Lecture 1: Introduction to 14.02 Principles of Macroeconomics

Macroeconomics gets a lot more interesting when you understand the bigger picture behind everyday life.

Can a non-economics background student understand it?? Is it designed for them too??

Great lecturer!

🎧

Thank you, sir. Your explanation is very clear and helpful.❤

This is amazing stuff like this is free. Thanks!

15:01

The first graph he shows from Goldman sachs was not presented well.
He completely neglected to mention that it's showing wages vs. inflation EXCLUDING housing inflation! But housing prices have inflated massively in the US over last few decades. This is an important part of this graph to make a note of.

thanks

I’m genuinely mind-blown by the clarity of this!

This is incredible. How blessed are we to have access to this information for free. I wanted to learn more about the economy and MIT said "Bless up bröther we got a whole course for you" I think I could attempt for 1000 years to get into MIT and never make it. But still have access to what they have to offer. I really am grateful

I’m stunned by how much sense this makes now!

"Inflation is always and everywhere a monetary phenomenon" - Milton Friedman In other words it is because of the central bank/s and commercial banks printing money. There are various tactics that they employ to increase the money supply. Inflation going up is not the result of wages going up. Inflation like wages are the result of money manipulation by banks and governments. Be careful learning economics from colleges and universities, they are directed by governments and special interests of the elitist group of government, bankers and wealthy class to brainwash and misinform us of what is really going on. These institutions and the main stream media will ALWAYS point their fingers at such and such war, supply chains, the weather, etc. They will never ever admit that they are expanding the money supply and bad government policies. The main tool that central banks have for dealing with inflation is not interest rates, it is rhetoric. They talk a lot and try to maintain faith through talk (most of which is lies). That is first tool and main tool. When the lies aren't working anymore then they use their 2nd tool which is interest rates. Then when the sh*t hits the fan they resort to QE (aka money printing). The whole system is designed to keep people working and producing stuff and services for the wealthy. The system is feudalism.

jose mourinho is teaching economics too?

This is pure brilliance in video form!

GOATED. But spanish roadman trying to tie his shoe on the teacher desk was typical roadmen etiquette

Thank you for putting this course up for FREE! It's incredible, I'm going to go through the whole thing. You've got a subscriber <3

My econ course in high school was not well-equipped during COVID, I am so glad to be learning these topics now. I am an architecture major, but this stuff is incredibly important, especially now with our current administration.

Good to upload it for the world, but the fundamental principles that this summary is based on are unclear:

1. "what should central banks do about inflation?" - W/o acknowledging they are the instruments through which inflation is interjected and the origin of the cantillon effect.

The marginal utility of currency should diminish close to 0% but infact is upwards of 6% a year.

2. Overtime, if we (humans) get more productive, things should get cheaper .. not more expensive. So monetary policy influences who benefits when the supply of money is expanded.. or in other words, who pays the tax and who receives the benefits.

The "keynsian" view should be rejected if we see high unemployment and high inflation right? Because, that would mean the central bank levers are broken.

I’m convinced this video is powered by sorcery.

I’m genuinely excited to learn more from you!

This is absolutely wonderful. I’m a first semester business student, living in Germany. Those videos are very helpful when preparing for my exam in macroeconomics, and I’m sure, that it’s a big help for students all around the world. Such an interesting topic!

My brain did a happy dance, I swear.

My brain unlocked a hidden achievement thanks to this.

thank you,this was easy to follow

doing this class next semester lets see if im cooked after this 30 min video

I was so lost I needed a map, but this video was the GPS.

I understood this so fast I need a moment to process my new identity.

This video deserves a global holiday in its honor.

I’m seriously motivated after watching this!

You made learning actually fun!

42 year old Canadian, returning to school for my Econ degree, I took intro to Macro in 2004, this series has helped me so much prepare for my return to school after 20 years. Thank you.

Thank you so much for sharing these lectures!

Keynsian slop

There is not necessarily a connection between aggregate wage growth and inflation …

There’s basic, then there’s basic 😂

Macro economics is energy blind. https://youtu.be/kZA9Hnp3aV4
Money is a pyramid scheme, recession/inflation is the stress of growth on a finite/declining energy supply. https://youtu.be/kw0QVwt7LVI unemployment rises because capital fires their labor to attempt to maintain profits to pay interest on borrowed money.

Is it necessary to use a guy where English isn't his first language and where he can't stop moving?

The paradox of macro: the closer we get to control, the further we drift from equilibrium.

Watching this with hindsight is really interesting

How to trut

Damn, I have an urge to attend this class. Gotta looking for a scholarships for international students

Fantastic, thank you MIT! Please keep them coming!

Pursuit of understanding economics day 1 🎉