Topic | Key Terms | YouTube Video |
Opportunity cost | Opportunity cost | NEEVC ‘opportunity cost’ rap
http://www.youtube.com/watch?v=KykTi82RMz8 |
No free lunch | Opportunity cost, there is no free lunch, trade-offs | Pixar shorts
http://www.youtube.com/watch?v=Po8_xe0rwLI |
Shifts in demand | Demand, determinants of demand, shifts in demand, complementary goods | Father of the Bride: Hot dogs/hot dog buns
http://www.youtube.com/watch?v=oYIHLUxzRr8 |
Equilibrium | Demand, price elasticity, equilibrium, market shortage | Jerry Seinfeld mugs an old lady for her marble rye
http://www.youtube.com/watch?v=96bqcoO1cYU |
Competitive pressure | Competition, competitive pressure | T-SHIRT WAR! (Stop-motion animation)
http://www.youtube.com/watch?v=DKWdSCt4jGE |
Monopoly structure | Monopoly, monopoly structure, monopoly pricing, market power | ‘It’s a Privilege to Pee’ (Urinetown)
http://www.youtube.com/watch?v=oBt6uMJSV_M
http://www.youtube.com/watch?v=WjfeJOYUjH4 |
Monopoly | Oligopoly, cartel, anti-trust laws, price-fixing, concentration ratio | Archer Daniels Midland segment from Fair Fight in the Marketplace
http://www.youtube.com/watch?v=DPXTsPS-hyw |
Minimum wage | Labour market, unemployment, minimum wage, wage floor | ‘The Unemployment Song’
http://www.youtube.com/watch?v=r73Qz3eXe8c |
Derived demand | Labour demand, derived demand | Napoleon Dynamite movie mashup
http://www.youtube.com/watch?v=PLMRLdEVtvE |
Public goods | Public good, common good | Cloudy With A Chance Of Meatballs: Chew and swallow
http://www.youtube.com/watch?v=BHBXcqGUZdk |
Externalities | Market failure, externalities, production decision | BP: Rich fish
http://www.youtube.com/watch?v=HtfevVB5eBk |
Inflation | Inflation, hyperinflation | Inflation cartoon with ducks! http://www.youtube.com/watch?v=ggxX1hPLbg0 |
Unemployment | Unemployment, employment, out of the labour force | The Unemployment Game Show: Are you really unemployed?
http://www.youtube.com/watch?v=Ulu3SCAmeBA |
Inflation and deflation | Inflation, deflation, John Maynard Keynes, Zimbabwe, Federal Reserve, money supply, monetary policy, monetary stimulus | Inflation or deflation?
http://www.youtube.com/watch?v=2fq2ga4HkGY |
Macro failure (I) | 2008–2009 recession, housing crisis, credit crisis, macro failure, aggregate supply and aggregate demand | The crisis of credit visualised – Part 1
http://www.youtube.com/watch?v=Q0zEXdDO5JU |
Macro failure (II) | 2008–2009 recession, housing crisis, credit crisis, macro failure, aggregate supply and aggregate demand | The crisis of credit visualised – Part 2
http://www.youtube.com/watch?v=iYhDkZjKBEw |
Fiscal policy | Government spending, fiscal stimulus, job creation, opportunity cost, there is no free lunch | The broken window fallacy
http://www.youtube.com/watch?v=QG4jhlPLVVs |
Creation of money | Deposit creation, fractional reserves, reserve ratio, excess reserves, bank runs, FDIC | The bank run from It's A Wonderful Life
http://www.youtube.com/watch?v=_Er69b4HMl8 |
Trade | Trade, specialisation | Free Trade: The great prosperity machine
http://www.youtube.com/watch?v=bfE2HO8p3FE |
