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VideoMMMU_ASR_large/Art/new_Art_1.mp4.txt

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+[4.21s -> 16.50s]  There are seven elements of art and they could be considered the building blocks of art everything That is created starts from these seven things
+[16.85s -> 27.20s]  These seven words and their definitions and understanding them are the vocabulary we will use when we describe works of art and talk about things together.
+[27.20s -> 32.66s]  All of you must be able to define and identify these seven things.
+[38.64s -> 52.85s]  Line is the first building block or element of art. Line is a path created by a moving point, mark, or object. Line can be straight, swirly, wavy, jagged.
+[52.85s -> 66.05s]  dotted dashed broken you get the point it can be squiggly or straight it can be diagonal vertical horizontal parallel perpendicular thick thin
+[66.05s -> 71.34s]  There are many things that can be done with line, as you can see here in these examples.
+[88.24s -> 97.33s]  Shape is a two-dimensional flat enclosed area. When a line crosses over itself it closes to create a shape.
+[97.71s -> 111.63s]  There are geometric shapes, like squares, triangles, circles, rectangles, and ovals, and organic shapes, which would be everything else, like a leaf or a butterfly.
+[124.75s -> 137.68s]  Form is a three-dimensional shape. It has height, width, and depth. It would be something you could walk around. Forms are things like cubes, cylinders, and spheres.
+[137.68s -> 146.03s]  On a flat surface you can use shading and perspective to make a flat shape turn into a form.
+[167.22s -> 177.46s]  Value is the lightness or darkness of an object. A black and white object can have value and so can a colored object.
+[178.26s -> 191.07s]  It is the effect of light and shade in a picture. Some of the words we would use to just to talk about value would be tint and that's when you add white to something or make it lighter and shade.
+[191.07s -> 194.61s]  which is when you add black to something or make it darker.
+[213.33s -> 226.26s]  Color, also known as hue, can add interest and mood to pieces of art. The primary colors are red, blue, yellow. There are also secondary colors and tertiary colors.
+[226.26s -> 239.54s]  You can have warm colors or cool colors, tints, lighter colors or shades, darker colors. And you can use color to add emphasis and interest to your work.
+[254.22s -> 267.68s]  Texture is how something feels or looks like it would feel if you could touch it. There are two kinds of texture. There's real texture, so that would be like a sculpture you could actually touch.
+[267.68s -> 276.82s]  implied texture which is when an artist makes something look like it has texture even though you can't feel it
+[292.59s -> 304.13s]  Space is the element of art that refers to the emptiness or area around or within objects. Positive space refers to the part of the artwork that takes up the space.
+[304.13s -> 307.82s]  Negative space is the area around that object.
+[308.24s -> 321.74s]  This element of art also refers to the parts of a picture, so you can have the foreground, middle ground, and background. Perspective is another way to show that there is space and dimension in an artwork.

VideoMMMU_ASR_large/Art/new_Art_2.mp4.txt

@@ -0,0 +1,20 @@
+[4.21s -> 16.50s]  There are seven elements of art and they could be considered the building blocks of art everything That is created starts from these seven things
+[16.85s -> 27.20s]  These seven words and their definitions and understanding them are the vocabulary we will use when we describe works of art and talk about things together.
+[27.20s -> 32.66s]  All of you must be able to define and identify these seven things.
+[38.64s -> 52.85s]  Line is the first building block or element of art. Line is a path created by a moving point, mark, or object. Line can be straight, swirly, wavy, jagged.
+[52.85s -> 66.05s]  dotted dashed broken you get the point it can be squiggly or straight it can be diagonal vertical horizontal parallel perpendicular thick thin
+[66.05s -> 71.34s]  There are many things that can be done with line, as you can see here in these examples.
+[88.24s -> 97.33s]  Shape is a two-dimensional flat enclosed area. When a line crosses over itself it closes to create a shape.
+[97.71s -> 111.63s]  There are geometric shapes, like squares, triangles, circles, rectangles, and ovals, and organic shapes, which would be everything else, like a leaf or a butterfly.
+[124.75s -> 137.68s]  Form is a three-dimensional shape. It has height, width, and depth. It would be something you could walk around. Forms are things like cubes, cylinders, and spheres.
+[137.68s -> 146.03s]  On a flat surface you can use shading and perspective to make a flat shape turn into a form.
+[167.22s -> 177.46s]  Value is the lightness or darkness of an object. A black and white object can have value and so can a colored object.
+[178.26s -> 191.07s]  It is the effect of light and shade in a picture. Some of the words we would use to just to talk about value would be tint and that's when you add white to something or make it lighter and shade.
+[191.07s -> 194.61s]  which is when you add black to something or make it darker.
+[213.33s -> 226.26s]  Color, also known as hue, can add interest and mood to pieces of art. The primary colors are red, blue, yellow. There are also secondary colors and tertiary colors.
+[226.26s -> 239.54s]  You can have warm colors or cool colors, tints, lighter colors or shades, darker colors. And you can use color to add emphasis and interest to your work.
+[254.22s -> 267.68s]  Texture is how something feels or looks like it would feel if you could touch it. There are two kinds of texture. There's real texture, so that would be like a sculpture you could actually touch.
+[267.68s -> 276.82s]  implied texture which is when an artist makes something look like it has texture even though you can't feel it
+[292.59s -> 304.13s]  Space is the element of art that refers to the emptiness or area around or within objects. Positive space refers to the part of the artwork that takes up the space.
+[304.13s -> 307.82s]  Negative space is the area around that object.
+[308.24s -> 321.74s]  This element of art also refers to the parts of a picture, so you can have the foreground, middle ground, and background. Perspective is another way to show that there is space and dimension in an artwork.

VideoMMMU_ASR_large/Art/new_Art_4.mp4.txt

@@ -0,0 +1,20 @@
+[4.21s -> 16.50s]  There are seven elements of art and they could be considered the building blocks of art everything That is created starts from these seven things
+[16.85s -> 27.20s]  These seven words and their definitions and understanding them are the vocabulary we will use when we describe works of art and talk about things together.
+[27.20s -> 32.66s]  All of you must be able to define and identify these seven things.
+[38.64s -> 52.85s]  Line is the first building block or element of art. Line is a path created by a moving point, mark, or object. Line can be straight, swirly, wavy, jagged.
+[52.85s -> 66.05s]  dotted dashed broken you get the point it can be squiggly or straight it can be diagonal vertical horizontal parallel perpendicular thick thin
+[66.05s -> 71.34s]  There are many things that can be done with line, as you can see here in these examples.
+[88.24s -> 97.33s]  Shape is a two-dimensional flat enclosed area. When a line crosses over itself it closes to create a shape.
+[97.71s -> 111.63s]  There are geometric shapes, like squares, triangles, circles, rectangles, and ovals, and organic shapes, which would be everything else, like a leaf or a butterfly.
+[124.75s -> 137.68s]  Form is a three-dimensional shape. It has height, width, and depth. It would be something you could walk around. Forms are things like cubes, cylinders, and spheres.
+[137.68s -> 146.03s]  On a flat surface you can use shading and perspective to make a flat shape turn into a form.
+[167.22s -> 177.46s]  Value is the lightness or darkness of an object. A black and white object can have value and so can a colored object.
+[178.26s -> 191.07s]  It is the effect of light and shade in a picture. Some of the words we would use to just to talk about value would be tint and that's when you add white to something or make it lighter and shade.
+[191.07s -> 194.61s]  which is when you add black to something or make it darker.
+[213.33s -> 226.26s]  Color, also known as hue, can add interest and mood to pieces of art. The primary colors are red, blue, yellow. There are also secondary colors and tertiary colors.
+[226.26s -> 239.54s]  You can have warm colors or cool colors, tints, lighter colors or shades, darker colors. And you can use color to add emphasis and interest to your work.
+[254.22s -> 267.68s]  Texture is how something feels or looks like it would feel if you could touch it. There are two kinds of texture. There's real texture, so that would be like a sculpture you could actually touch.
+[267.68s -> 276.82s]  implied texture which is when an artist makes something look like it has texture even though you can't feel it
+[292.59s -> 304.13s]  Space is the element of art that refers to the emptiness or area around or within objects. Positive space refers to the part of the artwork that takes up the space.
+[304.13s -> 307.82s]  Negative space is the area around that object.
+[308.24s -> 321.74s]  This element of art also refers to the parts of a picture, so you can have the foreground, middle ground, and background. Perspective is another way to show that there is space and dimension in an artwork.

VideoMMMU_ASR_large/Art/new_Art_Theory_1.mp4.txt

@@ -0,0 +1,54 @@
+[0.00s -> 10.75s]  Surrealism. The surrealism was an artistic and literary movement that emerged in the early 20th century aiming to explore the unconscious mind and unleash creativity beyond rationality.
+[10.75s -> 25.12s]  Led by figures like Andre Breton and Salvador Dali, Surrealists sought to depict dreamlike imagery, juxtaposing unrelated elements in surprising ways to provoke thought and evoke strong emotions. Surrealist artworks often feature fantastical landscapes,
+[25.12s -> 32.08s]  bizarre creatures and symbolic motifs, inviting viewers to interpret their meanings freely. Romanticism
+[32.08s -> 43.01s]  The Romanticism art emerged in the late 18th and early 19th centuries as a reaction against the rationalism of the Enlightenment and the strictures of Neoclassicism. It emphasized emotion,
+[43.01s -> 52.77s]  imagination and individualism, celebrating nature, the sublime and the exotic. Romantic artists often depicted dramatic landscapes, turbulent skies,
+[52.77s -> 64.30s]  and awe-inspiring natural phenomena to evoke a sense of the sublime and the ineffable. They also explored themes of nationalism, folklore, and mythology celebrating the spirit of freedom and revolution.
+[64.59s -> 74.40s]  Realism Realism is an artistic movement that emerged in the 19th century primarily in Europe as a reaction against the idealized and romanticized portrayals of life.
+[74.40s -> 88.91s]  It aimed to depict everyday subjects and situations truthfully, without embellishment or idealization. Realist artists often focused on the lives of ordinary people, depicting their struggles, joys, and environments with meticulous detail and accuracy.
+[89.26s -> 101.46s]  Minimalism. The minimalism is an art movement that emerged in the 1960s, characterized by extreme simplicity and a focus on fundamental elements like geometric shapes, basic colors, and clean lines.
+[101.46s -> 107.47s]  artists sought to strip away excess and decoration, creating works that emphasize pure form and presence.
+[107.47s -> 117.54s]  Minimalist art often invites viewers to engage directly with the physical qualities of the artwork and the surrounding space, encouraging contemplation and reflection.
+[117.54s -> 130.19s]  The Renaissance art was characterized by a revival of interest in classical Greek and Roman art, leading to a focus on realism, perspective, and humanism. Renaissance artists such as Leonardo da Vinci, Michelangelo, and Raphael
+[130.19s -> 144.19s]  created works that emphasized accurate depiction of the human form, lifelike expressions, and spatial depth. Their masterpieces, including paintings, sculptures, and architecture, reflected a renewed appreciation for the individual, nature,
+[144.19s -> 158.06s]  and the pursuit of knowledge. Baroque The Baroque art characterized by dramatic use of light and shadow, intense emotion, and rich, detailed compositions. Baroque artists aim to evoke powerful emotional responses in viewers.
+[158.06s -> 169.23s]  often employing dynamic compositions and theatrical effects. Religious themes were prevalent, with artists seeking to convey spiritual messages with heightened drama and intensity.
+[169.23s -> 179.39s]  The Expressionism was an art movement that emerged in the early 20th century, primarily in Germany. It aimed to convey emotional and psychological experiences rather than physical reality.
+[179.39s -> 192.11s]  Often through distorted or exaggerated forms and vivid colors, expressionist artists such as Edvard Munch and Ernst Ludwig Kirchner sought to evoke intense feelings and explore themes of angst, alienation, and inner turmoil.
+[192.11s -> 201.94s]  Abstract Expressionism The Abstract Expressionism was a post-World War II art movement that originated in New York City in the 1940s and 1950s.
+[201.94s -> 213.33s]  It emphasized spontaneous intuitive and emotional expression through abstract forms and gestural brushwork. Artists such as Jackson Pollock, Willem de Kooning, and Mark Rothko were central figures in this movement.
+[213.33s -> 226.50s]  Abstract expressionists often explored themes of individuality, the subconscious, and the act of painting itself, rejecting traditional representation in favor of conveying raw emotion and inner experience on canvas. Fauvism
+[226.50s -> 240.40s]  Favism was an early 20th century art movement characterized by bold colors, spontaneous brushwork, and simplified forms. Artists like Henri Matisse and Andre Duran were key figures, emphasizing emotional expression over realistic representation.
+[240.56s -> 248.34s]  Cubism. The Cubism was an influential art movement pioneered by Pablo Picasso and Georges Braque in the early 20th century.
+[248.34s -> 256.62s]  It revolutionized traditional artistic representation by breaking down subjects into geometric shapes and depicting multiple viewpoints simultaneously.
+[256.62s -> 266.74s]  Cubist artworks often feature fragmented forms, abstract shapes, and a flattened perspective, challenging viewers to rethink how they perceive space and form. Classicism
+[266.74s -> 276.70s]  The classicism refers to a movement in art and literature that draws inspiration from ancient Greek and Roman cultures, particularly their emphasis on harmony, balance, and order.
+[276.70s -> 290.85s]  It emerged during the Renaissance and experienced revivals in various periods, including the 17th and 18th centuries. Classicism prioritizes clarity, simplicity, and idealized forms rejecting the extravagant ornamentation of preceding styles.
+[290.85s -> 301.46s]  Artists like Jacques-Louis David and Nicolas Poussin are renowned for their classical works which often depict heroic or mythological themes with a sense of timeless grandeur and dignity.
+[301.97s -> 308.82s]  Symbolism The symbolism was an artistic and literary movement that emerged in the late 19th century, primarily in France.
+[308.82s -> 317.81s]  It emphasized the use of symbols and metaphors to evoke emotions, dreams, and spiritual experiences. Symbolist artists such as Gustav Klimt and Odilon Radon
+[317.81s -> 332.30s]  sought to convey abstract ideas and inner visions rather than represent objective reality. Symbolism often featured dreamlike imagery, mythological motifs, and richly symbolic content exploring themes of mysticism, spirituality, and the subconscious mind.
+[332.30s -> 343.71s]  Op art. The op art, short for optical art, is a style of visual art that uses optical illusions and geometric patterns to create the impression of a movement, depth, or distortion.
+[343.71s -> 354.46s]  It often employs contrasting colors and precise, repetitive shapes to stimulate the eye and mind, creating a dynamic and sometimes disorienting visual experience. Futurism
+[354.46s -> 368.69s]  The Futurism was an avant-garde movement that emerged in Italy in the early 20th century. It celebrated modern technology, speed, and the dynamism of urban life, advocating for the rejection of traditional artistic forms in favor of embracing the future.
+[368.69s -> 382.05s]  Artists like Umberto Boccioni and Giacomo Balla depicted motion and energy through fragmented forms, dynamic compositions, and vibrant colors. Dada Dada was an avant-garde movement that emerged during World War I.
+[382.05s -> 394.53s]  originating in Zurich, Switzerland. It rejected traditional artistic conventions and embraced absurdity, chaos, and anti-establishment sentiments. Dadaists like Marcel Duchamp and Tristan Tzara used collage.
+[394.53s -> 407.86s]  found objects and performance art to challenge the rationality of society and the art world. Dada's legacy lies in its subversion of artistic norms and its influence on later movements such as surrealism and conceptual art.
+[408.14s -> 418.53s]  Art Nouveau, a late 19th and early 20th century art movement embraced organic forms, flowing lines, and intricate patterns. It emerged as a reaction against the academic art of the time.
+[418.53s -> 430.46s]  seeking to integrate art into everyday life through architecture, interior design, and decorative arts. Inspired by nature and exotic cultures, Art Nouveau artists like Alphonse Mucha and Hector Guimard
+[430.46s -> 436.69s]  aimed to create a total aesthetic experience characterized by its sinuous curves and ornamental motifs.
+[437.20s -> 448.29s]  Impressionism The Impressionism was an art movement in the late 19th century characterized by capturing the fleeting effects of light and atmosphere through loose brushwork and vivid colors.
+[448.29s -> 461.60s]  It focused on depicting everyday scenes, often outdoors, with an emphasis on conveying the artist's impression rather than precise details. Key artists include Claude Monet, Edgar Degas, and Pierre-Auguste Renoir. Post-Impressionism
+[461.60s -> 472.90s]  The Post-Impressionism was an art movement that emerged in the late 19th century as a reaction to Impressionism. Artists associated with Post-Impressionism, such as Paul Cézanne, Vincent Van Gogh, and Georges Seurat,
+[472.90s -> 483.57s]  built upon Impressionist techniques while pushing the boundaries of color, form, and expression. They focused on subjective interpretations of reality using bold colors, distinctive brushwork,
+[483.57s -> 495.47s]  and innovative compositions to convey emotions and ideas. Rococo The Rococo was an artistic movement that flourished in Europe during the 18th century, particularly in France.
+[495.47s -> 509.68s]  It is characterized by its ornate and playful style, featuring delicate pastel colors, asymmetrical compositions, and lavish decorations. Rococo art often depicted scenes of leisure, love, and frivolity reflecting the aristocratic culture of the time.
+[510.06s -> 520.48s]  Neoclassicism The Neoclassicism was an artistic and architectural movement that emerged in the 18th century as a reaction against the excesses of the Rococo style.
+[520.48s -> 529.34s]  Inspired by the ideals of ancient Greek and Roman art, neoclassical artists sought to revive the classical aesthetic of harmony, proportion, and clarity.
+[529.34s -> 542.35s]  Rejecting the ornate decoration of the rococo, neoclassical works emphasized clean lines, symmetry, and a return to classical subject matter, such as historical events and mythological themes. Mannerism
+[542.35s -> 554.75s]  The Mannerism was an art movement that emerged in the late Renaissance period, primarily in Italy during the 16th century. It is characterized by a departure from the balance, harmony, and naturalism of high Renaissance art.
+[554.75s -> 567.50s]  Mannerist artists deliberately distorted proportions, exaggerated poses, and employed intricate compositions to create a sense of elegance, sophistication, and intellectual complexity in their works.
+[567.50s -> 581.02s]  The modern art encompasses a wide range of artistic styles and movements that emerged in the late 19th and early 20th centuries, breaking away from traditional forms and techniques. It includes movements like cubism, surrealism,
+[581.02s -> 591.82s]  abstract expressionism, and pop art among others. Modern art often explores new concepts, materials, and techniques and can be highly experimental and diverse in its expressions.
+[592.53s -> 604.45s]  Precisionism. Precisionism was an American art movement in the early 20th century known for its precise, detailed portrayal of urban and industrial landscapes. Artists depicted scenes with sharp lines, geometric shapes, and smooth surfaces.
+[604.45s -> 613.94s]  Capturing the modernization and industrialization of America, this style often emphasized the beauty and order found in architecture, machinery, and infrastructure.

