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Negative Externalitites: A Graphical Introduction

In this video, I provide a graphically-fun introduction to the concept of negative externalities. I demonstrate that externalities must involve a third party who is harmed (negative externalities) or benefited (positive externalities) from the market interaction of consumers and producers. This is a really basic treatment of the material. For a more sophisticated view of externalities, see my main video: http://www.youtube.com/watch?v=zYfdNxB584A Even that video does not provide a complete view of the externality question. A more complete understanding of externalities involves understanding the Coase Theorem. I have two videos on this: http://www.youtube.com/watch?v=RIugTo0ivWI http://www.youtube.com/watch?v=q_7g18f_6w4 Subscribe to my channel if you want access to all of my resources on microeconomics, statistics and econometrics. For a list of videos and links to these videos (organized by topic), check out the Intromediate Microeconomics video web page: http://blog.thisyoungeconomist.com/p/learn-microeconomics.html
Length: 05:43

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