0:40 - Inputs of Production (land, labour, capital) 2:30 - Labour markets 6:10 - *Production Function* (short run) ➔ 8:00 - graphing production function ➔ 10:00 - *Marginal Product of Labour (MPL)* ➔ 11:50 - MPL as the slope of the production function ➔ 12:05 - Law of diminishing marginal product ➔ 13:20 - Value of MP, VMP (aka marginal revenue product) = ∆MP x price of product ➔ 18:20 - Comparison: Value of MP vs Cost 19:50 - *Labour Demand Curve* (graphing VMP against Labour; VMP as the demand for Labour) ➔ 22:55 - Shifters of labour demand curve 30:20 - Individual worker’s calculation (wages vs leisure) 33:55 - Shifters of *Labour Supply Curve* 37:50 - *Labour Market Equilibriums* ➔ 45:25 - interlude about non-perfect labour markets (Monopsony) 47:50 - *Land and Capital* added these timestamps for my own reference but hopefully someone else finds it useful!
I really appreciate the way you explain these subjects. You’re fairly interesting as a person, your writing is clear, and your examples are relatively close to my life. For instance, I was thinking about trucking as a career a while back, and you gave a trucking example. I’m unable to read and understand most textbooks, so this helps me a ton. I’m confident my Econ final will go well after seeing this!
i have been watching these videos from day one and i am very greatful, currently studying for my finals thanks i know i will do well because of your explanations God bless you
Thank you so much for uploading your videos. I take online classes but am a visual learner. I could not have understood microeconomics if it had not been for your videos. I am still having to do chapter 19 and 20, you wouldn’t by any chance have those to upload would you’ll you?
Hi Sara! I'm very happy that the videos have been helpful. Unfortunately, I don't have either of those chapters ready to go right now. I'm hoping to put those together in the future, but it won't be in time to help you right now.
Hi Dr, Thank you for the amazing work. I couldn't find episodes 19-20 on your channel. If I'll skip right to 21, it will be a problem? I'm learning from scratch, which means that if those lessons contain subjects which are critical for the logical undarstanding of the subjects that are being taught on the next lessons, I won't be able to study them properly. Thank you again. best regards from Israel.
![เปิดคำทำนาย นอสตราดามุส - บาบา วานก้า ปี 2025 คนทั่วโลกต้องเจออะไรบ้าง? | แฉ 11 ธ.ค. 67 [2/3] |GMM25](http://i.ytimg.com/vi/xmTIKWJUMPM/mqdefault.jpg)
0:40 - Inputs of Production (land, labour, capital)
2:30 - Labour markets
6:10 - *Production Function* (short run)
➔ 8:00 - graphing production function
➔ 10:00 - *Marginal Product of Labour (MPL)*
➔ 11:50 - MPL as the slope of the production function
➔ 12:05 - Law of diminishing marginal product
➔ 13:20 - Value of MP, VMP (aka marginal revenue product) = ∆MP x price of product
➔ 18:20 - Comparison: Value of MP vs Cost
19:50 - *Labour Demand Curve* (graphing VMP against Labour; VMP as the demand for Labour)
➔ 22:55 - Shifters of labour demand curve
30:20 - Individual worker’s calculation (wages vs leisure)
33:55 - Shifters of *Labour Supply Curve*
37:50 - *Labour Market Equilibriums*
➔ 45:25 - interlude about non-perfect labour markets (Monopsony)
47:50 - *Land and Capital*
added these timestamps for my own reference but hopefully someone else finds it useful!
I really appreciate the way you explain these subjects. You’re fairly interesting as a person, your writing is clear, and your examples are relatively close to my life. For instance, I was thinking about trucking as a career a while back, and you gave a trucking example. I’m unable to read and understand most textbooks, so this helps me a ton. I’m confident my Econ final will go well after seeing this!
I'm glad to hear the videos have helped you! Good luck with the final!!
i have been watching these videos from day one and i am very greatful, currently studying for my finals
thanks i know i will do well because of your explanations
God bless you
You’re welcome! I hope you do great on your finals!
You are a life saver, sir.
Glad to help!
Спасибо!
Thank you! Thanks for watching!
Excited to watch this and learn!! Thank you!!
You're welcome! I hope the video helps.
Best Microeconomics lecture
Thank you so much Sir! Love the way you explain things. Lots of respect, love and good wishes from India. ❤
Your way of teaching is really awsome and helpful
Happy to help! Thanks for the kind words.
Thanks sir ...very good explanation....good video 🎉🎉
Beautiful and very useful video.
Really appreciate your effort 🙏 God bless you
Thanks! Happy to help!
thank y6ou sir. Keep looking forward
You're welcome! New video coming in a week.
Amazing! that is the same quality lecture as first year program at my economy university
seems I had I chance to save money ahaha
Glad you're able to use the lectures!
sir I would like to ask about the wages. Is the amount of wages still would be the same regardless the number of labor ? Thank you
Thank you so much for uploading your videos. I take online classes but am a visual learner. I could not have understood microeconomics if it had not been for your videos. I am still having to do chapter 19 and 20, you wouldn’t by any chance have those to upload would you’ll you?
Hi Sara! I'm very happy that the videos have been helpful. Unfortunately, I don't have either of those chapters ready to go right now. I'm hoping to put those together in the future, but it won't be in time to help you right now.
Hi Dr, Thank you for the amazing work. I couldn't find episodes 19-20 on your channel. If I'll skip right to 21, it will be a problem? I'm learning from scratch, which means that if those lessons contain subjects which are critical for the logical undarstanding of the subjects that are being taught on the next lessons, I won't be able to study them properly.
Thank you again. best regards from Israel.
I'm hoping to make videos for those topics in the future, but I don't have anything yet. For now, skipping those will not hurt you at all. Good luck!
I want university notes on the factors of production and determining the market for my research🌝
...in the table, the column 'wages', should be labeled ' marginal wages'...
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