VideoMMMU_ASR_large/Art/new_Art_Theory_2.mp4.txt

@@ -0,0 +1,54 @@
+[0.00s -> 10.75s]  Surrealism. The surrealism was an artistic and literary movement that emerged in the early 20th century aiming to explore the unconscious mind and unleash creativity beyond rationality.
+[10.75s -> 25.12s]  Led by figures like Andre Breton and Salvador Dali, Surrealists sought to depict dreamlike imagery, juxtaposing unrelated elements in surprising ways to provoke thought and evoke strong emotions. Surrealist artworks often feature fantastical landscapes,
+[25.12s -> 32.08s]  bizarre creatures and symbolic motifs, inviting viewers to interpret their meanings freely. Romanticism
+[32.08s -> 43.01s]  The Romanticism art emerged in the late 18th and early 19th centuries as a reaction against the rationalism of the Enlightenment and the strictures of Neoclassicism. It emphasized emotion,
+[43.01s -> 52.77s]  imagination and individualism, celebrating nature, the sublime and the exotic. Romantic artists often depicted dramatic landscapes, turbulent skies,
+[52.77s -> 64.30s]  and awe-inspiring natural phenomena to evoke a sense of the sublime and the ineffable. They also explored themes of nationalism, folklore, and mythology celebrating the spirit of freedom and revolution.
+[64.59s -> 74.40s]  Realism Realism is an artistic movement that emerged in the 19th century primarily in Europe as a reaction against the idealized and romanticized portrayals of life.
+[74.40s -> 88.91s]  It aimed to depict everyday subjects and situations truthfully, without embellishment or idealization. Realist artists often focused on the lives of ordinary people, depicting their struggles, joys, and environments with meticulous detail and accuracy.
+[89.26s -> 101.46s]  Minimalism. The minimalism is an art movement that emerged in the 1960s, characterized by extreme simplicity and a focus on fundamental elements like geometric shapes, basic colors, and clean lines.
+[101.46s -> 107.47s]  artists sought to strip away excess and decoration, creating works that emphasize pure form and presence.
+[107.47s -> 117.54s]  Minimalist art often invites viewers to engage directly with the physical qualities of the artwork and the surrounding space, encouraging contemplation and reflection.
+[117.54s -> 130.19s]  The Renaissance art was characterized by a revival of interest in classical Greek and Roman art, leading to a focus on realism, perspective, and humanism. Renaissance artists such as Leonardo da Vinci, Michelangelo, and Raphael
+[130.19s -> 144.19s]  created works that emphasized accurate depiction of the human form, lifelike expressions, and spatial depth. Their masterpieces, including paintings, sculptures, and architecture, reflected a renewed appreciation for the individual, nature,
+[144.19s -> 158.06s]  and the pursuit of knowledge. Baroque The Baroque art characterized by dramatic use of light and shadow, intense emotion, and rich, detailed compositions. Baroque artists aim to evoke powerful emotional responses in viewers.
+[158.06s -> 169.23s]  often employing dynamic compositions and theatrical effects. Religious themes were prevalent, with artists seeking to convey spiritual messages with heightened drama and intensity.
+[169.23s -> 179.39s]  The Expressionism was an art movement that emerged in the early 20th century, primarily in Germany. It aimed to convey emotional and psychological experiences rather than physical reality.
+[179.39s -> 192.11s]  Often through distorted or exaggerated forms and vivid colors, expressionist artists such as Edvard Munch and Ernst Ludwig Kirchner sought to evoke intense feelings and explore themes of angst, alienation, and inner turmoil.
+[192.11s -> 201.94s]  Abstract Expressionism The Abstract Expressionism was a post-World War II art movement that originated in New York City in the 1940s and 1950s.
+[201.94s -> 213.33s]  It emphasized spontaneous intuitive and emotional expression through abstract forms and gestural brushwork. Artists such as Jackson Pollock, Willem de Kooning, and Mark Rothko were central figures in this movement.
+[213.33s -> 226.50s]  Abstract expressionists often explored themes of individuality, the subconscious, and the act of painting itself, rejecting traditional representation in favor of conveying raw emotion and inner experience on canvas. Fauvism
+[226.50s -> 240.40s]  Favism was an early 20th century art movement characterized by bold colors, spontaneous brushwork, and simplified forms. Artists like Henri Matisse and Andre Duran were key figures, emphasizing emotional expression over realistic representation.
+[240.56s -> 248.34s]  Cubism. The Cubism was an influential art movement pioneered by Pablo Picasso and Georges Braque in the early 20th century.
+[248.34s -> 256.62s]  It revolutionized traditional artistic representation by breaking down subjects into geometric shapes and depicting multiple viewpoints simultaneously.
+[256.62s -> 266.74s]  Cubist artworks often feature fragmented forms, abstract shapes, and a flattened perspective, challenging viewers to rethink how they perceive space and form. Classicism
+[266.74s -> 276.70s]  The classicism refers to a movement in art and literature that draws inspiration from ancient Greek and Roman cultures, particularly their emphasis on harmony, balance, and order.
+[276.70s -> 290.85s]  It emerged during the Renaissance and experienced revivals in various periods, including the 17th and 18th centuries. Classicism prioritizes clarity, simplicity, and idealized forms rejecting the extravagant ornamentation of preceding styles.
+[290.85s -> 301.46s]  Artists like Jacques-Louis David and Nicolas Poussin are renowned for their classical works which often depict heroic or mythological themes with a sense of timeless grandeur and dignity.
+[301.97s -> 308.82s]  Symbolism The symbolism was an artistic and literary movement that emerged in the late 19th century, primarily in France.
+[308.82s -> 317.81s]  It emphasized the use of symbols and metaphors to evoke emotions, dreams, and spiritual experiences. Symbolist artists such as Gustav Klimt and Odilon Radon
+[317.81s -> 332.30s]  sought to convey abstract ideas and inner visions rather than represent objective reality. Symbolism often featured dreamlike imagery, mythological motifs, and richly symbolic content exploring themes of mysticism, spirituality, and the subconscious mind.
+[332.30s -> 343.71s]  Op art. The op art, short for optical art, is a style of visual art that uses optical illusions and geometric patterns to create the impression of a movement, depth, or distortion.
+[343.71s -> 354.46s]  It often employs contrasting colors and precise, repetitive shapes to stimulate the eye and mind, creating a dynamic and sometimes disorienting visual experience. Futurism
+[354.46s -> 368.69s]  The Futurism was an avant-garde movement that emerged in Italy in the early 20th century. It celebrated modern technology, speed, and the dynamism of urban life, advocating for the rejection of traditional artistic forms in favor of embracing the future.
+[368.69s -> 382.05s]  Artists like Umberto Boccioni and Giacomo Balla depicted motion and energy through fragmented forms, dynamic compositions, and vibrant colors. Dada Dada was an avant-garde movement that emerged during World War I.
+[382.05s -> 394.53s]  originating in Zurich, Switzerland. It rejected traditional artistic conventions and embraced absurdity, chaos, and anti-establishment sentiments. Dadaists like Marcel Duchamp and Tristan Tzara used collage.
+[394.53s -> 407.86s]  found objects and performance art to challenge the rationality of society and the art world. Dada's legacy lies in its subversion of artistic norms and its influence on later movements such as surrealism and conceptual art.
+[408.14s -> 418.53s]  Art Nouveau, a late 19th and early 20th century art movement embraced organic forms, flowing lines, and intricate patterns. It emerged as a reaction against the academic art of the time.
+[418.53s -> 430.46s]  seeking to integrate art into everyday life through architecture, interior design, and decorative arts. Inspired by nature and exotic cultures, Art Nouveau artists like Alphonse Mucha and Hector Guimard
+[430.46s -> 436.69s]  aimed to create a total aesthetic experience characterized by its sinuous curves and ornamental motifs.
+[437.20s -> 448.29s]  Impressionism The Impressionism was an art movement in the late 19th century characterized by capturing the fleeting effects of light and atmosphere through loose brushwork and vivid colors.
+[448.29s -> 461.60s]  It focused on depicting everyday scenes, often outdoors, with an emphasis on conveying the artist's impression rather than precise details. Key artists include Claude Monet, Edgar Degas, and Pierre-Auguste Renoir. Post-Impressionism
+[461.60s -> 472.90s]  The Post-Impressionism was an art movement that emerged in the late 19th century as a reaction to Impressionism. Artists associated with Post-Impressionism, such as Paul Cézanne, Vincent Van Gogh, and Georges Seurat,
+[472.90s -> 483.57s]  built upon Impressionist techniques while pushing the boundaries of color, form, and expression. They focused on subjective interpretations of reality using bold colors, distinctive brushwork,
+[483.57s -> 495.47s]  and innovative compositions to convey emotions and ideas. Rococo The Rococo was an artistic movement that flourished in Europe during the 18th century, particularly in France.
+[495.47s -> 509.68s]  It is characterized by its ornate and playful style, featuring delicate pastel colors, asymmetrical compositions, and lavish decorations. Rococo art often depicted scenes of leisure, love, and frivolity reflecting the aristocratic culture of the time.
+[510.06s -> 520.48s]  Neoclassicism The Neoclassicism was an artistic and architectural movement that emerged in the 18th century as a reaction against the excesses of the Rococo style.
+[520.48s -> 529.34s]  Inspired by the ideals of ancient Greek and Roman art, neoclassical artists sought to revive the classical aesthetic of harmony, proportion, and clarity.
+[529.34s -> 542.35s]  Rejecting the ornate decoration of the rococo, neoclassical works emphasized clean lines, symmetry, and a return to classical subject matter, such as historical events and mythological themes. Mannerism
+[542.35s -> 554.75s]  The Mannerism was an art movement that emerged in the late Renaissance period, primarily in Italy during the 16th century. It is characterized by a departure from the balance, harmony, and naturalism of high Renaissance art.
+[554.75s -> 567.50s]  Mannerist artists deliberately distorted proportions, exaggerated poses, and employed intricate compositions to create a sense of elegance, sophistication, and intellectual complexity in their works.
+[567.50s -> 581.02s]  The modern art encompasses a wide range of artistic styles and movements that emerged in the late 19th and early 20th centuries, breaking away from traditional forms and techniques. It includes movements like cubism, surrealism,
+[581.02s -> 591.82s]  abstract expressionism, and pop art among others. Modern art often explores new concepts, materials, and techniques and can be highly experimental and diverse in its expressions.
+[592.53s -> 604.45s]  Precisionism. Precisionism was an American art movement in the early 20th century known for its precise, detailed portrayal of urban and industrial landscapes. Artists depicted scenes with sharp lines, geometric shapes, and smooth surfaces.
+[604.45s -> 613.94s]  Capturing the modernization and industrialization of America, this style often emphasized the beauty and order found in architecture, machinery, and infrastructure.

