Macro: Unit 5.1 -- The Balance of Payments

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!

In this video, I will:
- Discuss the benefits of trade
- Define an open and closed economy
- Analyze the effect of world prices and tariffs on the quantity of goods and services
demanded and supplied in the domestic economy
- Discuss the categories that make up a nation's current and capital (financial) account
balances
- Identify what transactions are included in a nation's current and capital (financial) accounts
- Practice calculating the balance of a nation's current and capital account, and ultimately,
the nation's trade balance

Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:

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[aubreyjdickens]

thanks for saving me from my horrific midterm tomorrow, can always count on you, willis

[tbaiftikhar]

Thank you for this video. Easy to understand these terms now. Keep up the good work !

[shivangisharma]

God bless you saved me today ...thank you so much

[sindinkosi]

Wow-what a powerful presentation. Thank you.

[subhankar.g]

So much better than Jacob clifford. and everything is free as well!

[CarlosMartinez-jprq]

Sufficiently basic to be awesome. Thank you
Follow the money!!

[jegaatheesrajendram]

it is a really nice and amazing explanation ... Thank you

[warisharehan]

Well explained, you just saved me, so thankyou!

[chahatsharma]

Thank you for such an amazing explanation

[HusseinDoha]

Thanks for the video. In striking this delicate balance between protecting and maintaining domestic industries, and opening up imports of goods which will make consumers save money, the cost of losing economic activity in a region (unemployment) due to the impact of importing cheaper goods, ought to be accounted for. Unemployment bring devastating social problems like depression and crimes.

If the way cheaper goods come from places that lack labour, health and environmental regulations. Competition to lower the cost of production can only come by disregarding these fundamental safety regulations.

[agnayidas]

Well explained, I genuinely loved it but I wish the lecture was available in a PDF...to read n revise the concepts.

[Claymunism]

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[gisahamza]

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[drjesuselshaddai]

You are the best. You just saved my head

[josephyearsago]

Please explain New classical macro economics

[prateekgoyal]

what is the difference between capital account balance and current account balance?

[imeshkalana]

Sir Could you explain Relationship of International finance and International trade