PreparED Study Materials
ECON 3: Introduction to Microeconomics
School: University of California Riverside
Number of Notes and Study Guides Available: 11
Notes
Study Guides
Videos
Price Elasticity: Mid-Point Method & Its Practical Significance
Want To Learn More? To watch the entire video and ALL of the videos in the series:
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.
Decoding GDP per Capita & Labor Productivity: Economic Insight Explain
Want To Learn More? To watch the entire video and ALL of the videos in the series:
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.
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.
Price Effect in Economics: Navigating Income & Substitution Dynamics
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the nuances of the price effect in economics, focusing on the income and substitution effects. Understand through real-life scenarios how these phenomena influence consumer spending patterns. Gain insights into the intricate dynamics of consumer responses to price shifts.
Ceteris Paribus: Simplifying Complex Economic Analyses & Predictions
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Discover the role of "ceteris paribus" in economics, a foundational assumption simplifying analyses. Understand its application in variable isolation, policy analysis, and model building. Gain insights into how economists use this tool for clarity in complex scenarios.
Lags in Monetary and Fiscal Policy Impact on Aggregate Demand
Want To Learn More? To watch the entire video and ALL of the videos in the series:
This video explores the causes of lags in the impact of monetary and fiscal policy on aggregate demand, drawing analogies to recognizing seasonal changes, adjusting cooking temperatures, and waiting for planted seeds to grow, and discusses the implications of these lags for the debate between active and passive economic policy approaches.