VideoMMMU_ASR_large/Art/new_Art_Theory_3.mp4.txt

@@ -0,0 +1,54 @@
+[0.00s -> 10.75s]  Surrealism. The surrealism was an artistic and literary movement that emerged in the early 20th century aiming to explore the unconscious mind and unleash creativity beyond rationality.
+[10.75s -> 25.12s]  Led by figures like Andre Breton and Salvador Dali, Surrealists sought to depict dreamlike imagery, juxtaposing unrelated elements in surprising ways to provoke thought and evoke strong emotions. Surrealist artworks often feature fantastical landscapes,
+[25.12s -> 32.08s]  bizarre creatures and symbolic motifs, inviting viewers to interpret their meanings freely. Romanticism
+[32.08s -> 43.01s]  The Romanticism art emerged in the late 18th and early 19th centuries as a reaction against the rationalism of the Enlightenment and the strictures of Neoclassicism. It emphasized emotion,
+[43.01s -> 52.77s]  imagination and individualism, celebrating nature, the sublime and the exotic. Romantic artists often depicted dramatic landscapes, turbulent skies,
+[52.77s -> 64.30s]  and awe-inspiring natural phenomena to evoke a sense of the sublime and the ineffable. They also explored themes of nationalism, folklore, and mythology celebrating the spirit of freedom and revolution.
+[64.59s -> 74.40s]  Realism Realism is an artistic movement that emerged in the 19th century primarily in Europe as a reaction against the idealized and romanticized portrayals of life.
+[74.40s -> 88.91s]  It aimed to depict everyday subjects and situations truthfully, without embellishment or idealization. Realist artists often focused on the lives of ordinary people, depicting their struggles, joys, and environments with meticulous detail and accuracy.
+[89.26s -> 101.46s]  Minimalism. The minimalism is an art movement that emerged in the 1960s, characterized by extreme simplicity and a focus on fundamental elements like geometric shapes, basic colors, and clean lines.
+[101.46s -> 107.47s]  artists sought to strip away excess and decoration, creating works that emphasize pure form and presence.
+[107.47s -> 117.54s]  Minimalist art often invites viewers to engage directly with the physical qualities of the artwork and the surrounding space, encouraging contemplation and reflection.
+[117.54s -> 130.19s]  The Renaissance art was characterized by a revival of interest in classical Greek and Roman art, leading to a focus on realism, perspective, and humanism. Renaissance artists such as Leonardo da Vinci, Michelangelo, and Raphael
+[130.19s -> 144.19s]  created works that emphasized accurate depiction of the human form, lifelike expressions, and spatial depth. Their masterpieces, including paintings, sculptures, and architecture, reflected a renewed appreciation for the individual, nature,
+[144.19s -> 158.06s]  and the pursuit of knowledge. Baroque The Baroque art characterized by dramatic use of light and shadow, intense emotion, and rich, detailed compositions. Baroque artists aim to evoke powerful emotional responses in viewers.
+[158.06s -> 169.23s]  often employing dynamic compositions and theatrical effects. Religious themes were prevalent, with artists seeking to convey spiritual messages with heightened drama and intensity.
+[169.23s -> 179.39s]  The Expressionism was an art movement that emerged in the early 20th century, primarily in Germany. It aimed to convey emotional and psychological experiences rather than physical reality.
+[179.39s -> 192.11s]  Often through distorted or exaggerated forms and vivid colors, expressionist artists such as Edvard Munch and Ernst Ludwig Kirchner sought to evoke intense feelings and explore themes of angst, alienation, and inner turmoil.
+[192.11s -> 201.94s]  Abstract Expressionism The Abstract Expressionism was a post-World War II art movement that originated in New York City in the 1940s and 1950s.
+[201.94s -> 213.33s]  It emphasized spontaneous intuitive and emotional expression through abstract forms and gestural brushwork. Artists such as Jackson Pollock, Willem de Kooning, and Mark Rothko were central figures in this movement.
+[213.33s -> 226.50s]  Abstract expressionists often explored themes of individuality, the subconscious, and the act of painting itself, rejecting traditional representation in favor of conveying raw emotion and inner experience on canvas. Fauvism
+[226.50s -> 240.40s]  Favism was an early 20th century art movement characterized by bold colors, spontaneous brushwork, and simplified forms. Artists like Henri Matisse and Andre Duran were key figures, emphasizing emotional expression over realistic representation.
+[240.56s -> 248.34s]  Cubism. The Cubism was an influential art movement pioneered by Pablo Picasso and Georges Braque in the early 20th century.
+[248.34s -> 256.62s]  It revolutionized traditional artistic representation by breaking down subjects into geometric shapes and depicting multiple viewpoints simultaneously.
+[256.62s -> 266.74s]  Cubist artworks often feature fragmented forms, abstract shapes, and a flattened perspective, challenging viewers to rethink how they perceive space and form. Classicism
+[266.74s -> 276.70s]  The classicism refers to a movement in art and literature that draws inspiration from ancient Greek and Roman cultures, particularly their emphasis on harmony, balance, and order.
+[276.70s -> 290.85s]  It emerged during the Renaissance and experienced revivals in various periods, including the 17th and 18th centuries. Classicism prioritizes clarity, simplicity, and idealized forms rejecting the extravagant ornamentation of preceding styles.
+[290.85s -> 301.46s]  Artists like Jacques-Louis David and Nicolas Poussin are renowned for their classical works which often depict heroic or mythological themes with a sense of timeless grandeur and dignity.
+[301.97s -> 308.82s]  Symbolism The symbolism was an artistic and literary movement that emerged in the late 19th century, primarily in France.
+[308.82s -> 317.81s]  It emphasized the use of symbols and metaphors to evoke emotions, dreams, and spiritual experiences. Symbolist artists such as Gustav Klimt and Odilon Radon
+[317.81s -> 332.30s]  sought to convey abstract ideas and inner visions rather than represent objective reality. Symbolism often featured dreamlike imagery, mythological motifs, and richly symbolic content exploring themes of mysticism, spirituality, and the subconscious mind.
+[332.30s -> 343.71s]  Op art. The op art, short for optical art, is a style of visual art that uses optical illusions and geometric patterns to create the impression of a movement, depth, or distortion.
+[343.71s -> 354.46s]  It often employs contrasting colors and precise, repetitive shapes to stimulate the eye and mind, creating a dynamic and sometimes disorienting visual experience. Futurism
+[354.46s -> 368.69s]  The Futurism was an avant-garde movement that emerged in Italy in the early 20th century. It celebrated modern technology, speed, and the dynamism of urban life, advocating for the rejection of traditional artistic forms in favor of embracing the future.
+[368.69s -> 382.05s]  Artists like Umberto Boccioni and Giacomo Balla depicted motion and energy through fragmented forms, dynamic compositions, and vibrant colors. Dada Dada was an avant-garde movement that emerged during World War I.
+[382.05s -> 394.53s]  originating in Zurich, Switzerland. It rejected traditional artistic conventions and embraced absurdity, chaos, and anti-establishment sentiments. Dadaists like Marcel Duchamp and Tristan Tzara used collage.
+[394.53s -> 407.86s]  found objects and performance art to challenge the rationality of society and the art world. Dada's legacy lies in its subversion of artistic norms and its influence on later movements such as surrealism and conceptual art.
+[408.14s -> 418.53s]  Art Nouveau, a late 19th and early 20th century art movement embraced organic forms, flowing lines, and intricate patterns. It emerged as a reaction against the academic art of the time.
+[418.53s -> 430.46s]  seeking to integrate art into everyday life through architecture, interior design, and decorative arts. Inspired by nature and exotic cultures, Art Nouveau artists like Alphonse Mucha and Hector Guimard
+[430.46s -> 436.69s]  aimed to create a total aesthetic experience characterized by its sinuous curves and ornamental motifs.
+[437.20s -> 448.29s]  Impressionism The Impressionism was an art movement in the late 19th century characterized by capturing the fleeting effects of light and atmosphere through loose brushwork and vivid colors.
+[448.29s -> 461.60s]  It focused on depicting everyday scenes, often outdoors, with an emphasis on conveying the artist's impression rather than precise details. Key artists include Claude Monet, Edgar Degas, and Pierre-Auguste Renoir. Post-Impressionism
+[461.60s -> 472.90s]  The Post-Impressionism was an art movement that emerged in the late 19th century as a reaction to Impressionism. Artists associated with Post-Impressionism, such as Paul Cézanne, Vincent Van Gogh, and Georges Seurat,
+[472.90s -> 483.57s]  built upon Impressionist techniques while pushing the boundaries of color, form, and expression. They focused on subjective interpretations of reality using bold colors, distinctive brushwork,
+[483.57s -> 495.47s]  and innovative compositions to convey emotions and ideas. Rococo The Rococo was an artistic movement that flourished in Europe during the 18th century, particularly in France.
+[495.47s -> 509.68s]  It is characterized by its ornate and playful style, featuring delicate pastel colors, asymmetrical compositions, and lavish decorations. Rococo art often depicted scenes of leisure, love, and frivolity reflecting the aristocratic culture of the time.
+[510.06s -> 520.48s]  Neoclassicism The Neoclassicism was an artistic and architectural movement that emerged in the 18th century as a reaction against the excesses of the Rococo style.
+[520.48s -> 529.34s]  Inspired by the ideals of ancient Greek and Roman art, neoclassical artists sought to revive the classical aesthetic of harmony, proportion, and clarity.
+[529.34s -> 542.35s]  Rejecting the ornate decoration of the rococo, neoclassical works emphasized clean lines, symmetry, and a return to classical subject matter, such as historical events and mythological themes. Mannerism
+[542.35s -> 554.75s]  The Mannerism was an art movement that emerged in the late Renaissance period, primarily in Italy during the 16th century. It is characterized by a departure from the balance, harmony, and naturalism of high Renaissance art.
+[554.75s -> 567.50s]  Mannerist artists deliberately distorted proportions, exaggerated poses, and employed intricate compositions to create a sense of elegance, sophistication, and intellectual complexity in their works.
+[567.50s -> 581.02s]  The modern art encompasses a wide range of artistic styles and movements that emerged in the late 19th and early 20th centuries, breaking away from traditional forms and techniques. It includes movements like cubism, surrealism,
+[581.02s -> 591.82s]  abstract expressionism, and pop art among others. Modern art often explores new concepts, materials, and techniques and can be highly experimental and diverse in its expressions.
+[592.53s -> 604.45s]  Precisionism. Precisionism was an American art movement in the early 20th century known for its precise, detailed portrayal of urban and industrial landscapes. Artists depicted scenes with sharp lines, geometric shapes, and smooth surfaces.
+[604.45s -> 613.94s]  Capturing the modernization and industrialization of America, this style often emphasized the beauty and order found in architecture, machinery, and infrastructure.

VideoMMMU_ASR_large/Art/new_Art_Theory_4.mp4.txt

@@ -0,0 +1,42 @@
+[0.24s -> 10.45s]  Hi, my name is Taya and I'm here to teach you a little bit about art history. In today's lecture, I'm going to be going through one of my favourite art periods, the Baroque.
+[10.48s -> 23.98s]  This period is known for its painting, architecture, music and poetry as they flourished through 17th century Europe. Encouraged by the Catholic Church, this art style has a rich story that I can't wait to tell you.
+[25.78s -> 37.58s]  The Baroque is a famous style of painting, sculpture, architecture, music, dance, poetry and other arts that was popular from the early 17th century to mid-18th century.
+[37.58s -> 49.10s]  Following the Renaissance and Mannerism, the Baroque was highly encouraged by the Catholic Church as a means to counter the Counter-Reformation and the austerity of Protestant art, music and architecture.
+[49.10s -> 60.11s]  though you can see Lutheran Baroque throughout Europe. The Baroque is primarily known for artists' use of strong contrast, grandeur, exuberant detail, deep colour,
+[60.11s -> 65.26s]  movement and surprise all intended to achieve a sense of awe from their viewers.
+[65.26s -> 76.86s]  The style began in Rome in the early 17th century before it moved rapidly throughout Italy, France, Portugal and Spain. Later it would spread to Poland, southern Germany and Austria.
+[76.86s -> 86.74s]  By the 1730s, the style would transform to a more flamboyant style known as the Rococo, which was common in France and Central Europe till the late 18th century.
+[88.56s -> 101.74s]  The English word baroque is originally French, and some scholars believe the French word originated from the Portuguese term barroco, which means a flawed pearl. Some others suggest it came from the Latin term barroco.
+[101.74s -> 112.26s]  typically used in logic but eventually was utilised to describe anything that was absurdly complex. Some even associate the Latin word with excess, magic and confusion.
+[112.26s -> 124.80s]  By the 18th century the word Baroque was associated with misshapen pearls and therefore often associated with jewellery. From the 18th century it began being used to describe music and not in a nice way either.
+[124.80s -> 135.94s]  By 1788 the term was defined by the Methodical Encyclopedia by Order of Subject Matter as a term used to describe an architectural style that is highly adorned and tormented.
+[135.94s -> 148.62s]  It wasn't until 1888 that a serious work was published on the style by Heinrich Wolflin, titled Renaissance and Baroque, and it described the differences between the styles in relation to painting, sculpture and architecture.
+[149.97s -> 156.19s]  The Baroque architecture style derived from the Catholic Church's reaction to the Protestant Reformation at the Council of Trent.
+[156.19s -> 170.51s]  The Counter-Reformation's first phase imposed a strict academic style of religious architecture that only appealed to intellectuals, not the majority of churchgoers. At the Council of Trent, it was decided that they should appeal to a wider audience, and they made a declaration.
+[170.51s -> 182.11s]  declaration that the arts should communicate religious themes simply, directly and emotionally. Baroque churches were designed to hold a large central space, a dome and paintings on their ceilings.
+[182.11s -> 194.51s]  These were different from the painted ceilings of Michelangelo. The Baroque ceiling paintings were created in a way that allowed viewers on the floor to see the entire ceiling in the correct perspective, leaving the impression that the figures were real.
+[194.51s -> 204.99s]  The interiors of these churches became increasingly ornate, with a focus on the altar. The most celebrated decorative works of the High Baroque include the Baldaccino of St. Peter,
+[204.99s -> 211.31s]  and the chair of Saint Peter both by Gian Lorenzo Bernini in Saint Peter's Basilica in Rome.
+[211.31s -> 223.82s]  In order to create illusions, of which many Baroque buildings are known for, Baroque artists would use forced perspective, which involved making objects appear further away, closer, larger or smaller than it typically is.
+[223.82s -> 238.58s]  Through the use of scaled objects and their correlation with specific vantage points, these architects would manipulate the human visual perception. A statue at the end of the Palazzo Sparta in Rome appears to be life-size, but it's actually 60cm high.
+[239.89s -> 252.46s]  Baroque painters deliberately worked to set themselves apart from the Renaissance and Mannerism. They utilised intense warm colours with particular focus on utilising the primary colours within close proximity.
+[252.46s -> 262.61s]  They avoided the even lighting of Renaissance works, instead choosing strong contrasts of light and dark that would illuminate certain parts of the composition or draw attention to specific figures.
+[262.61s -> 274.43s]  Artists avoided the tranquil sense that was seen through the Renaissance, instead choosing to focus on movement, drama and emotion. They utilized asymmetry within their compositions in order to create a sense of instability.
+[274.43s -> 287.60s]  Their movement was enhanced by depicting costumes being blown by wind or moved by the figure's gestures. The focus of everything was movement, emotion and drama. The final essential element of Baroque painting was the use of allegory.
+[287.60s -> 295.50s]  This basically means that every painting told a story and had a message that could be deduced through symbols and allegorical characters.
+[295.50s -> 309.74s]  In Italy, Baroque artists would collaborate with Baroque architects on decorating interiors. A major painter for this was Pietro da Cortona, who painted for the palace of the Barberini family and worked on the largest frescoes at the Sistine Chapel.
+[310.45s -> 323.95s]  The most important figure for Baroque sculpture was Gian Lorenzo Benigni, who under the patronage of Pope Urban VIII created remarkable and monumental statues depicting saints and figures of immense emotion and realism.
+[323.95s -> 333.62s]  He would also produce rounds with groups of monumental sculptures that decorated the major squares in Rome. Roman statues were the main inspiration behind Baroque sculpture.
+[335.89s -> 347.30s]  There are a few main characteristics that differentiate Rococo and Baroque. Unlike the Baroque, the Rococo style involves an abandonment of asymmetry, though only partial.
+[347.30s -> 361.14s]  The works of the Rococo embraced graceful lines and curves similar to those seen in Art Nouveau, the use of flowers in ornamentation, the use of Chinese and Japanese motifs, and the use of warm pastel colours.
+[362.38s -> 376.98s]  The decline of the Baroque was contributed to by Madame de Pompadour, a mistress of Louis XV, when she sent her nephew on a journey to study Italy's archaeological and artistic developments. Accompanied by several other artists, they returned
+[376.98s -> 379.73s]  with her new passion for classical art.
+[379.73s -> 394.03s]  When he later became the Royal Director of Buildings, he turned official French architecture towards the neoclassical. His contemporary, Nicolas Cochin, became a popular art critic, where he denounced the style of Boucher and called for neoclassical.
+[394.03s -> 395.02s]  works.
+[396.56s -> 411.15s]  An influential figure of the Baroque era is none other than Caravaggio. This artist is highly praised through history for his realistic approach to the human figure, the way he painted directly from real life and his mastery of chiaroscuro. The work Caravaggio created
+[411.15s -> 417.33s]  not only shocked his artistic peers but completely changed the path of art history and the history of painting.
+[418.80s -> 427.18s]  Artemisia Gentileschi is known for being one of the most accomplished painters of the 17th century, producing professional work by the age of 15.
+[427.18s -> 439.70s]  Gentileschi became the first woman to be admitted to the Academy of Arts and Drawing in Florence. Her paintings predominantly featured women from the Bible, allegories and myths, and included warriors, suicides and victims.
+[441.23s -> 452.02s]  Elisabetta Sorani was an Italian Baroque painter and printmaker who was one of the first women artists in early modern Bologna and established an academy for other women artists of her time.
+[453.52s -> 468.11s]  Peter Paul Rubens was the most important painter of the Flemish Baroque style for his highly charged compositions, references to classical and Christian history, and his unique Baroque style that emphasised movement, sensuality and colour. The artist specialised in
+[468.11s -> 480.68s]  portraits, landscapes, history paintings and altarpieces. And that's it for the Baroque. Thank you so much for watching today's video. Don't forget to like and subscribe for more videos just like this.

