What do the data -- especially from randomized control trials -- suggest about the effectiveness of microcredit? Development Economics course: http://mruniversity.com/courses/development-economics-0 Ask a question about the video: http://mruniversity.com/courses/development-economics/microcredit-evidence#QandA Next video: http://mruniversity.com/courses/development-economics/robert-townsend ... https://www.youtube.com/watch?v=0TlQv0MXLmc

Tyler Cowen, "I don't always agree with him (Dani Rodrik), but his recent paper on productivity convergence is one of my current favorites, just brilliant. He has revived the tradition of political economy in many areas of development economics and is always concise and to the point." Development Economics course: http://mruniversity.com/courses/development-economics-0 Ask a question about the video: http://mruniversity.com/courses/development-economics/dani-rodrik#QandA Next video: http://mruniversity.com/courses/development-economics/daron-acemoglu ... https://www.youtube.com/watch?v=OQRGK-OFY70

What happened to the cleanliness of your clothes after the U.S. Department of Energy issued new washing machine requirements? The requirements — which require washers to use 21% less energy — mean that washers actually clean clothes less than they used to. Is “command and control" an efficient way to achieve the desired outcome (which is less pollution)? Rather than a standard requirement, such as the Department of Energy issued, a tax on electricity would provide users with greater flexibility in their washing—and would prompt people to purchase machines that use energy more efficiently and keep their clothes clean. Are there times when a command and control solution to a problem makes the most sense? We look at the eradication of smallpox as one example. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1Ro4kTL Next video: http://bit.ly/1oHUJhD ... https://www.youtube.com/watch?v=gRolVmFOk1U

Thinking on the margin is one of the most fundamental concepts in economics–and a valuable everyday tool for making optimal decisions. For such an important idea, the meaning of marginal thinking is surprisingly simple: when faced with a decision, you should compare the marginal benefit of a possible action to its marginal cost. If the marginal benefit is greater than the marginal cost, do it! Marginal thinking is best illustrated by some examples of everyday decisions. The volume you choose when you watch TV, the pricing strategy of a clothing shop, or even the decision to walk out of a boring film are all informed by marginal thinking. The “Sunk Cost Fallacy” is a common failure to apply marginal thinking. Focusing on past decisions–the price we paid for an item, the time we’ve already invested in a relationship–can lead us astray. We can’t change the past, so only the potential marginal benefit and marginal cost of the next possible action are relevant to decision-making. Get our FREE Intro to Economics unit plan: https://mru.io/y7r Continue learning with practice questions: https://mru.io/8ya Watch the next video: https://mru.io/0my ... https://www.youtube.com/watch?v=B9MPklfyRHI