Return to Video

An Introduction to Externalities

No subtitles available.
Title:
An Introduction to Externalities
Description:

What are externalities and what are the different kinds of costs? And what does this have to do with the rise of “superbugs"? This video is an introduction to externalities, including the concepts of private cost, external cost, and social cost. Using the example of antibiotics and viruses, we take a look at how costs are passed along to different members of society beyond the producer and consumer. We’ll use a chart to illustrate how to calculate the effects of a Pigouvian tax, and we provide definitions for the other key terms that will be used throughout this video series.

Microeconomics Course: http://mruniversity.com/courses/principles-economics-microeconomics

Ask a question about the video: http://mruniversity.com/courses/principles-economics-microeconomics/externalities-definition-pigovian-tax#QandA

Next video: http://mruniversity.com/courses/principles-economics-microeconomics/flu-shot-positive-externalities-pigovian-subsidy

more » « less
Video Language:
English
Team:
Marginal Revolution University
Project:
Micro
Duration:
12:15
There has been no activity on this language so far.

Indonesian subtitles

No revisions available.