ECON 22060: PRINCIPLES OF MICROECONOMICS (KSS)

School: Kent State University

Number of Notes and Study Guides Available: 0

Videos

First Video In Our Three Part Series for Midterms
Intro to Economics: Understanding the Fundamentals of Spending

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Explore economics with a focus on scarcity, supply and demand, and elasticity. Gain practical insights into decision-making and economic principles that impact our world.

Scarcity: Balancing Infinite Wants with Limited Resources in Economics

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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.

Profit-Maximizing in Competitive Markets: Unraveling P=MC & Its Impact

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Discover the power of the profit-maximizing rule in perfectly competitive markets. Unearth how setting price equal to marginal cost optimizes consumer and producer benefits. Grasp the significance of this rule for societal resource utilization.

Barter to Money: How Double-Coincidence of Wants Evolved Trade

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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.

Economists' Diverse Views: Advising Policymakers with Perspective

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Explore the multifaceted role of economists in society, their interpretation of complex economic data, and how they provide guidance to decision-makers. Discover why economists may offer conflicting advice due to varying economic theories, data interpretation, personal values, and political ideologies.

Unraveling Economic Equations: From Price Level to Velocity of Money

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Discover how to calculate the price level and velocity of money using real-life data. Understand the relationship between money supply, GDP, and prices in the economy. Gain insights into the Federal Reserve's strategies for managing inflation and price stability.