VideoMMMU_ASR_large/Art/new_Art_Theory_5.mp4.txt

@@ -0,0 +1,42 @@
+[0.24s -> 10.45s]  Hi, my name is Taya and I'm here to teach you a little bit about art history. In today's lecture, I'm going to be going through one of my favourite art periods, the Baroque.
+[10.48s -> 23.98s]  This period is known for its painting, architecture, music and poetry as they flourished through 17th century Europe. Encouraged by the Catholic Church, this art style has a rich story that I can't wait to tell you.
+[25.78s -> 37.58s]  The Baroque is a famous style of painting, sculpture, architecture, music, dance, poetry and other arts that was popular from the early 17th century to mid-18th century.
+[37.58s -> 49.10s]  Following the Renaissance and Mannerism, the Baroque was highly encouraged by the Catholic Church as a means to counter the Counter-Reformation and the austerity of Protestant art, music and architecture.
+[49.10s -> 60.11s]  though you can see Lutheran Baroque throughout Europe. The Baroque is primarily known for artists' use of strong contrast, grandeur, exuberant detail, deep colour,
+[60.11s -> 65.26s]  movement and surprise all intended to achieve a sense of awe from their viewers.
+[65.26s -> 76.86s]  The style began in Rome in the early 17th century before it moved rapidly throughout Italy, France, Portugal and Spain. Later it would spread to Poland, southern Germany and Austria.
+[76.86s -> 86.74s]  By the 1730s, the style would transform to a more flamboyant style known as the Rococo, which was common in France and Central Europe till the late 18th century.
+[88.56s -> 101.74s]  The English word baroque is originally French, and some scholars believe the French word originated from the Portuguese term barroco, which means a flawed pearl. Some others suggest it came from the Latin term barroco.
+[101.74s -> 112.26s]  typically used in logic but eventually was utilised to describe anything that was absurdly complex. Some even associate the Latin word with excess, magic and confusion.
+[112.26s -> 124.80s]  By the 18th century the word Baroque was associated with misshapen pearls and therefore often associated with jewellery. From the 18th century it began being used to describe music and not in a nice way either.
+[124.80s -> 135.94s]  By 1788 the term was defined by the Methodical Encyclopedia by Order of Subject Matter as a term used to describe an architectural style that is highly adorned and tormented.
+[135.94s -> 148.62s]  It wasn't until 1888 that a serious work was published on the style by Heinrich Wolflin, titled Renaissance and Baroque, and it described the differences between the styles in relation to painting, sculpture and architecture.
+[149.97s -> 156.19s]  The Baroque architecture style derived from the Catholic Church's reaction to the Protestant Reformation at the Council of Trent.
+[156.19s -> 170.51s]  The Counter-Reformation's first phase imposed a strict academic style of religious architecture that only appealed to intellectuals, not the majority of churchgoers. At the Council of Trent, it was decided that they should appeal to a wider audience, and they made a declaration.
+[170.51s -> 182.11s]  declaration that the arts should communicate religious themes simply, directly and emotionally. Baroque churches were designed to hold a large central space, a dome and paintings on their ceilings.
+[182.11s -> 194.51s]  These were different from the painted ceilings of Michelangelo. The Baroque ceiling paintings were created in a way that allowed viewers on the floor to see the entire ceiling in the correct perspective, leaving the impression that the figures were real.
+[194.51s -> 204.99s]  The interiors of these churches became increasingly ornate, with a focus on the altar. The most celebrated decorative works of the High Baroque include the Baldaccino of St. Peter,
+[204.99s -> 211.31s]  and the chair of Saint Peter both by Gian Lorenzo Bernini in Saint Peter's Basilica in Rome.
+[211.31s -> 223.82s]  In order to create illusions, of which many Baroque buildings are known for, Baroque artists would use forced perspective, which involved making objects appear further away, closer, larger or smaller than it typically is.
+[223.82s -> 238.58s]  Through the use of scaled objects and their correlation with specific vantage points, these architects would manipulate the human visual perception. A statue at the end of the Palazzo Sparta in Rome appears to be life-size, but it's actually 60cm high.
+[239.89s -> 252.46s]  Baroque painters deliberately worked to set themselves apart from the Renaissance and Mannerism. They utilised intense warm colours with particular focus on utilising the primary colours within close proximity.
+[252.46s -> 262.61s]  They avoided the even lighting of Renaissance works, instead choosing strong contrasts of light and dark that would illuminate certain parts of the composition or draw attention to specific figures.
+[262.61s -> 274.43s]  Artists avoided the tranquil sense that was seen through the Renaissance, instead choosing to focus on movement, drama and emotion. They utilized asymmetry within their compositions in order to create a sense of instability.
+[274.43s -> 287.60s]  Their movement was enhanced by depicting costumes being blown by wind or moved by the figure's gestures. The focus of everything was movement, emotion and drama. The final essential element of Baroque painting was the use of allegory.
+[287.60s -> 295.50s]  This basically means that every painting told a story and had a message that could be deduced through symbols and allegorical characters.
+[295.50s -> 309.74s]  In Italy, Baroque artists would collaborate with Baroque architects on decorating interiors. A major painter for this was Pietro da Cortona, who painted for the palace of the Barberini family and worked on the largest frescoes at the Sistine Chapel.
+[310.45s -> 323.95s]  The most important figure for Baroque sculpture was Gian Lorenzo Benigni, who under the patronage of Pope Urban VIII created remarkable and monumental statues depicting saints and figures of immense emotion and realism.
+[323.95s -> 333.62s]  He would also produce rounds with groups of monumental sculptures that decorated the major squares in Rome. Roman statues were the main inspiration behind Baroque sculpture.
+[335.89s -> 347.30s]  There are a few main characteristics that differentiate Rococo and Baroque. Unlike the Baroque, the Rococo style involves an abandonment of asymmetry, though only partial.
+[347.30s -> 361.14s]  The works of the Rococo embraced graceful lines and curves similar to those seen in Art Nouveau, the use of flowers in ornamentation, the use of Chinese and Japanese motifs, and the use of warm pastel colours.
+[362.38s -> 376.98s]  The decline of the Baroque was contributed to by Madame de Pompadour, a mistress of Louis XV, when she sent her nephew on a journey to study Italy's archaeological and artistic developments. Accompanied by several other artists, they returned
+[376.98s -> 379.73s]  with her new passion for classical art.
+[379.73s -> 394.03s]  When he later became the Royal Director of Buildings, he turned official French architecture towards the neoclassical. His contemporary, Nicolas Cochin, became a popular art critic, where he denounced the style of Boucher and called for neoclassical.
+[394.03s -> 395.02s]  works.
+[396.56s -> 411.15s]  An influential figure of the Baroque era is none other than Caravaggio. This artist is highly praised through history for his realistic approach to the human figure, the way he painted directly from real life and his mastery of chiaroscuro. The work Caravaggio created
+[411.15s -> 417.33s]  not only shocked his artistic peers but completely changed the path of art history and the history of painting.
+[418.80s -> 427.18s]  Artemisia Gentileschi is known for being one of the most accomplished painters of the 17th century, producing professional work by the age of 15.
+[427.18s -> 439.70s]  Gentileschi became the first woman to be admitted to the Academy of Arts and Drawing in Florence. Her paintings predominantly featured women from the Bible, allegories and myths, and included warriors, suicides and victims.
+[441.23s -> 452.02s]  Elisabetta Sorani was an Italian Baroque painter and printmaker who was one of the first women artists in early modern Bologna and established an academy for other women artists of her time.
+[453.52s -> 468.11s]  Peter Paul Rubens was the most important painter of the Flemish Baroque style for his highly charged compositions, references to classical and Christian history, and his unique Baroque style that emphasised movement, sensuality and colour. The artist specialised in
+[468.11s -> 480.68s]  portraits, landscapes, history paintings and altarpieces. And that's it for the Baroque. Thank you so much for watching today's video. Don't forget to like and subscribe for more videos just like this.

VideoMMMU_ASR_large/Art/new_Art_Theory_6.mp4.txt

@@ -0,0 +1,42 @@
+[0.24s -> 10.45s]  Hi, my name is Taya and I'm here to teach you a little bit about art history. In today's lecture, I'm going to be going through one of my favourite art periods, the Baroque.
+[10.48s -> 23.98s]  This period is known for its painting, architecture, music and poetry as they flourished through 17th century Europe. Encouraged by the Catholic Church, this art style has a rich story that I can't wait to tell you.
+[25.78s -> 37.58s]  The Baroque is a famous style of painting, sculpture, architecture, music, dance, poetry and other arts that was popular from the early 17th century to mid-18th century.
+[37.58s -> 49.10s]  Following the Renaissance and Mannerism, the Baroque was highly encouraged by the Catholic Church as a means to counter the Counter-Reformation and the austerity of Protestant art, music and architecture.
+[49.10s -> 60.11s]  though you can see Lutheran Baroque throughout Europe. The Baroque is primarily known for artists' use of strong contrast, grandeur, exuberant detail, deep colour,
+[60.11s -> 65.26s]  movement and surprise all intended to achieve a sense of awe from their viewers.
+[65.26s -> 76.86s]  The style began in Rome in the early 17th century before it moved rapidly throughout Italy, France, Portugal and Spain. Later it would spread to Poland, southern Germany and Austria.
+[76.86s -> 86.74s]  By the 1730s, the style would transform to a more flamboyant style known as the Rococo, which was common in France and Central Europe till the late 18th century.
+[88.56s -> 101.74s]  The English word baroque is originally French, and some scholars believe the French word originated from the Portuguese term barroco, which means a flawed pearl. Some others suggest it came from the Latin term barroco.
+[101.74s -> 112.26s]  typically used in logic but eventually was utilised to describe anything that was absurdly complex. Some even associate the Latin word with excess, magic and confusion.
+[112.26s -> 124.80s]  By the 18th century the word Baroque was associated with misshapen pearls and therefore often associated with jewellery. From the 18th century it began being used to describe music and not in a nice way either.
+[124.80s -> 135.94s]  By 1788 the term was defined by the Methodical Encyclopedia by Order of Subject Matter as a term used to describe an architectural style that is highly adorned and tormented.
+[135.94s -> 148.62s]  It wasn't until 1888 that a serious work was published on the style by Heinrich Wolflin, titled Renaissance and Baroque, and it described the differences between the styles in relation to painting, sculpture and architecture.
+[149.97s -> 156.19s]  The Baroque architecture style derived from the Catholic Church's reaction to the Protestant Reformation at the Council of Trent.
+[156.19s -> 170.51s]  The Counter-Reformation's first phase imposed a strict academic style of religious architecture that only appealed to intellectuals, not the majority of churchgoers. At the Council of Trent, it was decided that they should appeal to a wider audience, and they made a declaration.
+[170.51s -> 182.11s]  declaration that the arts should communicate religious themes simply, directly and emotionally. Baroque churches were designed to hold a large central space, a dome and paintings on their ceilings.
+[182.11s -> 194.51s]  These were different from the painted ceilings of Michelangelo. The Baroque ceiling paintings were created in a way that allowed viewers on the floor to see the entire ceiling in the correct perspective, leaving the impression that the figures were real.
+[194.51s -> 204.99s]  The interiors of these churches became increasingly ornate, with a focus on the altar. The most celebrated decorative works of the High Baroque include the Baldaccino of St. Peter,
+[204.99s -> 211.31s]  and the chair of Saint Peter both by Gian Lorenzo Bernini in Saint Peter's Basilica in Rome.
+[211.31s -> 223.82s]  In order to create illusions, of which many Baroque buildings are known for, Baroque artists would use forced perspective, which involved making objects appear further away, closer, larger or smaller than it typically is.
+[223.82s -> 238.58s]  Through the use of scaled objects and their correlation with specific vantage points, these architects would manipulate the human visual perception. A statue at the end of the Palazzo Sparta in Rome appears to be life-size, but it's actually 60cm high.
+[239.89s -> 252.46s]  Baroque painters deliberately worked to set themselves apart from the Renaissance and Mannerism. They utilised intense warm colours with particular focus on utilising the primary colours within close proximity.
+[252.46s -> 262.61s]  They avoided the even lighting of Renaissance works, instead choosing strong contrasts of light and dark that would illuminate certain parts of the composition or draw attention to specific figures.
+[262.61s -> 274.43s]  Artists avoided the tranquil sense that was seen through the Renaissance, instead choosing to focus on movement, drama and emotion. They utilized asymmetry within their compositions in order to create a sense of instability.
+[274.43s -> 287.60s]  Their movement was enhanced by depicting costumes being blown by wind or moved by the figure's gestures. The focus of everything was movement, emotion and drama. The final essential element of Baroque painting was the use of allegory.
+[287.60s -> 295.50s]  This basically means that every painting told a story and had a message that could be deduced through symbols and allegorical characters.
+[295.50s -> 309.74s]  In Italy, Baroque artists would collaborate with Baroque architects on decorating interiors. A major painter for this was Pietro da Cortona, who painted for the palace of the Barberini family and worked on the largest frescoes at the Sistine Chapel.
+[310.45s -> 323.95s]  The most important figure for Baroque sculpture was Gian Lorenzo Benigni, who under the patronage of Pope Urban VIII created remarkable and monumental statues depicting saints and figures of immense emotion and realism.
+[323.95s -> 333.62s]  He would also produce rounds with groups of monumental sculptures that decorated the major squares in Rome. Roman statues were the main inspiration behind Baroque sculpture.
+[335.89s -> 347.30s]  There are a few main characteristics that differentiate Rococo and Baroque. Unlike the Baroque, the Rococo style involves an abandonment of asymmetry, though only partial.
+[347.30s -> 361.14s]  The works of the Rococo embraced graceful lines and curves similar to those seen in Art Nouveau, the use of flowers in ornamentation, the use of Chinese and Japanese motifs, and the use of warm pastel colours.
+[362.38s -> 376.98s]  The decline of the Baroque was contributed to by Madame de Pompadour, a mistress of Louis XV, when she sent her nephew on a journey to study Italy's archaeological and artistic developments. Accompanied by several other artists, they returned
+[376.98s -> 379.73s]  with her new passion for classical art.
+[379.73s -> 394.03s]  When he later became the Royal Director of Buildings, he turned official French architecture towards the neoclassical. His contemporary, Nicolas Cochin, became a popular art critic, where he denounced the style of Boucher and called for neoclassical.
+[394.03s -> 395.02s]  works.
+[396.56s -> 411.15s]  An influential figure of the Baroque era is none other than Caravaggio. This artist is highly praised through history for his realistic approach to the human figure, the way he painted directly from real life and his mastery of chiaroscuro. The work Caravaggio created
+[411.15s -> 417.33s]  not only shocked his artistic peers but completely changed the path of art history and the history of painting.
+[418.80s -> 427.18s]  Artemisia Gentileschi is known for being one of the most accomplished painters of the 17th century, producing professional work by the age of 15.
+[427.18s -> 439.70s]  Gentileschi became the first woman to be admitted to the Academy of Arts and Drawing in Florence. Her paintings predominantly featured women from the Bible, allegories and myths, and included warriors, suicides and victims.
+[441.23s -> 452.02s]  Elisabetta Sorani was an Italian Baroque painter and printmaker who was one of the first women artists in early modern Bologna and established an academy for other women artists of her time.
+[453.52s -> 468.11s]  Peter Paul Rubens was the most important painter of the Flemish Baroque style for his highly charged compositions, references to classical and Christian history, and his unique Baroque style that emphasised movement, sensuality and colour. The artist specialised in
+[468.11s -> 480.68s]  portraits, landscapes, history paintings and altarpieces. And that's it for the Baroque. Thank you so much for watching today's video. Don't forget to like and subscribe for more videos just like this.

