Indifference Curves
Think about what restricts your choices when it comes to buying goods and services. Your income is one variable. Prices are another. What about what you like and don’t like? That’s an important one!
Your preferences play a huge role in how you decide to spend your money. We often face so many options when it comes to what we buy that it can be difficult to decide. Even with a simple example of pizzas and coffees, there can be many combinations that would give you the same level of satisfaction or happiness - what economists call utility. There are also many combinations to which you might find yourself totally indifferent.
In this video, Arizona State University’s Professor Joana Girante will show you how to graph an indifference curve. She’ll also introduce you to marginal rates of substitution (don’t worry, it sounds more complicated than it is!). We’ll also take a look at how perfect substitutes and perfect complements change the shape of an indifference curve.
Microeconomics Course: bit.ly/20VablY
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Пікірлер: 268
the more i watch your videos the more i realize economics is just simple concepts that are explained with complex graphs and convoluted jargon
@johnburson70
4 жыл бұрын
When I took Econ in college that’s pretty much exactly how my professor explained it. It said economists just like to use big confusing words. 😂
@gammaraygun6576
4 жыл бұрын
And the more your realize that this stuff doesn't reflect reality...at all?
@femiairboy94
4 жыл бұрын
@@gammaraygun6576 yes at the basic level, but the more advanced economic classes you take the more realistic and complex it gets.
@slimstrait780
Жыл бұрын
@@gammaraygun6576 Well.. most graphs are designed to be simplified versions of reality. But this is still basic economics.
@jackyjack9660
Жыл бұрын
@@femiairboy94 not as complex as science...
You explained in 8 minutes what i been taught in 2hrs of class.
@ieatalldayandimstillhungry626
4 жыл бұрын
LOL 😂😂😂🤣
@saowaluksrisawat1631
3 жыл бұрын
Truly agree
@ptrisno
3 жыл бұрын
Sameee loll hahahahha
@antonioluna-leija3178
3 жыл бұрын
Same here! only my professor took 6 hours to explain it and I still didn't get anything :'D
@junkiri6970
3 жыл бұрын
Psst 1.25x
This explanation feels like something I have not seen in such a flow of the depth it intended to go into. Much more preferable than my lectures.
you explained this better in 8 minutes than my professor could in an hour and 20 minutes... thanks so much!!!
@farihawasti4771
5 жыл бұрын
Not to mention the Tuition$$!
@lionelho2866
2 жыл бұрын
hahaha same to my situation. My prof is telling rubbish
she :"Economist dosent like things that dont make sense". me while looking at the micro economic book, "it doesent make sense att all".
@Sewingtutor
3 жыл бұрын
😂
@aldricmartinez-olson7509
3 жыл бұрын
haha
This is better explanation than the explanation of my microeconomic professor who loves to fail his students but can't explain his lesson better
@DeepakPandey-cx5sf
Жыл бұрын
Lol eco profs are same across world
why is it always so simple but yet during the tests is never a pizza and coffee hahaha thank you for the class
@mwanabulliii7784
3 жыл бұрын
Trust me I'm understanding right the moment I see the leaf on my take things change 😂
Joana you are Genius ... you make all the concept interconnected with transition between terms and it make us easier to understand thank you so much
I can't help but to pause this video after few minutes of watching, just to compliment your brilliant explanation of this topic! We need more of your kind to not only teach Economics but all other subjects. And thanks a lot for your team, Marginal Revolution Union for putting these great stuffs together! Keep up recording more great videos. Thanks a lot!
the way she explains concepts in such a clean and neat way is simply amazimg!!! She has absolute knowledge in her subject Imdividual like her makes economics intresting!! Please make more videos on ecomonics miss!!!
This video is just perfect it explains in depth what online teachers cant properly in just 8 mins. Teachers of mine do not even give example to ensure students get a grasp of what they are learning they just go straight to the computations which we do not understand, kudos to this KZread channel that its able to explain it in a way that ensures students are able to grasp it properly.
I don’t think I could survive my class without this video! Thank you!!!!
Holy smokes! All of a sudden the 12 pages I read on this chapter is easily explained in this short easy to grasp video! Thank u 🙏🏻😀
The way she talks is so entrancing for some reason, like she's being serious&formal and saucy at the same time
This is the most sense this has ever made! I don’t think it ever clicked back in university like it did now . Thanks
I love how it's animated,makes it easier to understand....
Hats off ... learning this for years together I couldn’t understand exactly what those curves are.. your video just did it in 8 min ..
now I want a pizza and coffee
@kaveeshaabeysinghe4839
3 жыл бұрын
hell yeah and you re in lockdown T-T
I love listening to her voice. Makes everything interesting. Thank you so much!
Brilliant video, well explained short, simple and to the point thanks a lot!
I could understand our lesson easily because of this. So keep it on! Thanks!
