Short Run Phillips Curve

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  • Опубліковано 11 чер 2024
  • Short Run Phillips Curve - A visual representation of the short run Phillips curve, showing both demand pull and cost push inflation but also the key conflict in the short run between low unemployment and inflation

КОМЕНТАРІ • 114

  • @hawkswingz
    @hawkswingz 7 років тому +273

    Knowledge is one thing and ability to teach at this excellence is an entirely different skill. You got it all and some! I learnt these theories during just the length of your tutorials; wouldn't be the case if I sat in a class for hours with someone who had no idea of teaching. People like you, are global treasures. Hope you know that. thanks Dal tanks you tube!

  • @Jdkslls
    @Jdkslls 7 років тому +163

    Thank you for being better than my university professor

  • @fastfoodie47
    @fastfoodie47 25 днів тому +5

    watching this 2 days before 2024 paper 2 (AQA) hopefully itll come up. (Your face is burnt into my monitor at this point but i cant stay mad at you econplusdaddy)

  • @aletheabarretto3624
    @aletheabarretto3624 5 років тому +63

    I owe you my A Level

  • @lyndoncollins6601
    @lyndoncollins6601 2 роки тому +5

    Your ability to transfer this level of knowledge to conceive better understanding and students of economics is remarkable. You’re the best!!

  • @somthincoolwut
    @somthincoolwut 9 років тому +45

    you should know you're saving so many lives with your videos :D THANKS

  • @hussainmuhammad9130
    @hussainmuhammad9130 3 роки тому +7

    You dont know how very helpful these videos are sir
    You stand at the peak of the art of simplifying complicated things in econ.

  • @tanveededhia2866
    @tanveededhia2866 8 років тому +66

    A special thanks to econplusdal videos of economics....it really helped alot to understand macro concepts with ease

    • @EconplusDal
      @EconplusDal  8 років тому +22

      +Tanvee Dedhia A special thanks to you for watching :)

  • @josephdellicarpini4317
    @josephdellicarpini4317 6 років тому +7

    BEST Explanation dude!!!! Thank you!!! You made it so easy and intuitive to follow along.

  • @BhumikaShamJagtianiISWKi
    @BhumikaShamJagtianiISWKi 3 місяці тому

    THANK YOU SO MUCH! I struggled to understand this so much but your way of teaching makes everything a 100X better!

  • @benjaminli3808
    @benjaminli3808 3 роки тому +5

    How can someone be so good at teaching

    • @Johnbone_
      @Johnbone_ Рік тому

      This is advancwed humour

  • @austinwachira5185
    @austinwachira5185 Рік тому +3

    Huge thanks, Dal!! You made this look so easy to understand. 👌💯

  • @sutirthasarkar4189
    @sutirthasarkar4189 6 років тому

    Thank you so much for brushing up my concept before exam.... U saved me...!

  • @moreennambuya4762
    @moreennambuya4762 Рік тому +2

    Much love from Uganda, makerere University 🇺🇬🇺🇬🇺🇬🇺🇬🇺🇬

  • @johnmitchellskinner4447
    @johnmitchellskinner4447 9 років тому +3

    Really helpful, and well explained, thank you!

  • @StreetDancer171
    @StreetDancer171 7 років тому +2

    With this new OCR specification with a terrible textbook by Peter Smith, you've been extremely helpful to my gaining of knowledge with regard to economics

  • @EconomistYT
    @EconomistYT 6 років тому

    you nailed it,I have been struggling to understand how its related to classical AD-AS Model.Now I got it thank you so much..Great job keep it up!

  • @juancarlosotero5620
    @juancarlosotero5620 5 років тому

    Super clear and to the point. Thanks for the video

  • @bilalasad78
    @bilalasad78 7 років тому

    You are an absolute legend! I actually understand your videos which is ACE keep them coming!

  • @priyankatheartist8643
    @priyankatheartist8643 4 роки тому +1

    it was great
    I really appreciate your teaching 🙌👏👏👏

  • @RalcyJaneBeautyx
    @RalcyJaneBeautyx 5 років тому +1

    I literally had no idea how this worked before I watched this video and now I do, THANK YOU, my Econ a level is in a month lol

  • @razeradam
    @razeradam 7 років тому

    This guy is amazing just wow! U are amazing!!! A big thank you for the help and videos!!!!!!