VideoMMMU_ASR_large/Art/new_Art_Theory_7.mp4.txt

@@ -0,0 +1,42 @@
+[0.24s -> 10.45s]  Hi, my name is Taya and I'm here to teach you a little bit about art history. In today's lecture, I'm going to be going through one of my favourite art periods, the Baroque.
+[10.48s -> 23.98s]  This period is known for its painting, architecture, music and poetry as they flourished through 17th century Europe. Encouraged by the Catholic Church, this art style has a rich story that I can't wait to tell you.
+[25.78s -> 37.58s]  The Baroque is a famous style of painting, sculpture, architecture, music, dance, poetry and other arts that was popular from the early 17th century to mid-18th century.
+[37.58s -> 49.10s]  Following the Renaissance and Mannerism, the Baroque was highly encouraged by the Catholic Church as a means to counter the Counter-Reformation and the austerity of Protestant art, music and architecture.
+[49.10s -> 60.11s]  though you can see Lutheran Baroque throughout Europe. The Baroque is primarily known for artists' use of strong contrast, grandeur, exuberant detail, deep colour,
+[60.11s -> 65.26s]  movement and surprise all intended to achieve a sense of awe from their viewers.
+[65.26s -> 76.86s]  The style began in Rome in the early 17th century before it moved rapidly throughout Italy, France, Portugal and Spain. Later it would spread to Poland, southern Germany and Austria.
+[76.86s -> 86.74s]  By the 1730s, the style would transform to a more flamboyant style known as the Rococo, which was common in France and Central Europe till the late 18th century.
+[88.56s -> 101.74s]  The English word baroque is originally French, and some scholars believe the French word originated from the Portuguese term barroco, which means a flawed pearl. Some others suggest it came from the Latin term barroco.
+[101.74s -> 112.26s]  typically used in logic but eventually was utilised to describe anything that was absurdly complex. Some even associate the Latin word with excess, magic and confusion.
+[112.26s -> 124.80s]  By the 18th century the word Baroque was associated with misshapen pearls and therefore often associated with jewellery. From the 18th century it began being used to describe music and not in a nice way either.
+[124.80s -> 135.94s]  By 1788 the term was defined by the Methodical Encyclopedia by Order of Subject Matter as a term used to describe an architectural style that is highly adorned and tormented.
+[135.94s -> 148.62s]  It wasn't until 1888 that a serious work was published on the style by Heinrich Wolflin, titled Renaissance and Baroque, and it described the differences between the styles in relation to painting, sculpture and architecture.
+[149.97s -> 156.19s]  The Baroque architecture style derived from the Catholic Church's reaction to the Protestant Reformation at the Council of Trent.
+[156.19s -> 170.51s]  The Counter-Reformation's first phase imposed a strict academic style of religious architecture that only appealed to intellectuals, not the majority of churchgoers. At the Council of Trent, it was decided that they should appeal to a wider audience, and they made a declaration.
+[170.51s -> 182.11s]  declaration that the arts should communicate religious themes simply, directly and emotionally. Baroque churches were designed to hold a large central space, a dome and paintings on their ceilings.
+[182.11s -> 194.51s]  These were different from the painted ceilings of Michelangelo. The Baroque ceiling paintings were created in a way that allowed viewers on the floor to see the entire ceiling in the correct perspective, leaving the impression that the figures were real.
+[194.51s -> 204.99s]  The interiors of these churches became increasingly ornate, with a focus on the altar. The most celebrated decorative works of the High Baroque include the Baldaccino of St. Peter,
+[204.99s -> 211.31s]  and the chair of Saint Peter both by Gian Lorenzo Bernini in Saint Peter's Basilica in Rome.
+[211.31s -> 223.82s]  In order to create illusions, of which many Baroque buildings are known for, Baroque artists would use forced perspective, which involved making objects appear further away, closer, larger or smaller than it typically is.
+[223.82s -> 238.58s]  Through the use of scaled objects and their correlation with specific vantage points, these architects would manipulate the human visual perception. A statue at the end of the Palazzo Sparta in Rome appears to be life-size, but it's actually 60cm high.
+[239.89s -> 252.46s]  Baroque painters deliberately worked to set themselves apart from the Renaissance and Mannerism. They utilised intense warm colours with particular focus on utilising the primary colours within close proximity.
+[252.46s -> 262.61s]  They avoided the even lighting of Renaissance works, instead choosing strong contrasts of light and dark that would illuminate certain parts of the composition or draw attention to specific figures.
+[262.61s -> 274.43s]  Artists avoided the tranquil sense that was seen through the Renaissance, instead choosing to focus on movement, drama and emotion. They utilized asymmetry within their compositions in order to create a sense of instability.
+[274.43s -> 287.60s]  Their movement was enhanced by depicting costumes being blown by wind or moved by the figure's gestures. The focus of everything was movement, emotion and drama. The final essential element of Baroque painting was the use of allegory.
+[287.60s -> 295.50s]  This basically means that every painting told a story and had a message that could be deduced through symbols and allegorical characters.
+[295.50s -> 309.74s]  In Italy, Baroque artists would collaborate with Baroque architects on decorating interiors. A major painter for this was Pietro da Cortona, who painted for the palace of the Barberini family and worked on the largest frescoes at the Sistine Chapel.
+[310.45s -> 323.95s]  The most important figure for Baroque sculpture was Gian Lorenzo Benigni, who under the patronage of Pope Urban VIII created remarkable and monumental statues depicting saints and figures of immense emotion and realism.
+[323.95s -> 333.62s]  He would also produce rounds with groups of monumental sculptures that decorated the major squares in Rome. Roman statues were the main inspiration behind Baroque sculpture.
+[335.89s -> 347.30s]  There are a few main characteristics that differentiate Rococo and Baroque. Unlike the Baroque, the Rococo style involves an abandonment of asymmetry, though only partial.
+[347.30s -> 361.14s]  The works of the Rococo embraced graceful lines and curves similar to those seen in Art Nouveau, the use of flowers in ornamentation, the use of Chinese and Japanese motifs, and the use of warm pastel colours.
+[362.38s -> 376.98s]  The decline of the Baroque was contributed to by Madame de Pompadour, a mistress of Louis XV, when she sent her nephew on a journey to study Italy's archaeological and artistic developments. Accompanied by several other artists, they returned
+[376.98s -> 379.73s]  with her new passion for classical art.
+[379.73s -> 394.03s]  When he later became the Royal Director of Buildings, he turned official French architecture towards the neoclassical. His contemporary, Nicolas Cochin, became a popular art critic, where he denounced the style of Boucher and called for neoclassical.
+[394.03s -> 395.02s]  works.
+[396.56s -> 411.15s]  An influential figure of the Baroque era is none other than Caravaggio. This artist is highly praised through history for his realistic approach to the human figure, the way he painted directly from real life and his mastery of chiaroscuro. The work Caravaggio created
+[411.15s -> 417.33s]  not only shocked his artistic peers but completely changed the path of art history and the history of painting.
+[418.80s -> 427.18s]  Artemisia Gentileschi is known for being one of the most accomplished painters of the 17th century, producing professional work by the age of 15.
+[427.18s -> 439.70s]  Gentileschi became the first woman to be admitted to the Academy of Arts and Drawing in Florence. Her paintings predominantly featured women from the Bible, allegories and myths, and included warriors, suicides and victims.
+[441.23s -> 452.02s]  Elisabetta Sorani was an Italian Baroque painter and printmaker who was one of the first women artists in early modern Bologna and established an academy for other women artists of her time.
+[453.52s -> 468.11s]  Peter Paul Rubens was the most important painter of the Flemish Baroque style for his highly charged compositions, references to classical and Christian history, and his unique Baroque style that emphasised movement, sensuality and colour. The artist specialised in
+[468.11s -> 480.68s]  portraits, landscapes, history paintings and altarpieces. And that's it for the Baroque. Thank you so much for watching today's video. Don't forget to like and subscribe for more videos just like this.

VideoMMMU_ASR_large/Art/new_Design_1.mp4.txt

@@ -0,0 +1,26 @@
+[0.66s -> 14.90s]  If the elements of art we just learned about, line, shape, form, value, color, texture, space, are the building blocks of art, then the principles of design explain how the artists used those blocks.
+[14.90s -> 22.26s]  how they chose to build in this short video i'm going to focus on 10 of those principles of design
+[32.02s -> 38.14s]  Let's start with pattern. Pattern is an orderly repetition of an object.
+[38.14s -> 50.37s]  You can see here that these artists found something that they liked an element of some sort and they repeated it over and over in their artwork Sometimes it's everything's not exactly
+[50.37s -> 58.83s]  the same but there's definitely a pattern going on and you'll even see in this portrait that there is a pattern within the shapes
+[62.93s -> 70.42s]  The principle of contrast is a juxtaposition that accentuates differences.
+[70.77s -> 84.43s]  This can be done often with color, but also with types of things. Here you see a pepper with apples. And here you have a natural object against man-made objects. It can be size.
+[84.56s -> 98.10s]  difference in texture a difference in darks and lights color and even the types of lines that are used as you see here and with this flower
+[102.99s -> 115.81s]  Balance is a distribution of equal visual weight and what's important to note is that it doesn't mean it has to be a mirrored image. These first examples are symmetrical.
+[115.81s -> 126.64s]  balanced images where you could almost fold your paper and have the same thing on each side it's symmetrical mirrored even
+[130.99s -> 145.33s]  These next images are asymmetrically balanced. They are weighted evenly in different ways, whether it's the quantity one big versus several little, or even though this cake is smaller, it is brighter and makes the white.
+[145.33s -> 146.42s]  even.
+[151.50s -> 164.78s]  Repetition sets up a feeling of rhythm by repeating the same shapes, texture, color, stroke, etc. So you'll see in these examples that there is something about each
+[164.78s -> 166.64s]  picture that is repeated.
+[166.96s -> 181.36s]  oftentimes the style and use of line or color or shading is repeated as well so it's not necessarily just the object but also the way the artist put the object on the page
+[184.82s -> 199.36s]  Emphasis is an accentuation of importance. It's the part of the artwork our eye is drawn to first. An artist uses color very often when trying to employ this principle of design. Color, shape,
+[199.36s -> 205.01s]  Size and placement are just some ways to emphasize part of an art piece.
+[215.44s -> 229.07s]  Movement is a directed path of optical motion. Movement is the direction our eyes wander through a scene. It can be directed by lines or by a change in color or even scale.
+[248.46s -> 254.54s]  Harmony refers to a way of combining elements to accent their similarities.
+[256.43s -> 266.54s]  A picture seems to be bound together as a whole when the elements are harmonious and it tends to have a visually satisfying effect.
+[278.42s -> 293.17s]  proximity is the placement of objects whether near or far from each other elements near each other are perceived as being related while elements spaced apart are perceived as belonging to separate groups
+[310.22s -> 322.74s]  Rhythm is a repetitive, organized movement or visual flow within an image. As you'll see in these examples, there is something similar that gets repeated over and over but it forms a
+[322.74s -> 328.88s]  type of rhythm. You know what to expect next, just like when you clap your hands to a beat.
+[337.30s -> 347.84s]  proportion is a scaling of objects in relation to each other proportion appeals to our sense of depth and scaling using relative size
+[347.84s -> 361.26s]  And elements feel right when they appear to be as they should be. But as you can see, proportion can be tweaked and we can make things as they're not supposed to be. It depends on what the artist is trying to get to.
+[364.37s -> 371.25s]  To create an effective composition an artist will always employ one or more of the principles of design.

VideoMMMU_ASR_large/Art/new_Design_2.mp4.txt

@@ -0,0 +1,26 @@
+[0.66s -> 14.90s]  If the elements of art we just learned about, line, shape, form, value, color, texture, space, are the building blocks of art, then the principles of design explain how the artists used those blocks.
+[14.90s -> 22.26s]  how they chose to build in this short video i'm going to focus on 10 of those principles of design
+[32.02s -> 38.14s]  Let's start with pattern. Pattern is an orderly repetition of an object.
+[38.14s -> 50.37s]  You can see here that these artists found something that they liked an element of some sort and they repeated it over and over in their artwork Sometimes it's everything's not exactly
+[50.37s -> 58.83s]  the same but there's definitely a pattern going on and you'll even see in this portrait that there is a pattern within the shapes
+[62.93s -> 70.42s]  The principle of contrast is a juxtaposition that accentuates differences.
+[70.77s -> 84.43s]  This can be done often with color, but also with types of things. Here you see a pepper with apples. And here you have a natural object against man-made objects. It can be size.
+[84.56s -> 98.10s]  difference in texture a difference in darks and lights color and even the types of lines that are used as you see here and with this flower
+[102.99s -> 115.81s]  Balance is a distribution of equal visual weight and what's important to note is that it doesn't mean it has to be a mirrored image. These first examples are symmetrical.
+[115.81s -> 126.64s]  balanced images where you could almost fold your paper and have the same thing on each side it's symmetrical mirrored even
+[130.99s -> 145.33s]  These next images are asymmetrically balanced. They are weighted evenly in different ways, whether it's the quantity one big versus several little, or even though this cake is smaller, it is brighter and makes the white.
+[145.33s -> 146.42s]  even.
+[151.50s -> 164.78s]  Repetition sets up a feeling of rhythm by repeating the same shapes, texture, color, stroke, etc. So you'll see in these examples that there is something about each
+[164.78s -> 166.64s]  picture that is repeated.
+[166.96s -> 181.36s]  oftentimes the style and use of line or color or shading is repeated as well so it's not necessarily just the object but also the way the artist put the object on the page
+[184.82s -> 199.36s]  Emphasis is an accentuation of importance. It's the part of the artwork our eye is drawn to first. An artist uses color very often when trying to employ this principle of design. Color, shape,
+[199.36s -> 205.01s]  Size and placement are just some ways to emphasize part of an art piece.
+[215.44s -> 229.07s]  Movement is a directed path of optical motion. Movement is the direction our eyes wander through a scene. It can be directed by lines or by a change in color or even scale.
+[248.46s -> 254.54s]  Harmony refers to a way of combining elements to accent their similarities.
+[256.43s -> 266.54s]  A picture seems to be bound together as a whole when the elements are harmonious and it tends to have a visually satisfying effect.
+[278.42s -> 293.17s]  proximity is the placement of objects whether near or far from each other elements near each other are perceived as being related while elements spaced apart are perceived as belonging to separate groups
+[310.22s -> 322.74s]  Rhythm is a repetitive, organized movement or visual flow within an image. As you'll see in these examples, there is something similar that gets repeated over and over but it forms a
+[322.74s -> 328.88s]  type of rhythm. You know what to expect next, just like when you clap your hands to a beat.
+[337.30s -> 347.84s]  proportion is a scaling of objects in relation to each other proportion appeals to our sense of depth and scaling using relative size
+[347.84s -> 361.26s]  And elements feel right when they appear to be as they should be. But as you can see, proportion can be tweaked and we can make things as they're not supposed to be. It depends on what the artist is trying to get to.
+[364.37s -> 371.25s]  To create an effective composition an artist will always employ one or more of the principles of design.

VideoMMMU_ASR_large/Art/new_Design_6.mp4.txt

@@ -0,0 +1,30 @@
+[1.33s -> 13.01s]  Color. It plays a vital role in design and everyday life. It can draw your eye to an image, evoke a certain mood or emotion,
+[14.03s -> 27.70s]  even communicate something important without using words at all. So how do we know which colors look good together and which ones don't? The answer is simple. Color theory.
+[28.98s -> 43.70s]  Artists and designers have followed color theory for centuries, but anyone can learn more about it. It can help you feel confident in many different situations, whether it's choosing colors for a design or putting together the perfect outfit.
+[45.26s -> 56.02s]  All it takes is a little insight, and you'll be looking at color in a whole new way. Let's start at the beginning, the very beginning, with a refresher on the basics.
+[56.85s -> 71.06s]  Remember learning about primary and secondary colors in school? Then you already have some knowledge of color theory. Red and yellow make orange, yellow and blue make green, and blue and red make purple.
+[71.86s -> 84.88s]  If we mix these colors together, we get even more in-between shades, like red-orange and yellow-green. All together, they form what's called a color wheel. You can probably see where it gets its name.
+[85.65s -> 99.89s]  Now, let's take it one step further with hue, saturation, and value. These are terms you might never see in daily life, but they're the key to understanding more nuanced colors, like all those little paint chips at the home improvement store.
+[101.71s -> 114.80s]  Hue is the easiest one. It's basically just another word for color. Saturation refers to intensity. In other words, whether the color appears more subtle or more vibrant.
+[115.86s -> 128.88s]  Value has to do with how dark or light the color is, ranging from black to white. As you can see, this gives us many different shades, from a deep reddish brown to light pastel pink.
+[130.16s -> 142.67s]  So how do we put this all together to create professional-looking color schemes? There are actually tried-and-true formulas based on something called color harmony that can help. All you need is the color wheel.
+[143.92s -> 156.88s]  The easiest formula for harmony is monochromatic because it only uses one color or hue. Just pick a spot on the color wheel and use your knowledge of saturation and value to create variations.
+[157.01s -> 169.90s]  The best thing about monochromatic color schemes is that they're guaranteed to match. An analogous color scheme uses colors that are next to each other on the wheel, like reds and oranges,
+[170.29s -> 184.18s]  or cooler colors like blues and greens. Don't be afraid to play with the palette and create your own unique interpretation. That's what these formulas really are, merely starting points to help guide and inspire you.
+[185.97s -> 194.48s]  Complementary colors are opposite each other on the wheel. For instance, blue and orange, or the classic red and green.
+[195.02s -> 203.60s]  To avoid complementary color schemes that are too simplistic, add some variety by introducing lighter, darker, or desaturated tones.
+[205.14s -> 217.14s]  A split complementary color scheme uses the colors on either side of the complement. This gives you the same level of contrast, but more colors to work with, and potentially more interesting results.
+[218.83s -> 225.49s]  A triadic color scheme uses three colors that are evenly spaced, forming a perfect triangle on the wheel.
+[225.78s -> 233.94s]  These combinations tend to be pretty striking, especially with primary or secondary colors So be mindful when using them in your work
+[235.70s -> 247.76s]  Tetradic color schemes form a rectangle on the wheel, using not one but two complementary color pairs. This formula works best if you let one color dominate while the others serve as an accent.
+[250.51s -> 259.73s]  There are a few classic do's and don'ts when it comes to color. For instance, have you ever seen colors that seem to vibrate when they're placed next to each other?
+[260.24s -> 275.02s]  The solution is to tone it down, literally, and there's a simple way to do it. Start with one color, and try adjusting its lightness, darkness, or saturation. Sometimes, a little contrast is all your color palette needs.
+[276.50s -> 289.30s]  Readability is an important factor in any design. Your color should be legible, engaging, and easy on the eyes. Sometimes that means not using color, at least not in every little detail.
+[289.46s -> 297.10s]  Neutral colors like black, white, and gray can help you balance your design. So when you do use color, it really stands out.
+[299.18s -> 310.70s]  Every color sends a message. It's important to consider the tone of your project and choose a color palette that fits. For example, bright colors tend to have a fun or modern vibe.
+[311.15s -> 321.46s]  Desaturated colors often appear more businesslike. Sometimes it just depends on the context. You'd be surprised how flexible color can be.
+[322.83s -> 337.49s]  You can find ideas for color schemes in all kinds of interesting places, from advertising and branding to famous works of art. You can even use a web resource to browse color palettes or generate your own.
+[338.06s -> 347.06s]  Even experienced designers take inspiration from the world around them. There's nothing wrong with finding something you like and making it your own.
+[348.50s -> 356.94s]  Everywhere you look there's color, color, and more color. It can be intimidating to use it in your work, but it doesn't have to be.
+[358.22s -> 367.02s]  Just keep experimenting, and remember what you've learned about color theory. Soon, choosing great-looking colors will feel like second nature.
+[370.00s -> 379.82s]  We hope you enjoyed learning the basics of color. Check out the rest of our design topics including typography, images, and composition.