Thank you! Really great video - great explanation, I was searching for hours just to get this information that you gave me now in 8 min.Love it!
I understand indifference curves and MRS much better now. Thank you for your work. You explained it really well.
I literally like the way you simplify this topic. Thank you very much. ❤
Wow..... this is absolutely amazing. Thank you very much. The animated illustrations were just perfect
This makes grad school econ easy to understand. Why is it that I have a hard to understanding what my professor is saying but I googled this video I understood everything? Thanks!!
I love the examples you used. It made this concept so easy to understand 😍 thanks
Loved how they teach the basics.
this is so well edited and explained. compliments.
Thank you so much for teaching this in easy method.
What a fancy way to illustrate those abstract concepts!
by far the best video on this topic
We are not, you and your team nailed it. Beautifully explained. I love your work.
Really thank you Mrs. Reading hundred of books is not as effective as watching the simple teaching and explanation.
WOW!!!!!! How good you explain. RESPECT.
Exceptional teaching, more information in just few minutes, best among all the videos of ICs i watched, thank you mam.
The instructor did a really good job in explaining and the video is also done really well.Thanks a lot ♥️🇧🇩
that's so easier to understand and perfect. Thank you
This video is fantastic visually and helps me understand better while doing revision for my University Exam.
Amazing video impressed by how u explained it in 8 minutes. Thanks!
Thank you. Just what I needed to prepare for my test
THANK YOU SO MUCH! I DID NOT KNOW THAT THIS CONCEPT WAS ACTUALLY EASY!
Thank you
This Channel is SO good!
You have no idea how much I appreciate this🌹🌹
Thank you for this lecture!
Amazing video, really needed this concept to be explained
very clear explanation, thank you!
Absolutely clear! Thanks so much!
Very wonderful and inspiring for all economic students for explined the IC curve
Where have you been all my life?😂😂 thank you so much! In 8 min I got to understand a lot of things that I didn't know very well
You are the best Ma'am. Thank you so much
Thanks, great explanation and video edition!
Just epic explanation! Hats off!
That was amazing! You explain it sooo easily
Thanx mam, You are great in explaining more no. of concepts in a single video in a simple way😊
A very informative tutorial. Things were easier to understand.
I give major portion of pie to video editor. Wish I get classes with editor
This is amazing thank you so much!!
Beautiful explanation
wow you are amazing. I am doing my MBA online and it was difficult to understand the book. Your explanation is simply excellent. Thank you from the bottom of my heart.
@joanagirante
5 жыл бұрын
How neat! I'm glad you found it useful. Thank you from the bottom of mine. -- Joana Girante
Thanks, y'all helping me a lot with my class 11th Microeconomics
You are an amazing teacher
Prof. J. Girante, Obrigado! Current situation >>> 02:56 am, facing micro-exam in 5 days. You earned nothing materialistic, but your karma level increased drastic. Best regards from Germany Jasko
@joanagirante
5 жыл бұрын
Thanks, Jasmin! Right back at you! -- Joana Girante
can I say it is mesmerizing to watch this video? learning can be a really fun process
awesome video, you guys are best teachers ..
You ma'am.. you and your team... Nailed it... Good work... Keep it up.. i understood a concept from CFA due to this video..
thank you. my professor should watch your video.
This is so helpful!! Thank you!!
Thank you It helped me a lot
Clear explanation. Thx
Thank you very much!
Thank you so much
A terrific explanation.
Well explained thanks!!
Recomended by my friend and Subscribed after watching this video.. You explained very well. .
great explanation, thanks a lot
*I am Satisfied* *Thank you so much* 🙂
Very nice video and well explained.
splendid way of presentation, I salute u mam...
Never leave. This makes more sense than the hundreds I've spent on text books.
Nice explanation I understand everything
Thank you!
Very effective video appreciate it!
Thank you so much 🥰👍
Great video!
Thanks so much
thanks. this helps me to improve my PUBG inventory management. I usually carry 2 guns chambered in different calibers and the space in my backpack is limited.
@kokos9545
5 жыл бұрын
😂😂😂
@mundubiveronica7664
3 жыл бұрын
😂😂
well explained. keep up ur good work.
Very informative mam. Thank you.
thank you
That's so helpful thank you
GREAT VIDEO
Thank you soo much maam..very informative and easy to understand
We need more from you miss..ur brilliant 5/5
Omg her voice is so soothing? Very unintentionally ASMR
Smartly explained ✨
your videos are extremely helpful thank you so much
@MarginalRevolutionUniversity
4 жыл бұрын
Thank you! -Roman
If I am not mistaken, for the case of Perfect Substitutes, we can only say that the MRS is constant (might not necessarily be 1), right?
what is this beautiful accent
@MarginalRevolutionUniversity
7 жыл бұрын
Prof. Girante is originally from Portugal. I could listen to her talk all day! :) -Meg
@magicomerv
5 жыл бұрын
she speaks the language of economics