Econs crash course

so understanding the basics of econs is very important coming to investment
I personally didnt have any background on finance or econs but I am very interested in learning
So i spent my past 2 days focusing on ths 35 videos of crash course
which basically I divided into 3 MAIN PARTS!

FIRST, knowing what is econs and the type of econs aka macro vs microecons as well as the basic terms such as supply demand, productivity and growth
SECOND, coming into case scenario such as inflation and bubbles, deficit and debt, and the approach use to overcome it such as mnetary and fiscal policy, Yellen policy
THIRD, knowing finance and the most imp scenaro used will be 2008 crisis! and then we will go global to import export, poverty, inequality

LASTLY, after building up the basics, is time to apply to real life, HOW TO START YOUR OWN BUSINESS.But how> you first need to understand the meaning of price signal,  revenue and profit,how to build the effective market , risk management, how taxes apply, how to play with human psybology and understandthe sector u go into, be it a economic of education, environmental, healthcare, death, underground, immigration and happiness> and play your monopoly game or oligopoly? hhaa

So, let's start with WHAT is econs?

knowing your taxes before you start your business!
-tax is what we pay fr civilisation, why do we pay? for govermentservice ? or well being of the society? use fr environment? fiscal and monetary policy? to even the rich and the poor?
-type of tax? and the purpose?
-luxury tax- to avoid using oil and fat food by giving carbon tax?
-direct tax
-indirect tax- collect by seller and pay by consumer regardless money they made
-regressive tax- nothing better fr lower income
-toll taxes
-progressive- help to shift the tax to people with more people, like income tax in US, shift those richer to higher tax bracket
-flat tax sounds fair but not good fr countries with too rich and too poor people
-remember the salt march by Mathama bringing people pay attention to tax

behavioral econs?
first understand a few words
animal spirit? when people go irrational
what is bounded rationality?
framing effect?- means people keep making the same decision giving the identical opinion
nudge theory?
-concept wic argues that nudge encourage people toact certain way without chaniging their choices
-risk neutal and loss aversion- loss is more painful that gain is more pleasurable

know your game? monopoly?
monopolistic competition- for thse with similar product
-oligopoly is those with high barrier of entry
-FUNFACT- only half ads works
-also understand crash ourse nesting doolls
-collusion- secret agreementor illegal purpose, thus is important to understand the prce matrix

econs of healthcare
-Canada- private
-France- privare
-UK- all paid b govern
-USA- little of all, spend almost 8t45 per pax in 2012
understand premium mean medical care cost provide by iindividual and company

labor market?
-understand the presence of monopsony- happens wen market demand plainly depends on one buyer!

econs of underground econs?
the breakthrough point is, how is it measure? by electricity use compare to its GDP!

econs of immigration?
WHy GOOD? HOW IT helps in econmics productivity and GDP?
So let start frm knowing the basics,   
the voluntery immigration, in 1930, european immigration was curtailed and asian immigration was banned, but in1960, it was allowed then.
so the research show with inc immigration, increase overall GDP and productivity!
people first has the concept of the immigration surplus, however it only apply and those who live in country before immigrants arrive? the higher the skill workers ability, the higher the surplus



foreign aid!!! How many%?
-1%, Sweden the most generous to the world, humanitarian and environment.
Back to history. After world war, United Nation build up, together with INF for peace, George Marshall  insisted tht US should help to return the ecnomic health.Thus the Marshall plan, 1949 extended to other countries, to lay the ground world fr US foreign progamme.,
1960 6 biliion up to 26 billion fr poverty and AIDS,  more to foreign collony such as Egypt by France,
why?so they will import more from the borrower.
-However, if it is corrupted? is it encourage by national aid?
what is remittence?
is the money due to immigration


econs of happiness? high salary and less transport!
Let's recognise the few terms
Reference income hypothesis- compare to the others
Eastern paradox- the higher income doesnt guarantee happiness
Hedonic treadmill- habitual make people enjoy
GNH- growth National Happiness  used as indication of happiness