VideoMMMU_ASR_large/Art/validation_Art_Theory_15.mp4.txt

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+[0.00s -> 10.75s]  Surrealism. The surrealism was an artistic and literary movement that emerged in the early 20th century aiming to explore the unconscious mind and unleash creativity beyond rationality.
+[10.75s -> 25.12s]  Led by figures like Andre Breton and Salvador Dali, Surrealists sought to depict dreamlike imagery, juxtaposing unrelated elements in surprising ways to provoke thought and evoke strong emotions. Surrealist artworks often feature fantastical landscapes,
+[25.12s -> 32.08s]  bizarre creatures and symbolic motifs, inviting viewers to interpret their meanings freely. Romanticism
+[32.08s -> 43.01s]  The Romanticism art emerged in the late 18th and early 19th centuries as a reaction against the rationalism of the Enlightenment and the strictures of Neoclassicism. It emphasized emotion,
+[43.01s -> 52.77s]  imagination and individualism, celebrating nature, the sublime and the exotic. Romantic artists often depicted dramatic landscapes, turbulent skies,
+[52.77s -> 64.30s]  and awe-inspiring natural phenomena to evoke a sense of the sublime and the ineffable. They also explored themes of nationalism, folklore, and mythology celebrating the spirit of freedom and revolution.
+[64.59s -> 74.40s]  Realism Realism is an artistic movement that emerged in the 19th century primarily in Europe as a reaction against the idealized and romanticized portrayals of life.
+[74.40s -> 88.91s]  It aimed to depict everyday subjects and situations truthfully, without embellishment or idealization. Realist artists often focused on the lives of ordinary people, depicting their struggles, joys, and environments with meticulous detail and accuracy.
+[89.26s -> 101.46s]  Minimalism. The minimalism is an art movement that emerged in the 1960s, characterized by extreme simplicity and a focus on fundamental elements like geometric shapes, basic colors, and clean lines.
+[101.46s -> 107.47s]  artists sought to strip away excess and decoration, creating works that emphasize pure form and presence.
+[107.47s -> 117.54s]  Minimalist art often invites viewers to engage directly with the physical qualities of the artwork and the surrounding space, encouraging contemplation and reflection.
+[117.54s -> 130.19s]  The Renaissance art was characterized by a revival of interest in classical Greek and Roman art, leading to a focus on realism, perspective, and humanism. Renaissance artists such as Leonardo da Vinci, Michelangelo, and Raphael
+[130.19s -> 144.19s]  created works that emphasized accurate depiction of the human form, lifelike expressions, and spatial depth. Their masterpieces, including paintings, sculptures, and architecture, reflected a renewed appreciation for the individual, nature,
+[144.19s -> 158.06s]  and the pursuit of knowledge. Baroque The Baroque art characterized by dramatic use of light and shadow, intense emotion, and rich, detailed compositions. Baroque artists aim to evoke powerful emotional responses in viewers.
+[158.06s -> 169.23s]  often employing dynamic compositions and theatrical effects. Religious themes were prevalent, with artists seeking to convey spiritual messages with heightened drama and intensity.
+[169.23s -> 179.39s]  The Expressionism was an art movement that emerged in the early 20th century, primarily in Germany. It aimed to convey emotional and psychological experiences rather than physical reality.
+[179.39s -> 192.11s]  Often through distorted or exaggerated forms and vivid colors, expressionist artists such as Edvard Munch and Ernst Ludwig Kirchner sought to evoke intense feelings and explore themes of angst, alienation, and inner turmoil.
+[192.11s -> 201.94s]  Abstract Expressionism The Abstract Expressionism was a post-World War II art movement that originated in New York City in the 1940s and 1950s.
+[201.94s -> 213.33s]  It emphasized spontaneous intuitive and emotional expression through abstract forms and gestural brushwork. Artists such as Jackson Pollock, Willem de Kooning, and Mark Rothko were central figures in this movement.
+[213.33s -> 226.50s]  Abstract expressionists often explored themes of individuality, the subconscious, and the act of painting itself, rejecting traditional representation in favor of conveying raw emotion and inner experience on canvas. Fauvism
+[226.50s -> 240.40s]  Favism was an early 20th century art movement characterized by bold colors, spontaneous brushwork, and simplified forms. Artists like Henri Matisse and Andre Duran were key figures, emphasizing emotional expression over realistic representation.
+[240.56s -> 248.34s]  Cubism. The Cubism was an influential art movement pioneered by Pablo Picasso and Georges Braque in the early 20th century.
+[248.34s -> 256.62s]  It revolutionized traditional artistic representation by breaking down subjects into geometric shapes and depicting multiple viewpoints simultaneously.
+[256.62s -> 266.74s]  Cubist artworks often feature fragmented forms, abstract shapes, and a flattened perspective, challenging viewers to rethink how they perceive space and form. Classicism
+[266.74s -> 276.70s]  The classicism refers to a movement in art and literature that draws inspiration from ancient Greek and Roman cultures, particularly their emphasis on harmony, balance, and order.
+[276.70s -> 290.85s]  It emerged during the Renaissance and experienced revivals in various periods, including the 17th and 18th centuries. Classicism prioritizes clarity, simplicity, and idealized forms rejecting the extravagant ornamentation of preceding styles.
+[290.85s -> 301.46s]  Artists like Jacques-Louis David and Nicolas Poussin are renowned for their classical works which often depict heroic or mythological themes with a sense of timeless grandeur and dignity.
+[301.97s -> 308.82s]  Symbolism The symbolism was an artistic and literary movement that emerged in the late 19th century, primarily in France.
+[308.82s -> 317.81s]  It emphasized the use of symbols and metaphors to evoke emotions, dreams, and spiritual experiences. Symbolist artists such as Gustav Klimt and Odilon Radon
+[317.81s -> 332.30s]  sought to convey abstract ideas and inner visions rather than represent objective reality. Symbolism often featured dreamlike imagery, mythological motifs, and richly symbolic content exploring themes of mysticism, spirituality, and the subconscious mind.
+[332.30s -> 343.71s]  Op art. The op art, short for optical art, is a style of visual art that uses optical illusions and geometric patterns to create the impression of a movement, depth, or distortion.
+[343.71s -> 354.46s]  It often employs contrasting colors and precise, repetitive shapes to stimulate the eye and mind, creating a dynamic and sometimes disorienting visual experience. Futurism
+[354.46s -> 368.69s]  The Futurism was an avant-garde movement that emerged in Italy in the early 20th century. It celebrated modern technology, speed, and the dynamism of urban life, advocating for the rejection of traditional artistic forms in favor of embracing the future.
+[368.69s -> 382.05s]  Artists like Umberto Boccioni and Giacomo Balla depicted motion and energy through fragmented forms, dynamic compositions, and vibrant colors. Dada Dada was an avant-garde movement that emerged during World War I.
+[382.05s -> 394.53s]  originating in Zurich, Switzerland. It rejected traditional artistic conventions and embraced absurdity, chaos, and anti-establishment sentiments. Dadaists like Marcel Duchamp and Tristan Tzara used collage.
+[394.53s -> 407.86s]  found objects and performance art to challenge the rationality of society and the art world. Dada's legacy lies in its subversion of artistic norms and its influence on later movements such as surrealism and conceptual art.
+[408.14s -> 418.53s]  Art Nouveau, a late 19th and early 20th century art movement embraced organic forms, flowing lines, and intricate patterns. It emerged as a reaction against the academic art of the time.
+[418.53s -> 430.46s]  seeking to integrate art into everyday life through architecture, interior design, and decorative arts. Inspired by nature and exotic cultures, Art Nouveau artists like Alphonse Mucha and Hector Guimard
+[430.46s -> 436.69s]  aimed to create a total aesthetic experience characterized by its sinuous curves and ornamental motifs.
+[437.20s -> 448.29s]  Impressionism The Impressionism was an art movement in the late 19th century characterized by capturing the fleeting effects of light and atmosphere through loose brushwork and vivid colors.
+[448.29s -> 461.60s]  It focused on depicting everyday scenes, often outdoors, with an emphasis on conveying the artist's impression rather than precise details. Key artists include Claude Monet, Edgar Degas, and Pierre-Auguste Renoir. Post-Impressionism
+[461.60s -> 472.90s]  The Post-Impressionism was an art movement that emerged in the late 19th century as a reaction to Impressionism. Artists associated with Post-Impressionism, such as Paul Cézanne, Vincent Van Gogh, and Georges Seurat,
+[472.90s -> 483.57s]  built upon Impressionist techniques while pushing the boundaries of color, form, and expression. They focused on subjective interpretations of reality using bold colors, distinctive brushwork,
+[483.57s -> 495.47s]  and innovative compositions to convey emotions and ideas. Rococo The Rococo was an artistic movement that flourished in Europe during the 18th century, particularly in France.
+[495.47s -> 509.68s]  It is characterized by its ornate and playful style, featuring delicate pastel colors, asymmetrical compositions, and lavish decorations. Rococo art often depicted scenes of leisure, love, and frivolity reflecting the aristocratic culture of the time.
+[510.06s -> 520.48s]  Neoclassicism The Neoclassicism was an artistic and architectural movement that emerged in the 18th century as a reaction against the excesses of the Rococo style.
+[520.48s -> 529.34s]  Inspired by the ideals of ancient Greek and Roman art, neoclassical artists sought to revive the classical aesthetic of harmony, proportion, and clarity.
+[529.34s -> 542.35s]  Rejecting the ornate decoration of the rococo, neoclassical works emphasized clean lines, symmetry, and a return to classical subject matter, such as historical events and mythological themes. Mannerism
+[542.35s -> 554.75s]  The Mannerism was an art movement that emerged in the late Renaissance period, primarily in Italy during the 16th century. It is characterized by a departure from the balance, harmony, and naturalism of high Renaissance art.
+[554.75s -> 567.50s]  Mannerist artists deliberately distorted proportions, exaggerated poses, and employed intricate compositions to create a sense of elegance, sophistication, and intellectual complexity in their works.
+[567.50s -> 581.02s]  The modern art encompasses a wide range of artistic styles and movements that emerged in the late 19th and early 20th centuries, breaking away from traditional forms and techniques. It includes movements like cubism, surrealism,
+[581.02s -> 591.82s]  abstract expressionism, and pop art among others. Modern art often explores new concepts, materials, and techniques and can be highly experimental and diverse in its expressions.
+[592.53s -> 604.45s]  Precisionism. Precisionism was an American art movement in the early 20th century known for its precise, detailed portrayal of urban and industrial landscapes. Artists depicted scenes with sharp lines, geometric shapes, and smooth surfaces.
+[604.45s -> 613.94s]  Capturing the modernization and industrialization of America, this style often emphasized the beauty and order found in architecture, machinery, and infrastructure.

VideoMMMU_ASR_large/Art/validation_Design_12.mp4.txt

@@ -0,0 +1,20 @@
+[1.20s -> 14.08s]  hello everyone today we will learn the type of sleeves or the construction of sleeves well a sleeves can be classified on the basis of its length on the basis of fitting
+[14.08s -> 23.44s]  and on the basis of sleeve lines or construction besides that when it comes to styling a sleeve can be of numerous types
+[23.44s -> 32.03s]  but here we will focus on the types or the classification of sleeves on the basis of length fitting and its construction pattern
+[32.03s -> 41.70s]  Well, on the basis of length, sleeve can be of seven types. The first is sleeveless, where there is no sleeves or which is also known as tank.
+[41.70s -> 50.59s]  Then comes the cap sleeves which ends at the height of your cap. A sleeve that covers the cap height of your hand.
+[50.59s -> 64.90s]  then comes short sleeves which is also known as t-shirt sleeves that ends in between your shoulder point and the elbow then comes the above elbow sleeves or sleeves that ends right above your
+[64.90s -> 75.73s]  elbow and then comes the mid length sleeves or below elbow sleeves as the name suggests it ends below your elbow then comes the three quarter sleeves
+[75.73s -> 90.00s]  or three-fourth sleeve or quarter sleeves that ends somewhere at the mid of your elbow to wrist point that usually covers the three-fourth section of your hand and lastly comes the long sleeves which ends
+[90.00s -> 91.46s]  at your wrist
+[91.46s -> 105.79s]  besides that when it comes to fashion styling and creativity a sleeve can be long enough to touch the floor or it can be sleeveless right now come to the next section which is sleeves
+[105.79s -> 118.80s]  classification of sleeves according to the fitting when it comes to fitting it can be too fitted or too loose as we all know so here is a skin fitted sleeves which lies next to your skin
+[118.80s -> 130.88s]  Then comes fitted sleeves which is slightly loose as compared to the skin fitted sleeves. Then comes loose sleeves or basic sleeves which is a straight sleeves.
+[130.88s -> 140.77s]  then comes bell sleeves that has a slightly bell kind of shape and lastly comes the flare sleeves now the third classification is based
+[140.77s -> 149.74s]  on the construction of this which is also known as sleeve lines or the way we join sleeve to the top or the upper garment
+[149.74s -> 164.56s]  So it can also be divided into two parts which is separate construction and continuous construction. There are four types in separate construction. These are satin sleeves, raglan sleeves,
+[165.14s -> 167.38s]  Saddle sleeves or
+[168.21s -> 182.80s]  Drop sleeves and the second part is continuous construction where there is no cutting between the top and the sleeves. It is a single fabric or the single pattern that covers the upper body as well as the sleeve part.
+[182.80s -> 186.74s]  is round yoke and dormancy. There are only two types.
+[186.74s -> 201.04s]  so this is your classification of sleeves on the basis of length fitting and construction or sleeve lengths or on the basis of construction the way it is being joined to the top or the upper gown that's it i hope you understand
+[201.04s -> 203.76s]  Thank you.

