Excel? or something else?
Your not accounting for changes in the quantity of affective labor.. it should be (rate of change of affectivity+rate of change of labor+depreciation)(k_t)
![[Live สด] การออกรางวัลสลากกินแบ่งรัฐบาล งวดวันที่ 16 ธันวาคม 2567](http://i.ytimg.com/vi/dNTiBBthKgQ/mqdefault.jpg)
Thanks! I really appreciate your kind words. On days when I'm feeling down, I will reread your comment and savor the thought "At least I have one friend"!
Khan Academy didn't get into this kind of stuff, so I had to turn here. Maybe they should hire you for their economics section so it can get a little more in depth. Great help!
+Phantom_Left That's very kind of you to say. and I agree! I'd love a teaching fellowship at Kahn academy or a similar place to finish up some of the content i can't seem to find time to produce.
I really can't thank you enough for these videos.
Hey man, your videos are unparalleled, really well explained, easy to follow, easy to understand in Layman Terms, including the maths, really helpful and much appreciated for doing this. Keep up the great work, and you've gained a subscriber without doubt!
Y2 Bsc Economics Cardiff University.
You are amazing economicurtis!!!!!!!!!!!
I am your lifelong fan from now on...........
I can see you've uploaded 122 videos.....I am going to go through all of them and I am supremely confident my concepts would be crystal clear......
Thanks a ton :-)
This is an excellent video series. Well organized, and very clear. Great work.
Study CFA L2 Macroeconomic growth theory when I got perplexed by jumping equations for steady state of growth, this video helped so much! Thanks a lot for the great video series!
Respect and regard for the infallible delivery of such tricky and conceptual content.
this man is a life saver
So helpful! My text book is pretty good but hearing another person explain the thoughts behind this gives me a much better understanding :)
Hey Curtis, I am taking an Advanced Macroeconomics course in the Spring of 2016 and I find your channel very resourceful. Thank you
I consistently find myself questioning why I pay University fees when I learn the majority of my course content from free online videos. Thank you sir.
Thank you!!! I think you just saved my midterm!!
Great content man! Definitely a lack of this on youtube
still saving lives 11 years later
Thank you so much. Your explanation is really clear and easy to follow. It helps me alot!!!! Wish you could make some videos on Ramsey and Romer model :D
Amazing series, thank you so much. It would be an excellent resource if you also uploaded the notes you wrote while making it. Thank you again
thanks a lot, very helpful to study before the exam
Your welcome, happy it helps.
man this is great. a lot of help for my macro. thank u. subscribed keep them comming
just told my study mates about your channel.
Yeah! I'll transfer them to pay for my tuition!
very clear, thank you! is there any chance you could briefly explain conditional and absolute convergence in the comments section?
you are so good at teaching~!! thanks a lot
thank you very much. Your videos are really helpful
You are awesome! why did you stop making more videos? Can you please make a video for the . Ramsey-Cass-Koopmans Model ? cheers.
very informative. excellent
20 minutes of these videos worth a lot more than a 2-hour lecture from our professors. thank you so much. although I still find it confusing regarding to break even investment. Does it mean that for Dk to be 0, sy=delta*k?
Thanks for the video, it's very helpful.
No no no, thank you for your kind words!
Just word and excel. Thanks!
Will the capital/labor ratio converge to stead state k* (steady state capital/labor) with ANY PRODUCTION FUNCTION, or does this convergence just occur here in the case with the Cobb-Douglas where y*=Ak*^alpha?
I ask this question because the concave curvature of the investment line seems to stem from the concave nature of the Cobb-Douglas production function, and it is this concave shape of the green line (in combination with the linear nature of the breakeven investment - yellow) that creates a situation in which K/L will always converge to k* if we start anywhere other than k* --- thus my question, would this convergence occur with any production function?
+Morgan Taylor Great question. I haven't touched this stuff in a year or two, but I'm pretty sure you're correct, the existence of a steady state level of per-capita capital does depend on a number of assumptions (in one of my more boring solow videos, I go over in detail all these assumptions).
WIth a linear depreciation curve (uh, well, line), ss existence requires a concave production function. Otherwise, these curve will never intersect (more should be said there, but I'll leave it at that). There are more concave production function than the Cobb-Douglas, but it has some nice features that make it easy to work with.
And then, the investment curve is just the production curve with a scaler (the saving rate), so you're right there.
+Morgan Taylor I think the solow dynamics will work only with a production function with a defined returns to scales schema and diminishing marginal utility. So, I believe these dynamics will work with a CES function too, I think that'll be easily observable with some calculus.
What is the name of the program you are using to make the diagrams etc.?
Hi, thank you so much for the videos, are definitly well done. I just have a question ... in the notaion for kapital at the steady state my prof is taking into account also the population growth... (in the denominator, summing to depreciation), why is she using a different notation? Thank you in advance...
I'm not 100% sure I follow the precise nuance of your question (notation for capital at the s.s. .... is taking into account also the pop growth...?).
but I can tell you that in economics, there is by no means consensus on the correct notation to use. I designed these tutorial sections combining notes from three textsbooks (mankiw, blanchard and jones) and each book used slightly different notation for the same thing. later in the videos I also introduce notation for "per effective worker" that I don't think I saw anywhere but in these sweet MIT notes that summarized the solow-swan model.
tl:dr in my experience notation varies depending on your prof and the textbook you use. if it's at all confusing, i'd suggest sticking with what your prof suggests (since that'll be on your exams) and perhaps focusing attention on what each term means (e.g. k-star in my notation is the steady state level of per-capita-capital)
best o luck!
Since the time of HD there have been a lot of investment in terms of money wherein the LM of the productiin is the correct one which will cut the SS model at top if then there will be an equilibrium at the delusional capital value of SS model to the HD model.Hence,we obtain the curve equating GDP with the delusional capital model.Thus alongside the population there is a chance of spike and again convergence.
hey thank you,this is was just what I needed to solve my assignments better!!!!! :-)
What software are you using? Amazing work btw.
Can you show absolute and conditional convergence, as well as the Speed of Convergence? :) Thanks
Dear Friends, Could you explain the meaning of Depreciation rate of this model?. Thank you.
wrt to this model, what is the difference between equilibrium and a steady state?
Thank you very much!
can you do ramsey model ?
Thanks very much! It is really helpful!
I love econ!!!
sorry, can you given example about convergence?
KING!
hey, what kinda software are you using for this? think it's really cool!
It's all MS word (insert objects to make those pretty pictures). MSWord has a pretty sweet equation editor too. In other videos I have more graphs showing transition dynamics, I used excel for all that.
Thanks so much. You make me have enthusiasm toward economics! it's really nice and neat. thanks again.!
and what I really want to know is.. what sort of a software do you use for presenting Solow Model? Excel? or something else?
Fra Di Looks to me like MS OneNote
Bam! Thank you!
(plus, you can pause me, rewind me, and skip me!)
totally helpful! thank u
thanks!
Thank you !!!!
So this is not absolute convergence, but conditional convergence?
thank you!!!!!!
Should we not include population growth while calculating the steady state capital requirement.
If only we had his brain for the exam!
Great vids but make playlists.
Your not accounting for changes in the quantity of affective labor.. it should be (rate of change of affectivity+rate of change of labor+depreciation)(k_t)