  • @georgiakaragianni8666
    @georgiakaragianni8666 6 років тому

    Great Video, Keep up the amazing work!!

  • @vincentmulenga5427
    @vincentmulenga5427 6 років тому

    The vids is great and straight to the point

  • @tomas-oe7pz
    @tomas-oe7pz 7 років тому +1

    how do you show that inflation also rises with the new phillips curve due to stagflation? As the line coming from PL2 should be linear? or do you just draw the line with a slight bend upwards?
    thanks your videos are very useful

  • @neharadia8689
    @neharadia8689 7 років тому

    Great videos, thanks!

  • @eduardatoledo5590
    @eduardatoledo5590 4 роки тому

    YOU ARE THE BEST AT TEACHING!!!!!!!!!!! THANK YOUUUUUUUUU SO MUCHHHHH

  • @spamaccount4676
    @spamaccount4676 3 роки тому +3

    ib eco half-yearly tomorrow, econdal coming in clutch for last minute revision!

  • @gireeshshrivartava9415
    @gireeshshrivartava9415 8 років тому

    wonderful dear
    it was gr8

  • @hgfdsacgh
    @hgfdsacgh 6 років тому

    absolutely brilliant!!!

  • @narayanbishowakarma3162
    @narayanbishowakarma3162 7 років тому

    you are great help sir,keep going

  • @adenigba
    @adenigba 7 років тому

    God bless you richly.Thanks man.

  • @lowkey_anp
    @lowkey_anp 7 років тому +1

    Thank you so much for all this help. Can we also have videos on the Money chapter from a levels

  • @ash.b9829
    @ash.b9829 6 років тому

    You're the BEST!!!
    Thanks :-)

  • @suryapaudel4590
    @suryapaudel4590 4 роки тому

    Fantastic explanation brother... Greetings from Nepal 😇

  • @PureInsanity6
    @PureInsanity6 9 років тому +1

    So well explained

  • @sandyphillips9147
    @sandyphillips9147 4 роки тому +4

    Cheers Dal

  • @prabalshrestha6655
    @prabalshrestha6655 8 років тому +2

    One of the best teachers in youtube

  • @matthewdodd7213
    @matthewdodd7213 7 років тому

    Hi there, any last tips on evaluation for Philips Curve? Would be a great help, many thanks.

  • @JSAWYER137
    @JSAWYER137 9 років тому +6

    Great help, thanks. When do you think you will post more A2? Globalisation/ exchange rates etc?

  • @donaldcb3401
    @donaldcb3401 Рік тому +1

    well explained keep up the good work 🙂

  • @arnavsashi4728
    @arnavsashi4728 Рік тому

    Thank you so much☺️☺️☺️ such a good video xxx

  • @williammullan2862
    @williammullan2862 9 років тому +1

    Thank you so much for such a helpful video! However does the SRPC shifting to SRPC 3 counter the argument that any reduction in unemployment below the NRU level would be purely inflationary? Or does that only apply when AD is used to do so and because this is the short term phillips curve? Thanks again!

    • @EconplusDal
      @EconplusDal  9 років тому +1

      William Mullan You're right, classical economists say that any demand side policies (AD influencing) to reduce unemployment would be purely inflationary. On the supply side the argument changes

  • @nurehh2271
    @nurehh2271 5 років тому

    Thank you!

  • @saimatasnim5054
    @saimatasnim5054 7 років тому

    the video is really helpful

  • @aizazaheer8995
    @aizazaheer8995 5 років тому

    in which topic can we use this curve, Inflation or unemployment ?

  • @MC10W
    @MC10W 3 місяці тому

    Fantastic content here : could you even shift SRAS to the left due to the Ebergy crisis or due to lefts sag COVID . ???? But put the same effects on the Phillips curve ?

  • @arindakevin275
    @arindakevin275 5 років тому

    Thank you so much

  • @sylvainhours
    @sylvainhours 6 років тому

    Hello,
    It seems to me that when the AD decreases, the average price level decreases so we face deflation and not disinflation as your movement down the Phillips curve suggests.
    Am I wrong?

  • @mijailmariano7846
    @mijailmariano7846 7 років тому

    Awesome video! Fellow Econ Tutor

  • @isacoffers2
    @isacoffers2 7 років тому

    Does stagflation only happen with economic situations that shift the SRAS curve?

