Macro: Unit 3.6 -- The Phillips Curve

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Review the origins of the Phillips curve
- Discuss the inverse relationship between the inflation rate and the unemployment rate in
the short-run, leading to a downward-sloping short-run Phillips curve
- Discuss the constant relationship between the inflation rate and the natural rate of
unemployment in the long-run, leading to a perfectly vertical long-run Phillips curve
- Practice graphing how changes in aggregate demand will change the inflation rate and
the unemployment rate on a short-run Phillips curve
- Practice graphing how changes in short-run aggregate supply will change the inflation rate
and the unemployment rate on a short-run Phillips curve
- Practice graphing how changes in long-run aggregate supply will change the inflation rate
and the natural rate of unemployment on a long-run Phillips curve
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Пікірлер: 56

  • @ahmedkheiri9935
    @ahmedkheiri99356 жыл бұрын

    Probably the best economics teacher ever, really helped me prepare and learn the information that my professor was not teaching well. Earned a subscriber!

  • @YouWillLoveEconomics

    @YouWillLoveEconomics

    6 жыл бұрын

    This is awesome to hear! Glad it was helpful. Be sure to spread the word about the channel. Thanks for the feedback!

  • @annp9595
    @annp95956 жыл бұрын

    Simply put with nice pacing. I’m extremely relieved and grateful that I found this channel right before my Phillips test. The AP Macro and Micro exams are a few weeks away, and I definitely feel more confident about taking it by watching your videos. Thank you! :)

  • @YouWillLoveEconomics

    @YouWillLoveEconomics

    6 жыл бұрын

    That’s fantastic to hear! Spread the word, and thanks for the feedback and support!

  • @albinagilazutdinova5756
    @albinagilazutdinova57564 жыл бұрын

    This explained me so much, it's just brilliant! Thank you for your work, I think every year this video will be saving dozens and dozens of students lives !

  • @ATorres0821
    @ATorres08214 жыл бұрын

    This video did a great job combining the two graphs into a meaningful gauge of how real-world events impact the economy. You have a very engaging demeanor when teaching. At the beginning of the video I was worried that the material was aimed solely at people who have taken an economics course, but I think anyone who watches the video completely will appreciate the main ideas being taught. Thank you for the quality video!

  • @ponpailinchew1408
    @ponpailinchew14085 жыл бұрын

    Hi there, firstly, my greatest appreciation to you and your videos for teaching me more than my lectures. Also, may I request if you are able to upload videos on the IS LM model in an open and close economy. I'm having difficulty trying to understand the relationship of the equations and the graphical representations. I would very much appreciate it! thank you

  • @arshisid47
    @arshisid476 жыл бұрын

    Wonderfully explained! loved the normal pace.

  • @YouWillLoveEconomics

    @YouWillLoveEconomics

    6 жыл бұрын

    Awesome! I’m glad you found it helpful. Thanks for the feedback and the support!

  • @kenetmartinez369
    @kenetmartinez3692 жыл бұрын

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  • @mahdidi96
    @mahdidi965 жыл бұрын

    I think this is the best, most concise video ive seen so far on this subject. good job

  • @user-bz5io6ph8w
    @user-bz5io6ph8w3 жыл бұрын

    Thank you Mr. Willis this is a really helpful video! I shows clearly how the ADAS model and Phillips curve is related

  • @hollygoodman4904
    @hollygoodman4904 Жыл бұрын

    Best economics teacher. I really appreciate the pace you teach at because it gives me time to understand. I appreciate you! :)

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    @indianantiques68305 жыл бұрын

    Would be immensely indebted to to you Mr willis if you could create a playlist in Welfare economics

  • @omkumar4717
    @omkumar47172 жыл бұрын

    best economic teacher. best video, fully conceptually, and good understanding cover all things in one video with best use of senytences and economic vocabullary.

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    @angelojeremias43014 жыл бұрын

    I'm from Chile and you help me a lot with your videos, thanks(:

  • @pallavijain3262
    @pallavijain32623 жыл бұрын

    The best explantion on Phillips curve. Thank you so much

  • @bartomiejpeksa125
    @bartomiejpeksa1255 жыл бұрын

    Thanks for the video! Topic explained thoroughly!

