The Growth of Marginal Revolution University

by on November 13, 2017 at 7:25 am in Economics | Permalink

Tyler and I are always pleased to get emails like this:

Dear Prof Alex and Prof Tyler,

I write to express my profound gratitude to you and your team for putting those videos online for the benefit of mankind. I am currently running an Executive MBA at University of Ibadan School of Business in Nigeria. Your videos have been extremely useful to me and lots of my colleagues. Exam comes up tomorrow. I am revising with your videos again. Everything is made simple, easy to understand, remember and apply. I look forward to sharing my exam success story with you in addition to applying the principles to a personal business in the nearest future.

I can’t thank you enough.

Ibrahim HAMMED

And here are two from teachers of economics at high schools in the United States:

Dear Profs,

I’m an Economics teacher at a public charter school in Mesa, Arizona. I use your videos in my class on a regular basis. My students and I love you. Thank you for all that you do!

Ben Fenton

Gentlemen,

As a high school Economics teacher, I am constantly trying to make lessons interesting and relevant. Your video series is a terrific resource and I am thankful you have invested your time and resources into making these interesting, understandable, and relevant videos. Please pass along my thanks to anyone associated with your very useful site.

Many thanks,

Bruce Jones, Economics Teacher, Hiram High School

1 Alan November 13, 2017 at 7:29 am

When econ topics come up, I have my 12 YO watch the vid as an “explainer”. Thanks Professors.

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2 The Other Jim November 13, 2017 at 8:33 am

I’ve asked this before but do you think you and Tyler could start doing ASMR versions of your videos?

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3 rayward November 13, 2017 at 8:43 am

I’m a believer in learning fundamentals, because they are the building blocks to an in-depth understanding of any subject. The MRU videos teach economic fundamentals in a way that is relevant and entertaining. Because the subject of economics has become polarized (salt water vs. fresh water, etc.), it’s easy to forget that economic fundamentals are not really in dispute, but rather it’s how best to respond to particular circumstances (e.g., excessive unemployment, monopoly, inflation, financial crisis, excessive inequality, etc.) that is in dispute. I’ve made the comment many times that markets (i.e., the forces of economic fundamentals) will eventually correct imbalances, even excessive inequality. My point isn’t to suggest that market corrections are always the best corrections, but to emphasize the efficiency of markets (i.e., economic fundamentals). If one doesn’t have an understanding, and an appreciation, of how markets (economic fundamentals) work, how can one intelligently formulate economic policy. It would be equivalent to a physician treating every patient with the most aggressive therapy or the least aggressive therapy without regard to what’s actually wrong with the patient – sometimes doing nothing is the best therapy.

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4 Hadur November 13, 2017 at 9:02 am

I have no doubt that the videos are improving the quality of human capital across the globe. But they do not improve the ability of viewers to signal and that means their impact will be marginal.

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5 dearieme November 13, 2017 at 9:25 am

“I look forward to sharing my exam success story with you in addition to applying the principles to a personal business in the nearest future.” Oh, subtle.

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6 clockwork_prior November 13, 2017 at 9:52 am

Well, at least I waited to point out that the Nigeria e-mail sounded ever so subtle, particularly if someone responded to it, wishing the sender luck in their endeavours in the future.

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7 Jeff R November 13, 2017 at 11:48 am

I’ll make the obvious joke: he’ll probably need some help moving a few million dollars out of the country soon, too, Alex, so if you would just send him your bank account and routing numbers….

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8 Just Another MR Commentor November 13, 2017 at 3:24 pm

Oh this whole post was a complete self-own of Alex by himself.

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9 Daniel Klein November 13, 2017 at 10:39 am

Nice to read, thanks. You two are doing amazing work, a boon to users and an inspiration to others.

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10 chris purnell November 13, 2017 at 11:50 am

Perhaps their students will just cut out the middle man?

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11 Anonymous November 13, 2017 at 10:49 am

Checking MRU on YouTube stats, 73k subscribers, 840k views on the Introduction. That seems pretty good. Congratulations.

https://www.youtube.com/user/MrUniversity

MRU’s own pages are very nice, but for a different perspective.

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12 Paul November 13, 2017 at 6:36 pm

I use them. They are much better than the stale materials publishers create to accompany their books. Why is that?

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13 clockwork_prior November 14, 2017 at 4:19 am

Because the Mercatus Center is in a different business than a publisher?

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14 Anonymous November 14, 2017 at 9:23 am

Let’s say I watch every single on of the videos in MRU and work to truly understand what is said in them. How do I compare to your average economics student about to finish their bachelor’s?

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15 Ian Maitland November 14, 2017 at 9:39 am

Hear, hear!

My MBA class at the U of Minn. last night were required to refresh their memories about market failures by watching Alex’s fabulous video on external costs and reading Tyler’s brilliant piece on public goods at Econlib. (He had a lot more hair when he wrote that).

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