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Videos from “intromediateecon” (25 video results)
In this video, I demonstrate a mathematical method for deriving a firm's cost function from a production function. I do so by example, using the example of a constant returns ...
In this video, I introduce the isocost-isoquant graph by relying on parallel concepts from indifference curves and budget constraints from consumer behavior. This graph ...
In this video, I use calculus and some basic algebra to augment the graphical intuition from Lecture 16 on compensating and equivalent variation. In particular, I demonstrate ...
In this video, I introduce two measures of consumer welfare: compensating variation and equivalent variation. In the process of introducing these concepts, I demonstrate ...
In this video, I show how to use the budget constraint to derive restrictions on income elasticities, and price elasticities. I only consider the two good case, but the ...
In this video, I use standard elasticity formulas to demonstrate the well-established fact that the economic incidence of a tax is borne by the group of market participants ...
In this video, I cover the basics of elasticities. In particular, I give an interpretation of elasticities, as well as a formula for computing them.
In this video, I clarify the role of diminishing marginal utility in the study of demand curves. In particular, I present a series of examples that demonstrate why diminishing ...
In this video, I offer a derivation of the Slutsky Equation (an equation that decomposes the Marshallian demand curve's price effect into income and substitution effects)....
In this video, I use budget constraints and indifference curves to demonstrate the theoretical possibility of an upward-sloping demand curve. A good with an upward-sloping ...
In this video, I graphically decompose the effects of a price change into income and substitution effects. In particular, I demonstrate how to do a Hicks Decomposition with ...
In this video, I demonstrate how to derive demand in a simple two-good case (a good of interest and a composite good with price $1). My derivation uses the intuition from ...
In this video, I demonstrate how to derive a demand curve using indifference curves and budget constraints. The treatment shows the graphical intuition for how to relate ...
In this lecture, I work an example of what I call "indifference curve analysis." In the video, I apply the principles of marginal rate of substitution and individual optimization....
In this video, I demonstrate how to draw budget constraints (given prices and income). I also demonstrate what the utility maximizing bundle looks like with indifference ...
In this video, I use calculus to derive the relationship between marginal rate of substitution and the marginal utilities of the two goods.
In this video, I explain the concepts of Marginal Rate of Substitution (MRS) and Marginal Utility. I then offer a non-calculus-based motivation for the formula that relates ...
In this video, I introduce the concept of indifference curves along with some basic assumptions that basic microeconomic theory makes about preferences.
In this video, I work an example of made-up data on the effect of steroids on homeruns to illustrate how to conduct a one-way ANOVA. In particular, I demonstrate how to ...
In this video, I give two formulas for r^2, and give one intuitive interpretation of the value of r^2.
In this video, I explain the role of the correlation coefficient in simple linear regression, and I give some intution for why correlation measures the strength and direction ...
In this video, I introduce the basics of simple linear regression (SLR). Topics include (1) an intuitive understanding of how to fit a regression line, (2) some equations ...
In this lecture, I discuss (1) the difference between positive and normative questions in the context of unconventional markets, and (2) the wide applicability of microeconomics ...
In this lecture, I demonstrate how to (1) Solve for equilibrium quantity and prices in a market with a per unit tax, and (2) Illustrate these computations on a graph of supply ...
In this lecture, I demonstrate:
1. How to graph supply and demand, given two linear equations
2. How to solve for equilibrium price and quantity
There are some minor verbal ...
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