  • @t24money
    @t24money4 жыл бұрын

    Can you adjust the Philips Curve for Robot Employment / and AI ? if not how would you try to do this ?

  • @huzeifahassanali5927
    @huzeifahassanali59275 жыл бұрын

    Great help!! Thank you soo much!

  • @estheroladele7684
    @estheroladele76845 жыл бұрын

    thank you very much it was soo helpful but i haven't been able to explain it to a Nigerian situation

  • @macariantonina95
    @macariantonina952 жыл бұрын

    Wonderfully explained! Good job!

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    @illiberalarts4 жыл бұрын

    I have a final exam tomorrow and this video is life saving for me. Thank you very much.

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    @djalmapaz90322 жыл бұрын

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    @zackkassner33743 жыл бұрын

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    @rmgulamnurulimam34935 жыл бұрын

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    @ethanwhite26692 жыл бұрын

    This video was extremely helpful, Thank you!

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    @alfredaidoo40812 жыл бұрын

    Hi, I don't know what to choose between Economics and Accounting. I really love both. Can I get an accounting job after persuing Economics at the University???

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    @fatoskryeziu68015 жыл бұрын

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  • @chandrakantamalviya2358
    @chandrakantamalviya23586 жыл бұрын

    To the point. Thank you!

  • @YouWillLoveEconomics

    @YouWillLoveEconomics

    6 жыл бұрын

    You’re very welcome! Glad it helped.

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    @as-bb9nu5 жыл бұрын

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    @paula30843 жыл бұрын

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    @Droid987655 жыл бұрын

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    @acb1084 жыл бұрын

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    @dgfcl56ify3 жыл бұрын

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    @esmerfantasysf91383 жыл бұрын

    thank you!!!! i learned better with this explanation

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    @elainarosilez91632 жыл бұрын

    this video really helps me with economics

  • @virginiawamoyo8599
    @virginiawamoyo85993 жыл бұрын

    Thank you sir..so helpful

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    @jgsportsgaming28215 жыл бұрын

    You are born to teach...

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    @govindkarna65173 жыл бұрын

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    @maiden54273 жыл бұрын

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    @nizgancebiyeva4433 жыл бұрын

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  • @classicalethics2053
    @classicalethics2053 Жыл бұрын

    I'm confused. At the 1:50 mark, he says that, as unemployment rises deflation occurs. Yet economist Charles Goodhart says that, while dependents are inflationary, workers are deflationary. He explains it this way. When a business hires a worker and expects $100,000 in productivity, he pays him $70,000, thus netting a $30,000 profit. In other words, the worker is generating more productivity than he's getting paid for. Money is a measurement of productivity. The more productivity = the more money. If there is INCREASED productivity in the system and less pay, that creates deflation. I get that. Then why does the Phillips Curve seem to suggest the opposite?

  • @yangmimakang6470
    @yangmimakang64706 жыл бұрын

    Sir, thank u so much I find ur video very helpful .

  • @YouWillLoveEconomics

    @YouWillLoveEconomics

    6 жыл бұрын

    Thanks for the feedback and the support!

  • @matiasainbinder4757
    @matiasainbinder47572 жыл бұрын

    Hi. I really want to understand what is happening right now in USA. I mean inflation rate is 5% and unemployment rate also is higher than last month so Phillips Curve can't be useful. Thanks!

  • @top10mizoram50
    @top10mizoram503 жыл бұрын

    So helpful for Indian Students

  • @omkumar4717
    @omkumar47172 жыл бұрын

    earned subscribed and like on every video

  • @intekhabalam4206
    @intekhabalam42064 жыл бұрын

    please make a video on IS LM model

  • @phumudzokhumubuya2459
    @phumudzokhumubuya24593 жыл бұрын

    what happens to a philip curve if the central bank print more money ?

  • @ndndndnnduwjqams
    @ndndndnnduwjqams Жыл бұрын

    Very good

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    @dasch8385 жыл бұрын

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    @akshatbasumallik4 жыл бұрын

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    @sbonelokunene63062 жыл бұрын

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