  • @V1k35h1
    @V1k35h1 7 років тому

    Mind Blown!

  • @gamiththushara1619
    @gamiththushara1619 Рік тому

    Thank you so much. Your videos help me a lot to understand this subject 😁

  • @stardust3301
    @stardust3301 4 роки тому +1

    Better than my college professor

  • @WW-xo9ll
    @WW-xo9ll 7 років тому

    Great video! I have one question though- why would a supply side shock increase unemployment? Is it simply to allow a firm to maintain a profit, so number of employees must decrease in order to reduce ATC? Thank you in advance

    • @Ahmed-cu5lw
      @Ahmed-cu5lw Рік тому

      Because real gdp decreases labour is a derived demand, derived from the goods and services in the economy
      Meaning when real gdp falls because of the supply side shock so unemployment (ik you asked 6 years ago)

  • @sachindougall1069
    @sachindougall1069 7 років тому +4

    OMG You have the same shirt as me!

  • @CheetoCheetah77
    @CheetoCheetah77 7 років тому

    How come in my textbook, the SP curve is upward sloping?

  • @musinguziandrew1441
    @musinguziandrew1441 2 роки тому +1

    Extraordinary explanation, thanks a lot

  • @Baddogbling321
    @Baddogbling321 6 років тому

    sooo which one do we use for the exam

  • @iniester6724
    @iniester6724 5 років тому +1

    when you write SRPC, is this same as expectation augmented phillips curve(EAPC)

    • @FarisSkt
      @FarisSkt 5 років тому

      expected augmented Phillips curve is the long run Phillips curve

  • @shyamangchouhan9224
    @shyamangchouhan9224 6 років тому

    thanks sir

  • @sumanchowdhury9549
    @sumanchowdhury9549 2 роки тому

    who can explain why it's assumed that SRAS,LRAS and AD curve intersect with each other on a single point ?? please help.

  • @elfmas
    @elfmas 5 років тому

    Hi dal, can you help me understand explicitly why the SRPC shifts? I understand the reduced unemployment results in a higher inflation rate, but what actually happens that causes the shift to the right (eg if lras shifts to the left)? Is it something to do with the firms laying people off due to higher wage demands?

    • @udaykumarpriyani1994
      @udaykumarpriyani1994 2 роки тому +1

      This comment would be of no use now but from what i understood, there wouldnt be a shift in LRAS as this is occuring in the short run. if u meant that SRAS shifts to the left it relates to the idea that it raises a firm's costs of production so they would lay off workers in the process causing SRPC to shift to the right.

  • @thaomydo1441
    @thaomydo1441 4 роки тому

    you're a godsend!!!!!!

  • @oneinabillion654
    @oneinabillion654 5 років тому

    I know u may not answer my Q. but if anyone else could help me, is there any proof for such shifts in the SRPC. From the explanations, it just sound as though monetarists forcefully shifts the curve to represent stagflation LOL.
    If possible, a mathematical explanation would be helpful :D

  • @xamitneupane
    @xamitneupane 9 років тому

    @ 10:07 on Price level vs RGDP graph. How does it shows that although price levels have increased, unemployment has decreased ???

    • @EconplusDal
      @EconplusDal  9 років тому

      Amit Neupane It doesn't, Phillips curve shifts

  • @ruvelynlenares5057
    @ruvelynlenares5057 3 роки тому

    so perfect

  • @Browsky562
    @Browsky562 7 років тому

    thanks a lot man

  • @haarrnoor
    @haarrnoor 6 років тому

    thank you....EconplusDal

  • @willk3014
    @willk3014 9 років тому

    Which exam board do you use?

  • @zacthetoad7903
    @zacthetoad7903 2 роки тому

    Thanks dad

  • @Jackr889
    @Jackr889 4 роки тому

    mate i fucking love you, dont ever stop making videos pleaseeeee.

  • @dimonwhite02
    @dimonwhite02 4 роки тому +1

    Here because teachers still set us assignments even when college is closed.