VideoMMMU_ASR_large/Art/validation_Music_3.mp4.txt

@@ -0,0 +1,35 @@
+[0.00s -> 5.98s]  Intervals, part one. Half of everything you need to know so you don't fail music class in seven minutes.
+[5.98s -> 20.43s]  Intervals are a measurement of the distance between two notes. They're an important part of the vocabulary of music and are useful in discussing the qualities, structure, and functions of scales, chords, and melodies. They are also useful for increasing your prowess at sight reading, sight singing, composition, and
+[20.43s -> 34.64s]  and improvisation. As with most things in music theory, familiarity with major scales and key signatures is fundamental to understanding intervals. If you're not confident on those concepts, you're going to have a bad time. Check the links in the description if you need to brush up on those concepts. Intervals are defined by a
+[34.64s -> 47.68s]  They have names like major third, minor third, diminished third, or augmented third, or perfect fifth, diminished fifth, or augmented fifth. The quality of an interval is determined by comparing the top note to the major scale of the bottom note.
+[47.68s -> 62.03s]  The number is much simpler, so we'll start there. The number in an interval is a measure of the relative position of two notes on the staff. It's defined by how many letter names are between the two notes, including the notes themselves. For instance, this is a fifth, because from A to E, there are five
+[62.03s -> 76.26s]  letter names you might imagine there are notes on every line in space and count each one one two three four five a to e is a fifth it's important to note that the number of the interval is independent of any accidentals that might be on the notes so
+[76.26s -> 89.26s]  This is still a fifth, as is this and this and even this. They're all five letter names away on the staff, so they're all fifths. Let's look at a few more. This is a second, a third, and a fourth. Here's a sixth and a seventh.
+[89.84s -> 103.82s]  And here's a 9th and an 11th. Intervals of 1 or 8 have special names because they involve two notes of the same name, like C to C or C to C. They're still notated with a number, but are commonly referred to as unison and octave.
+[103.82s -> 117.28s]  A 15th is two octaves, like C to C, but for some reason it doesn't have a special name. Personally, I like to call it Duboctia, the Destroyer. To review, this is a unison, second, third, fourth, fifth, sixth...
+[117.28s -> 126.27s]  7th, and 8th, as well as 9th, 10th, 11th, 12th, 13th, 14th, and Dabhaktia, the Destroyer.
+[126.27s -> 138.85s]  As we said before, intervals also have a quality, such as major, minor, perfect, augmented, or diminished. There are a number of different symbols and abbreviations that are used for these qualities, but I'll be using these because I think they're the least ambiguous.
+[138.85s -> 151.60s]  In any major scale, the interval from the first note of that scale to the first, fourth, fifth, or eighth notes of the scale are referred to as perfect. Perfect unison, perfect fourth, perfect fifth, and perfect octave.
+[151.60s -> 162.32s]  The distance from the first note of the scale to the second, third, sixth, and seventh note are all referred to as major. Major second, major third, major sixth, and major seventh.
+[162.32s -> 172.86s]  Of course, these interval qualities are the same for any major scale. For instance, in D major, from the first note of the scale, the interval of unison, fourth, fifth, or octave are all called perfect.
+[172.86s -> 181.54s]  and a second, third, sixth, and seventh are all called major. You may be wondering, why are some intervals called perfect and some intervals are called major?
+[181.54s -> 194.06s]  Look, I know it seemed arbitrary. There's a reason. I promise. It just won't make any sense until we cover a little bit more. For now, just go with it. So far, we've only been looking at intervals from the first note of a major scale to any other note in that scale.
+[194.06s -> 207.62s]  But what happens if the upper note doesn't appear in the major scale of the bottom note? That's when you get into those other qualities, minor, diminished, and augmented. The quality of an interval is determined by comparing it to the major or perfect interval that normally occurs in a major scale.
+[207.62s -> 219.42s]  For instance, these are all thirds. C to E is a major third because E is natural in C major. All the other thirds have been altered from the major third in some way. C to E flat is one semitone smaller.
+[219.42s -> 233.71s]  it's referred to as a minor third. Any major interval that's been made smaller by a semitone is referred to as minor. Any interval that's been made two semitones smaller, like C to E double flat, is known as diminished. Finally, any major interval that's been made a semitone larger is
+[233.71s -> 236.24s]  augmented, like C to E sharp.
+[236.66s -> 250.21s]  This applies to all the major intervals. These are all sixths. The first one is major because A is natural in the key of C. The next is a minor sixth because the interval is one semitone smaller than the major. Next is diminished because it's two semitones smaller than the major.
+[250.21s -> 264.11s]  and the last one is augmented because it's one semitone larger than the major. These are all seconds and sevenths. As you can see, the major intervals are just as they appear in the major scale. The minor intervals are one semitone smaller. The diminished intervals are two semitones smaller.
+[264.11s -> 272.27s]  and the augmented intervals are one semitone larger. Let's try another key. D to F sharp is a major third, because F is sharp in D major.
+[272.27s -> 285.17s]  D to F natural is one semitone smaller than the major third, so it's a minor third. D to F flat is two semitones smaller than the major third, so it's diminished. D to F double sharp is one semitone larger than the major third, so it's an augmented third.
+[285.17s -> 292.69s]  And here are the different possible seconds, sixths, and sevenths in D major. Pause the video if you'd like to inspect and compare the intervals.
+[293.87s -> 307.22s]  So far, we've only been talking about alterations for major intervals. The perfect intervals are similar with one important difference. While the major intervals have four forms, major, minor, augmented, and diminished, the perfect intervals only have three.
+[307.22s -> 320.34s]  Augmented is the same, one semitone larger. But one semitone smaller is called diminished. There is no minor version of the perfect intervals. I know you're still wondering why some intervals are perfect and others are major. I haven't forgotten. We're getting there.
+[320.34s -> 332.26s]  So, this first interval is a perfect fifth, because G is natural in C major. But, if it's made a semitone larger, it's an augmented fifth. And, if it's a semitone smaller, it's a diminished fifth. Same thing for fourth.
+[332.26s -> 346.13s]  This is a perfect fourth. One semitone larger is augmented and one semitone smaller is diminished. Also, the perfect octave can be made augmented or diminished by making it a semitone larger or smaller. A perfect unison can be augmented
+[346.13s -> 360.43s]  But a diminished unison isn't really a thing. Remember, an interval is always evaluated by the key of the lower note. If you had a perfect unison and made the upper note lower, then you've actually made it lower than the first note, and now nothing makes sense. It's kind of like dividing a number by zero.
+[360.43s -> 370.16s]  It makes things complicated. So, to review, a major interval is any second, third, sixth, or seventh where the upper note appears in the major scale of the lower note.
+[370.16s -> 377.73s]  A major interval that's been made a semitone smaller is known as minor, two semitones smaller is diminished, and a semitone larger is augmented.
+[377.73s -> 390.38s]  A perfect interval is any unison, fourth, fifth, or octave where the upper note appears in the major scale of the lower note. A perfect interval that's been made a semitone smaller is known as diminished. If it's been made a semitone larger, it's augmented.
+[390.38s -> 402.91s]  And that's half of what you need to know about intervals. In part two, we'll cover intervals larger than an octave, what to do if the bottom note isn't in a major scale, and inversions, which will finally explain why some intervals are perfect and some are major.
+[402.91s -> 407.73s]  Be sure to like, comment, share, and subscribe for more videos. Thanks for watching!

VideoMMMU_ASR_large/Art/validation_Music_4.mp4.txt

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+[1.33s -> 13.01s]  Color. It plays a vital role in design and everyday life. It can draw your eye to an image, evoke a certain mood or emotion,
+[14.03s -> 27.70s]  even communicate something important without using words at all. So how do we know which colors look good together and which ones don't? The answer is simple. Color theory.
+[28.98s -> 43.70s]  Artists and designers have followed color theory for centuries, but anyone can learn more about it. It can help you feel confident in many different situations, whether it's choosing colors for a design or putting together the perfect outfit.
+[45.26s -> 56.02s]  All it takes is a little insight, and you'll be looking at color in a whole new way. Let's start at the beginning, the very beginning, with a refresher on the basics.
+[56.85s -> 71.06s]  Remember learning about primary and secondary colors in school? Then you already have some knowledge of color theory. Red and yellow make orange, yellow and blue make green, and blue and red make purple.
+[71.86s -> 84.88s]  If we mix these colors together, we get even more in-between shades, like red-orange and yellow-green. All together, they form what's called a color wheel. You can probably see where it gets its name.
+[85.65s -> 99.89s]  Now, let's take it one step further with hue, saturation, and value. These are terms you might never see in daily life, but they're the key to understanding more nuanced colors, like all those little paint chips at the home improvement store.
+[101.71s -> 114.80s]  Hue is the easiest one. It's basically just another word for color. Saturation refers to intensity. In other words, whether the color appears more subtle or more vibrant.
+[115.86s -> 128.88s]  Value has to do with how dark or light the color is, ranging from black to white. As you can see, this gives us many different shades, from a deep reddish brown to light pastel pink.
+[130.16s -> 142.67s]  So how do we put this all together to create professional-looking color schemes? There are actually tried-and-true formulas based on something called color harmony that can help. All you need is the color wheel.
+[143.92s -> 156.88s]  The easiest formula for harmony is monochromatic because it only uses one color or hue. Just pick a spot on the color wheel and use your knowledge of saturation and value to create variations.
+[157.01s -> 169.90s]  The best thing about monochromatic color schemes is that they're guaranteed to match. An analogous color scheme uses colors that are next to each other on the wheel, like reds and oranges,
+[170.29s -> 184.18s]  or cooler colors like blues and greens. Don't be afraid to play with the palette and create your own unique interpretation. That's what these formulas really are, merely starting points to help guide and inspire you.
+[185.97s -> 194.48s]  Complementary colors are opposite each other on the wheel. For instance, blue and orange, or the classic red and green.
+[195.02s -> 203.60s]  To avoid complementary color schemes that are too simplistic, add some variety by introducing lighter, darker, or desaturated tones.
+[205.14s -> 217.14s]  A split complementary color scheme uses the colors on either side of the complement. This gives you the same level of contrast, but more colors to work with, and potentially more interesting results.
+[218.83s -> 225.49s]  A triadic color scheme uses three colors that are evenly spaced, forming a perfect triangle on the wheel.
+[225.78s -> 233.94s]  These combinations tend to be pretty striking, especially with primary or secondary colors So be mindful when using them in your work
+[235.70s -> 247.76s]  Tetradic color schemes form a rectangle on the wheel, using not one but two complementary color pairs. This formula works best if you let one color dominate while the others serve as an accent.
+[250.51s -> 259.73s]  There are a few classic do's and don'ts when it comes to color. For instance, have you ever seen colors that seem to vibrate when they're placed next to each other?
+[260.24s -> 275.02s]  The solution is to tone it down, literally, and there's a simple way to do it. Start with one color, and try adjusting its lightness, darkness, or saturation. Sometimes, a little contrast is all your color palette needs.
+[276.50s -> 289.30s]  Readability is an important factor in any design. Your color should be legible, engaging, and easy on the eyes. Sometimes that means not using color, at least not in every little detail.
+[289.46s -> 297.10s]  Neutral colors like black, white, and gray can help you balance your design. So when you do use color, it really stands out.
+[299.18s -> 310.70s]  Every color sends a message. It's important to consider the tone of your project and choose a color palette that fits. For example, bright colors tend to have a fun or modern vibe.
+[311.15s -> 321.46s]  Desaturated colors often appear more businesslike. Sometimes it just depends on the context. You'd be surprised how flexible color can be.
+[322.83s -> 337.49s]  You can find ideas for color schemes in all kinds of interesting places, from advertising and branding to famous works of art. You can even use a web resource to browse color palettes or generate your own.
+[338.06s -> 347.06s]  Even experienced designers take inspiration from the world around them. There's nothing wrong with finding something you like and making it your own.
+[348.50s -> 356.94s]  Everywhere you look there's color, color, and more color. It can be intimidating to use it in your work, but it doesn't have to be.
+[358.22s -> 367.02s]  Just keep experimenting, and remember what you've learned about color theory. Soon, choosing great-looking colors will feel like second nature.
+[370.00s -> 379.82s]  We hope you enjoyed learning the basics of color. Check out the rest of our design topics including typography, images, and composition.

VideoMMMU_ASR_large/Art/validation_Music_5.mp4.txt

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+[1.01s -> 6.06s]  In this video you will learn the names of the scale degrees.
+[24.59s -> 38.00s]  A scale degree is the position of a particular note on a scale relative to the first note of the scale. In other words, each note in a major and minor scale has a name that matches its function.
+[39.41s -> 53.26s]  Each note of a major and minor scale also has a name. Tonic, supertonic, mediant, subdominant, dominant, submediant, leaning tone, and then tonic again.
+[54.29s -> 58.26s]  The tonic is the name of the first note of a scale.
+[59.66s -> 70.40s]  This is the tonal center or pitch center of a piece or a song. Where do these names come from? The word dominant is inherited from medieval music theory.
+[70.40s -> 84.88s]  and refers to the importance of the fifth above the tonic in music. The word mediant means middle and refers to the fact that the mediant is in the middle of the tonic and dominant pitches.
+[87.50s -> 96.40s]  The Latin prefix super means above, so the supertonic is the second above the tonic. This is the only super interval.
+[97.87s -> 111.73s]  The Latin prefix sub means below. The subtonic, submediant, and subdominant are the inverted versions, meaning below the tonic, of the supertonic, median, and dominant.
+[112.50s -> 127.25s]  When the subtonic is only a half step below the tonic, it is called a leading tone. Let us show this a different way. Here is the tonic. The dominant is a fifth above the tonic.
+[127.57s -> 141.62s]  The subdominant is a fifth below the tonic. Between the tonic and the dominant is the mediant. Between the subdominant and the tonic is the submediant.
+[142.32s -> 151.25s]  A step up from the tonic is the supertonic. The step below is the subtonic or leading tone.
+[151.89s -> 165.70s]  So when you put these names in a scale, they are in this order. Tonic, supertonic, mediant, subdominant, dominant, submediant, subtonic, or leading tone.
+[165.70s -> 172.46s]  And here is what you have learned today. Keep practicing, and I will see you in the next video.
+[172.88s -> 184.58s]  If you liked the video, please hit like. If you would like to see more videos, please subscribe to my channel. You can also leave a comment or a question in the comment section below.

