PreparED Study Materials
ECO 165: Principles of Microeconomics
School: Missouri State University
Number of Notes and Study Guides Available: 6
Notes
Study Guides
Videos
Explaining Economic Logic of Purchasing-Power Parity
Want To Learn More? To watch the entire video and ALL of the videos in the series:
This video explains the theory of Purchasing Power Parity (PPP) in economics, emphasizing how it relies on the "law of one price" and illustrating how exchange rates should adjust to equalize purchasing power between nations in the long run. It also demonstrates how price disparities for products like iPhones can lead to currency exchange rate adjustments and eventually equalized prices.
Elasticity & Trade: How Demand Shapes Economic Gains for Nations
Want To Learn More? To watch the entire video and ALL of the videos in the series:
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.
Barter to Money: How Double-Coincidence of Wants Evolved Trade
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the historical barter system and its challenges, particularly the double-coincidence of wants. Witness how the need for simpler transactions led societies from direct barter to embracing mediums of exchange like money.
5% Money Supply Boost: Impact on Aggregate Price & Inflation Explained
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Unravel the implications of a 5% money supply increase on the aggregate price level. Learn about the Federal Reserve's influence and the dynamics of demand, supply, and inflation. Grasp how changes in money supply can affect prices and economic balance.
Urban Development: New Cities' Impact and Equilibrium
Want To Learn More? To watch the entire video and ALL of the videos in the series:
This video explores urban utility curves, workforce dynamics, and the impact of creating new cities on growth and equilibrium, with a focus on the utility of workers.
Yen vs Dollar: Decoding Nominal vs Real Exchange Rates in Trade
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Grasp the distinction between nominal and real exchange rates, using the yen and dollar as examples. Learn how these rates influence purchasing power in different economies. Understand their implications in the global trade landscape.