The Importance of Institutions

So far, in our Principles of Macroeconomics class at MRUniversity we’ve covered GDP (how it is calculated, nominal versus real, GDP as a measure of the standard of living etc.). We have also covered the basic facts about differences in income both across countries and over time, the importance of growth rates, and the presence of growth miracles and growth disasters, among other topics.

In our latest video, Tyler covers the Importance of Institutions. Next up geography and growth and shortly after that on to the Solow model!

As always, these videos are freely available for non-commercial use. They can be used with any textbook but why would you want any but the best?


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