ECON 102: Introductory Microeconomic Analysis and Policy

Unpack the significance of GDP per Capita and Labor Productivity in economics. Learn how these indicators reflect a country's living standards and labor efficiency. Grasp the relationship between these metrics and the broader economic landscape.

Discover the pivotal role of assumptions in economics as we navigate the challenges of studying intricate market behaviors and human actions. Unveil how these simplifications foster comprehensive economic analyses and predictions.

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.

Discover the intricate workings of a market economy, highlighting its notable advantages such as efficiency and innovation, and addressing the critical challenges like income inequality and market failures. Understand the balance between market and non-market elements in global economic systems.

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.

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.