Externalities revision

As a light-hearted test of do you get negative externalities have a look at the following and explain what is the negative externality:

http://www.criticalcommons.org/Members/jtierney86/clips/the-big-bang-theory-negative-externalities-of-a

The key with negative externalities is explaining the third party effect and to what extent you can place a financial figure on the external cost. This problem is with missing information, in identifying the size of the external cost, is a key debating issue.

Be careful in ensuring you focus on negative external costs of production as explained in this following Tutor2u clip:


https://www.youtube.com/watch?v=nW0Gl_CFoJU

Finally negative externalities have macro implications - so worth taking a look at this TED talk, thanks to Louis Rifat for passing on:

https://www.youtube.com/watch?v=J9_Xc9wxByM

For positive externalities of consumption - take a look at the following clip:

https://www.youtube.com/watch?v=U8qDf5jg92w

Playing 'Monopoly' for real.

Great TED talk here, thanks to Michael Hudson for bringing it to my attention, offers insights that get you thinking about rational decision making and the financial markets.

https://www.youtube.com/watch?v=_VB39Jo8mAQ

Exchange Rate falls...

Succinct video coverage here of the Marshall lerner condition: https://www.youtube.com/watch?v=51vsB2c_m9s

Trump's Economy

Interesting BBC Radio 4 piece : http://www.bbc.co.uk/programmes/b08byp9l

Multiplier

In the ongoing global financial crisis the multiplier remains a central concept to master:

https://www.youtube.com/watch?v=dOWX_SFf9KY