timestamps

• 0:00

  Introduction and Housekeeping

• 0:35

  Unit 1 Overview

• 1:39

  Starting Unit 1.1-1.3

• 3:13

  Scarcity and Key Terms

• 5:15

  Opportunity Cost Explained

• 6:17

  Factors of Production

• 8:23

  Big Economic Questions

• 9:28

  Free Market System

• 11:00

  Mixed Economy

• 11:31

  Production Possibilities Curve

• 14:09

  Increasing Opportunity Cost

• 16:15

  Capital vs Consumer Goods

• 17:51

  Shifting the PPC

• 18:53

  PPC Activity: New Zealand

• 21:32

  PPC Shift Explanation

• 22:50

  Q&A for 1.1-1.3

• 23:21

  Law of Increasing Cost

• 26:00

  Specialization and Trade

• 27:36

  Absolute vs Comparative Advantage

• 30:08

  Shoes and Purses Example

• 31:48

  Output Method Calculation

• 33:54

  Opportunity Cost Analysis

• 36:00

  Terms of Trade Range

• 39:07

  Input Example Correction

• 42:44

  Tradeoffs and Costs

• 45:19

  Marginal Benefit and Cost

• 48:24

  Unit 1.6 Marginal Utility

• 49:57

  Concession Stand Example

• 54:41

  Cars and Refrigerators Activity

• 56:28

  Input Absolute Advantage

• 58:02

  Comparative Advantage Calc

• 59:09

  Terms of Trade for Refrigerators

• 59:41

  Final Q&A Session

• 1:01:13

  Closing Remarks