Macro: Unit 5.1 -- The Balance of Payments

Hey Everyone! I'm Mr. Willis, and You Will Love Economics! In this video, I will: Discuss the benefits of trade Define an open and closed economy Analyze the effect of world prices and tariffs on the quantity of goods and services demanded and supplied in the domestic economy Discuss the categories that make up a nation's current and capital (financial) account balances Identify what transactions are included in a nation's current and capital (financial) accounts Practice calculating the balance of a nation's current and capital account, and ultimately, the nation's trade balance Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video: https://www.teacherspayteachers.com/P... Follow our store on Teachers Pay Teachers https://www.teacherspayteachers.com/S... Look for us on Social Media: Instagram --   / youwillloveh.  . Facebook --   / youwilllovehi.  . Subscribe to our YouTube Channel:    / youwillloveeconomics   Check out our website for teaching tips and insight from us: https://sites.google.com/view/you-wil...