Latest Articles
External Benefit and External Cost - youtube (11/2/2011)
External cost and external benefit exist because some property rights have not been clearly defined and enforced. Their existence leads to misallocation of resources.
External cost and external benefit exist because some property rights have not been clearly defined and enforced. Their existence leads to misallocation of resources.
Money Multiplier - youtube (11/2/2011)
The creation process of money in a fractional-reserve banking system.
The creation process of money in a fractional-reserve banking system.
Circular Flow - youtube (11/2/2011)
The circular flow diagram captures the big picture of how different sectors of an economy are connected to one another by flows of money and goods.
The circular flow diagram captures the big picture of how different sectors of an economy are connected to one another by flows of money and goods.
Supply and demand - youtube (11/2/2011)
Market prices and quantities supplied and demanded are determined by the interactions between supply and demand.
Market prices and quantities supplied and demanded are determined by the interactions between supply and demand.
Trade Deficits - youtube (11/2/2011)
Trade deficits serve to fill domestic private saving gap and government budget gap.
Trade deficits serve to fill domestic private saving gap and government budget gap.
Crowding-out Effect - youtube (11/2/2011)
Government deficit financing could crowd out private investment.
Government deficit financing could crowd out private investment.
Cost-efficient pollution control (11/2/2011)
Pollution tax could lead to lower-cost pollution reduction than a uniform pollution reduction quota.
Pollution tax could lead to lower-cost pollution reduction than a uniform pollution reduction quota.