    • @TaariqSiddik
      @TaariqSiddik 4 роки тому +1

      Atleast your A level economics teacher still cares about sending you work

  • @nugs8506
    @nugs8506 2 роки тому

    this only applies to demand-pull inflation right? For cost-push the Phillips curve won't describe it well

  • @ismatsarwan6088
    @ismatsarwan6088 7 років тому

    Hi sir:
    could you please discuss those topics e.g how do you close inflation Gap and deflationary gap using fiscal and Monetary policy. and what causes these gaps, how to close these gaps and what the impact of those gaps on economy. thank you sir

  • @bumbfart
    @bumbfart 8 років тому +2

    i love you man

  • @regularman4063
    @regularman4063 Рік тому

    When showing why the SRPC shifts, why does it never go into deflation, like the previous diagram

    • @billyfox6368
      @billyfox6368 Рік тому +1

      It does. That's where it crosses the origin.

  • @syedanisa1769
    @syedanisa1769 2 роки тому

    Take ❤️ from Bangladesh 🇧🇩

  • @karvenperamal3827
    @karvenperamal3827 8 років тому +4

    when unemployment is low, workers are NOT scarce ? I'm lost :/

    • @EconplusDal
      @EconplusDal  8 років тому +7

      +Karven Peramal Yes they are, when unemployment is low, many workers are in work. Hence to find new workers is difficult, they are scarce

    • @karvenperamal3827
      @karvenperamal3827 8 років тому +3

      +EconplusDal oh now I get it! Thanks

  • @zuheirzahid8927
    @zuheirzahid8927 8 років тому +1

    Hey, I really love your videos. Can you please do a video on the Aggregate Expenditure Function.

  • @harsh0811
    @harsh0811 9 років тому

    Could a critique be that Keynesian economists would say well it depends where we are in the economic cycle?

  • @Riconel7
    @Riconel7 8 років тому

    i love you !!!!!

  • @samiksharajpuria2651
    @samiksharajpuria2651 7 років тому

    do u have notes

  • @jasondew1054
    @jasondew1054 3 роки тому +1

    Sorry but I am a little bit confused. If you shift AD to the left, that means the price level has fallen. But according to the Philips curve, that'd give you a movement along the curve, and in this case, you said it may drop to a 1% inflation rate. Does that not contradict the fall in the price level, since inflation means an increase in the price level?

  • @WattoPlays
    @WattoPlays 7 років тому

    cheeky stuff

  • @gemaskerdebeuker8511
    @gemaskerdebeuker8511 7 років тому +1

    at 5:12 you mean inflation right?

  • @enoma1608
    @enoma1608 2 роки тому

    1:57 "When unemployment is low, workers are very scarce" Can someone explain this to me? I thought of it as the opposite wherein if there are lots of workers wouldn't that mean jobs are scarce? Not workers?

    • @OriginalMaestro
      @OriginalMaestro 2 роки тому

      The assumption is that with low unemployment there is a high demand for workers by firms. Which means that workers are in high Demand hence scarce

  • @MC10W
    @MC10W 3 місяці тому

    What is the evaluation . How can the gov try I limit the Trade off that exists ????
    And not only this what is the Ebaluation what idea this depend on ??

    • @nonsoottih7405
      @nonsoottih7405 Місяць тому +2

      I think an evaluation point is that firms have become significantly technologically inclined and hence more capital intensive. As a result, you could argue that changes in the unemployment level will not have a large effect on wage growth and the inflation rate.

  • @christiansowden6155
    @christiansowden6155 2 роки тому

    cold

  • @patrickethanjohnson8781
    @patrickethanjohnson8781 8 років тому

    realistically we do not send 350million a week to brussells arrrhhhhhh this advert is on every video! very annoying but great video as per

  • @elkrump5518
    @elkrump5518 5 років тому +1

    daddy dal notice me senpai

  • @Travelingman-1980
    @Travelingman-1980 4 роки тому

    Doesn't work in an over indebted economy. Consumption will not be there to increase inflation despite low unemployment, wages are still flat.

  • @fatimamansoor259
    @fatimamansoor259 8 років тому +11

    econplusdaaal chawal

  • @Travelingman-1980
    @Travelingman-1980 4 роки тому

    The Phillips Curve is currently bust...low employment and low wage growth.

  • @gianfrancocassanova8284
    @gianfrancocassanova8284 3 роки тому

    I wasted 2 hrs on this material and still dont understand and all i need is 15 mins vids