EC 202: Introduction to Economic Analysis: Macroeconomics

Discover the intricate components of an economy, including savings, budgets, and trade balances. Learn how these elements interconnect and influence private investment. Understand an economic identity that determines an economy's investment levels.

Explore how elasticity of demand impacts gains from trade in economies. Understand the relationship between demand elasticity and benefits for consumers and producers. Debunk misconceptions about inelastic demand and trade gains.

This video delves into the advantages of international trade, using the example of France's specialization in wine production, and explores different options while highlighting the concept of comparative advantage without revealing the ultimate answer.

Uncover the fundamental concept of economic resources and their pivotal roles. From land and labor to capital and entrepreneurship, grasp the intricacies that drive production. Experience an insightful look into the elements shaping our economic activities.

Explore the fundamental concept of scarcity in economics. Understand the tension between our infinite desires and the finite resources we have. Grasp how scarcity influences our choices, necessitating trade-offs in everyday decisions.

Grasp the essentials of price elasticity of demand through various calculation methods. Dive deep into the unique and consistent mid-point method, understanding its relevance in fluctuating markets. Learn its practical application in analyzing market dynamics.