In this episode we define subsidies and describe how to construct a model of subsidies that includes world trade. We also discuss some of the advantages and disadvantages of subsidies.
In this episode, we define what a tariff is and construct a simple model to demonstrate the effects of the tariff on domestic and world markets. We also discuss some of the disadvantages of tariffs.
In this episode we discuss the theory of comparative advantage and work through a numerical example. We also look at some of the limitations of the theory.
In this podcast, we discuss the thinking behind the Laffer Curve and the importance of transfer payments in redistributing income. We also look at the Lorenz Curve and Gini co-efficient as measures o…
In this podcast, we look at the features of a good tax system. We define progresive, regressive and proportional taxation and give examples of each. We also differentiate between direct and indirect …
In this episode, we describe the Phillips Curve relationship between inflation and unemployment. In doing so, we differentiate between the short run and the long run and note the implication for poli…
In this podcast, we talk about some of the approaches governments may take in trying to fix unemployment. Note, discussion on the advantages and disadvantages of each method is not included here.
In this episode, we discuss how the multiplier and accelerator effects can make a small change in aggregate demand result in a much larger increase in national income.
In this episode we define inflationary and deflationary gaps and highlight how to find them on a neo-Classical AD/AS model. We also place them into the context of the business cycle.
In this podcast, we differentiate between the Keynesian and neo-Classical aggregate supply curves and how this impacts upon possible long run equilibrium positions of an economy.
In this podcast, we outline the different methods of measuring national income and differentiate between GDP, GNP and NNP. We also discuss the importance of adjusting these figures for inflation and …
00:04:39 |
Tue 04 Aug 2009
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