VideoMMMU_ASR_large/Art/validation_Music_7.mp4.txt

@@ -0,0 +1,35 @@
+[0.40s -> 14.08s]  Functional harmony is a set of rules you can use to create logical chord progressions that sound quote-unquote right. It may sound complicated at first, but it's actually pretty easy. So let's go ahead and jump in. First, let's take a look at this diagram.
+[14.08s -> 23.01s]  Here we see all the chords within the key of C and then we have numbers underneath them sort of to represent them with Roman numerals. If it's an uppercase
+[23.01s -> 31.50s]  Roman numeral, then it's a major chord. If it's lowercase, it's minor. And if it's lowercase with the little diminished symbol, then it's, you know, a diminished chord.
+[31.50s -> 43.74s]  And by the way, I'll have a larger graphic at the end of this video. I'll put a timestamp up there for you, and it will show multiple keys so that you can use it as like a reference point along with this diagram using Roman numerals.
+[43.74s -> 56.03s]  So we have all the chords in the key of C, and we've numbered them and such, but the real question is, what order do we play them in, in such a way that, you know, it sounds like it should? To start off, we need to name a few different types of chords.
+[56.03s -> 70.35s]  The one chord and the three chord are called tonic chords. They're like the home base. They're kind of what everything revolves around. Ultimately, you're going to end with your one chord, right? That's the big chord you hear at the end of your composition or your chord progression.
+[70.35s -> 79.62s]  or whatever. So keep that in mind. Those are kind of the home base that we're trying to get to. Then we have the dominant chords. So that's going to be the 5 and the 7 chord.
+[79.62s -> 93.07s]  And then the last group of chords we have are the subdominant chords, which is everything else. It's going to be the 2, the 4, and the 6. Here's how things flow. Tonic is our home, or our root, like we said before.
+[93.07s -> 104.11s]  So we start from the tonic, and then from tonic chords we can go anywhere we want. We can go to a subdominant or a dominant, whatever. Once we get to a dominant, the dominant chord always wants to go back to the one.
+[104.11s -> 116.46s]  If we go to a subdominant, subdominant chords want to go to dominant. So your progression would either be a tonic chord to a dominant chord and then a tonic, or it could be like a tonic to a subdominant, then dominant.
+[116.46s -> 125.39s]  and then tonic, so that's sort of the way it works. Now let's go back to our first diagram. I'm going to put a T for tonic chords underneath the 1 and the 3.
+[125.39s -> 139.60s]  and then I'm going to put just a quick abbreviation for subdominance under the subdominance, and an abbreviation for dominance under the dominant, so that you can kind of, just looking at this graph, see how things are functioning.
+[139.60s -> 147.57s]  So let's actually go ahead and make up a chord progression. We'll start with our I chord, that's kind of a given, and let's go to a subdominant chord. So we'll go to the IV chord.
+[147.57s -> 157.76s]  And then from there, we're going to go to a dominant chord, which will be our V chord. Usually you want to go to the V chord for your dominant chord. It sounds a lot better than the VII in a major key, especially.
+[157.76s -> 167.73s]  But then we'll go from our 5 chord back to our 1. So we're just going 1, 4, 5, and then 1. So tonic, subdominant, dominant, tonic. Alright, listen to how this sounds.
+[176.50s -> 188.98s]  Alright, now let's do a different progression. We'll start with the tonic chord, and then we'll go to the IV chord again, a subdominant. But now we can go to any other subdominant we want to before we go to the dominant. So we're going to go to our IV, and now let's go to the II.
+[188.98s -> 196.88s]  And then from the 2, a subdominant, we'll go to the 5, our dominant, and then back to 1. So now we have a slightly longer chord progression. Check out how this sounds.
+[206.42s -> 218.19s]  Now here's another example where we play two tonic chords, and we go through three subdominant chords, then our dominant chord and our 1, right? So we're going to go 1, 3, 6, 4, 2.
+[218.19s -> 223.76s]  five one right so you see the kind of the flow here um check this out it sounds really cool
+[239.34s -> 251.41s]  Now, you may have noticed how a lot of times we're ending our chord progressions with a 5-1. And that's actually very normal in Western music. It has a name. It's called a cadence. There are a few exceptions to this rule, though.
+[251.41s -> 261.49s]  And there's some other, like, cadences that we have. They're very specific, though, and they're not used all the time. The first one that you see a lot is the 5 going to the 6.
+[261.49s -> 271.71s]  So instead of going to the 1 at the end, the 5 goes to the 6, which is weird because that's a dominant going to a subdominant, but it's one of those exceptions that you can use at the end of your chord progression.
+[271.71s -> 283.70s]  This makes a really cool sound. Just for the sake of comparison, let's do a 1-4-5-1, and then let's do a 1-4-5-6, so that you can kind of hear the juxtaposition of the two.
+[302.70s -> 313.12s]  So that's called a deceptive cadence when you go from the 5 to the 6. We call it deceptive because your ear kind of expects the 5 to go to 1 because that's what you hear all the time.
+[313.12s -> 324.35s]  but because it goes to the 6th, it's deceptive, quote-unquote. So, that's one cadence. There's another cadence that we should also take a look at called the plagal cadence. Sometimes it's called the amen cadence because you hear it often in hymns.
+[324.35s -> 336.62s]  So in this cadence, you're going to go from the 4 to the 1. So that's super crazy. Now we're going from a subdominant to a tonic, right? So that's kind of breaking the rules again, but it actually has a very pretty sound.
+[336.62s -> 350.38s]  So let's do an example real quick. We'll go 1, 2, 4, 1. So we're going tonic to two subdominants and then back to tonic. A little bit weird, but it actually has a very pretty sound to it. Check it out.
+[358.42s -> 372.19s]  Alright, that's pretty much all you need to know, but let's go ahead and take a look at minor keys. Everything here is actually the same. As you can see from this first diagram, everything looks a little bit different, the chords, but everything still functions the same.
+[372.19s -> 384.29s]  The 1 and the 3 are still tonic chords. The 2, the 4, and the 6 are still subdominant. And the 5 and the 7 are dominant. So all the same rules apply here.
+[384.29s -> 394.83s]  Let's make a quick progression here. We'll go from the 1 to the 3, both tonic chords, and then let's do a subdominant. So we'll do the 4, and then we'll go to the 5 here, and then back to the 1. So give this a quick listen.
+[408.40s -> 422.18s]  All right, that's pretty much it. Here's that larger graphic I was telling you about earlier. Hopefully you find this helpful. I have not all the keys, but a good number of the keys that you would normally be seeing along with the Roman numerals.
+[422.18s -> 433.12s]  So check this out, start kind of experimenting with playing these progressions in different orders following these rules, and let me know if you have any questions. And also as an added note here at the end...
+[433.12s -> 446.56s]  don't be afraid to kind of do whatever you want you don't have to follow these rules you don't have to go in this order um this is it's good to kind of know these rules as a guideline but it's not the end of the world if you like if you play some
+[446.56s -> 460.06s]  random chord progression and you think it sounds cool, that's fine. You can go with it. There's nothing wrong with that. I, for a long time, thought you had to do only functional harmony progressions, but you really don't. You can kind of do whatever you want.
+[460.06s -> 466.38s]  So that being said, knock yourselves out and best of luck to you guys. I'll talk to you next week.

VideoMMMU_ASR_large/Art/validation_Music_8.mp4.txt

@@ -0,0 +1,15 @@
+[0.85s -> 5.65s]  In this video you will learn how to read this.
+[29.84s -> 40.45s]  A major seventh chord is formed by adding another third above the fifth of the chord. There are five different seventh chords. Major, dominant, minor, half diminished, and full diminished.
+[40.45s -> 53.01s]  A major seventh chord has a major triad and an interval of a major seventh above the root. To make it a dominant seventh chord, lower the seventh a half step. To make it a minor seventh chord, lower the third and the seventh a half step.
+[53.01s -> 65.58s]  To make it a half diminished 7th chord, lower the 3rd, 5th, and 7th a half step. To make it a full diminished 7th chord, lower the 3rd and the 5th a half step, and the 7th a whole step. Let us start with the C major 7th chord.
+[65.58s -> 78.90s]  The notes C, E, and G make a C major triad and the note B is a major 7th above the note C. To make it a C dominant 7th chord, lower the 7th from the note B natural to the note B flat. To make it a C minor 7th,
+[78.90s -> 92.51s]  Lower the third from the note E natural to the note E flat. To make it a C half diminished seventh, lower the fifth from the note G natural to the note G flat. To make it a C full diminished seventh, lower the note B flat to the note B double flat.
+[92.51s -> 106.40s]  Let us make a G full diminished chord. Start with a major triad using note G, B, and D, and a major seventh above the root, which is the note F sharp. Lowering the seventh a half step from the note F sharp to F natural would make this a G dominant seventh chord.
+[106.40s -> 117.36s]  Lowering a third a half step from the note B natural to B flat would make this a G minor seventh chord. Lowering the fifth on the note D natural to the note D flat would make this a G half diminished seventh chord.
+[117.36s -> 126.21s]  Lowering the 7th from the note F natural to the note F flat would make this a G full diminished 7th chord. Let us make an E full diminished 7th chord.
+[126.21s -> 137.60s]  Make an E major triad with the notes E, G sharp, and B, and a major 7th above the root with the note D sharp. To make it a dominant 7th chord, lower the 7th with the note D sharp to D natural.
+[137.60s -> 149.95s]  To make it a minor 7th chord, lower the 3rd from the note G sharp to G natural. To make it a half diminished 7th chord, lower the 5th from the note B natural to B flat. To make it a full diminished 7th chord,
+[149.95s -> 163.22s]  Lower the 7th from the note D natural to D flat. Let us do one more. A F full diminished 7th chord. Make an F major triad with the notes F, A, and C, and a major 7th above the root with the note E.
+[163.22s -> 176.88s]  To make it a dominant 7th chord, lower the 7th from the note E natural to E flat. To make it a minor 7th chord, lower the 3rd from the note A natural to A flat. To make it a half diminished 7th chord, lower the 5th from the note C natural
+[176.88s -> 190.90s]  to C flat. To make it a full diminished chord, lower the seventh with the note E flat to E double flat. And here is what you have learned today. Keep practicing, and I will see you in the next video.
+[195.95s -> 207.89s]  If you liked the video, please hit like. If you would like to see more videos, please subscribe to my channel. You can also leave a comment or a question in the comment section below.

VideoMMMU_ASR_large/Art/validation_Music_9.mp4.txt

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+[0.85s -> 5.65s]  In this video you will learn how to read this.
+[32.27s -> 36.85s]  Inverting a chord is not simply rearranging the notes of the chord.
+[37.42s -> 49.66s]  This chord is still in root position because the root of the chord is the lowest note. In an inverted chord, the root is not the lowest note. To make this chord into a first inversion,
+[49.66s -> 63.82s]  move the root up an octave making the third of the chord the lowest note. This chord will still be in first inversion as long as the third of the chord is the lowest note, even when we move or double the notes in the chord.
+[64.91s -> 72.53s]  To make this chord into a second inversion, move the third of the chord up an octave, making the fifth of the chord the lowest note.
+[74.42s -> 88.37s]  Inversions are notated using numbers called fingered bass. The numbers indicate the number of scale steps above the bass note of the chord. In the first inversion of the chord, the intervals above the bass are a sixth and a third.
+[88.37s -> 103.18s]  The first inversion is notated by just using the number 6. In the second inversion, the intervals above the bass note are a 6th and a 4th. The second inversion is notated by using the number 6 and a 4.
+[103.66s -> 112.91s]  An often used notation for chord inversions in jazz, pop, and rock is to write the name of the chord followed by a forward slash and then the name of the bass note.
+[113.58s -> 121.20s]  The chord symbol F slash A would be a first inversion F major chord, with the note A being the lowest note.
+[122.32s -> 134.99s]  For seventh chords, there are three inversions. Let us start with a C dominant seventh chord in root position. To make this chord into a first inversion, move the root up an octave making the third of the chord the lowest note.
+[135.25s -> 145.62s]  The intervals above the bass are a 6th, a 5th, and a 3rd. The first inversion of the 7th chord is notated by just using the numbers 6 and 5.
+[146.32s -> 153.01s]  To make this chord into a second inversion, move the third up an octave, making the fifth of the chord the lowest note.
+[154.06s -> 166.78s]  The intervals above the bass are a 6th, a 4th, and a 3rd. The second inversion of a 7th chord is notated by just using the numbers 4 and 3. To make this chord into a 3rd inversion,
+[166.78s -> 171.12s]  Move the fifth up an octave, making the seventh of the chord the lowest note.
+[172.18s -> 186.48s]  The intervals above the bass are a sixth, a fourth, and a second. The third inversion of a seventh chord is just notated by using the number two. And here is what you have learned today.
+[186.93s -> 190.90s]  Keep practicing, and I will see you in the next video.
+[196.02s -> 207.89s]  If you liked the video, please hit like. If you would like to see more videos, please subscribe to my channel. You can also leave a comment or a question in the comment section below.

VideoMMMU_ASR_large/Business/validation_Accounting_1.mp4.txt

@@ -0,0 +1,80 @@
+[0.00s -> 13.07s]  Hello and welcome to the session in which we will discuss cost behavior. This topic is important whether you are taking managerial accounting, the CPA exam, cost accounting, or the CMA exam.
+[13.07s -> 24.50s]  We have to understand how costs behave because when we make costing decision, it's important to know whether the cost is a variable cost, a fixed cost, or a mixed cost.
+[24.50s -> 37.02s]  Before we start, I would like to remind you whether you are an accounting student or a CPA candidate, I strongly suggest you take a look at my website, farhatlectures.com. No, I don't replace your CPA review course.
+[37.02s -> 44.02s]  I can be a useful addition to your CPA review course. I can be supplemental material to your CPA review course.
+[44.02s -> 54.53s]  My course is designed to mirror image your CPA review course. The risk of trying me is one month of subscription. The potential gain is passing the actual CPA.
+[54.53s -> 61.97s]  And if not for anything, take a look at my website to find out how well or not well your university doing on the CPA.
+[61.97s -> 75.86s]  I also have accounting lectures for intermediate accounting, auditing, managerial accounting, cost taxation. Also, I have the AICPA previously released questions and my courses are there.
+[75.86s -> 82.02s]  to mirror image your CPA review course. So if you're taking an audit course with Roger or a reg course with Glymph.
+[82.02s -> 95.79s]  my course are designed to help you with these courses hand in hand or if you're taking a course with backer if you haven't connected with me on linkedin please do so take a look at my linkedin recommendation like this recording share it with other connect with me on instagram facebook
+[95.79s -> 99.97s]  Twitter, and Reddit. So let's talk about how costs behave.
+[99.97s -> 114.26s]  so how costs behave we have three three types of cost behaviors and i have to let you know up front that in the real world those like for example you may not have a 100 variable cost or 100 fixed mostly they are variable within a
+[114.26s -> 127.41s]  range, fixed within a range, mostly mixed. But for educational purposes, for knowledge purposes, we're going to assume that certain cost is a variable cost. What is a variable cost? From the word variables, it means it varies.
+[127.41s -> 138.16s]  And how does it varies? It varies in total and direct proportion to changes in the level of activity. The best example I can give you to illustrate this concept.
+[138.45s -> 152.61s]  the old cell phones cell phone plans when the cell phone was was becoming a more popular a common household item here's what would happen you would
+[152.61s -> 165.89s]  pay for the phone and you will pay based on the usage so if you did not use the phone if you use the phone zero minutes okay so this is let's assume this is the minutes
+[165.89s -> 179.76s]  and this is the dollar and i'm gonna say i'm gonna say one minute per dollar to make it easy so if you use it one minute you'll pay one dollar okay if you use it two minutes you'll pay two dollars
+[179.76s -> 192.99s]  If you used it three minutes, so this is one, two, three minutes. And this is how it used to be, actually. Believe it or not, maybe some of you don't remember this. Three minutes, you would pay $3. This is the dollar. Now we can draw a graph.
+[192.99s -> 206.14s]  and it would look something like this so as your usage goes up as your usage goes up your total this is your total goes up in proportion to the level of activity
+[206.14s -> 216.67s]  So this is an example of total variable cost changing in proportion to the level of activity. Okay, hopefully this make sense.
+[216.67s -> 227.34s]  In the real world, you might have cost drivers such as unit produced. For example, for each unit produced, you spend, you know, $4. If you produce two units, you will spend...
+[227.34s -> 241.78s]  eight dollars so on and so forth it could be based on machine hours what's driving your cost again the cell phone is the cell phone usage for example if you have a vehicle that's delivering it's miles and miles driven if you're using a vehicle to produce
+[241.78s -> 246.96s]  or it could be labor hours. So those are all cost drivers.
+[247.38s -> 260.18s]  The variable cost per unit, you have to understand now what we are discussing. The variable cost per unit is constant. And if we go back to this example to my cell phone, I said for each one minute.
+[260.78s -> 273.65s]  You pay a dollar. So the cost per unit, the variable cost per unit is variable. Why is it variable? Well because for every unit
+[273.65s -> 285.36s]  The cost is always a dollar. The cost is always the same. Therefore, it would look something like this. Per unit. Per one single unit. Per one single unit.
+[285.36s -> 299.44s]  So per one single unit, you'll have a flat line. But in total, it varies in total. It increases in total. But per unit, it's $1 per unit. So this is the variable cost.
+[299.44s -> 308.18s]  Let's talk about the fixed cost. And if we always when we say the fixed cost, we say the fixed cost within the relevant range. And I'll explain what do I mean by the relevant range.
+[308.18s -> 319.44s]  in a moment. But what is a fixed cost? Well, as the terminology implies, it's fixed, fixed regardless of the activity, again, within a relevant range. A cost cannot be fixed forever.
+[319.44s -> 325.07s]  For example, if you are renting a building, let's assume you are operating a building and you are renting that building.
+[325.42s -> 339.04s]  And let's assume you are paying $10,000 rent per month. And that $10,000 is for 1,000 square feet. Okay, so $10,000.
+[339.04s -> 348.16s]  to rent 1000 square feet. So simply put, as long as you are within 1000 square feet, you only have to pay $10,000.
+[348.16s -> 359.55s]  Okay, as long as you are that. But let's assume you are expanding your operation and now you need more space, more than 1,000 feet. The next thing is you cannot rent, for example, five square feet.
+[359.55s -> 372.75s]  feet you have to rent it goes from 1000 to 2000 so what we say is now the the fixed cost jumped so since you need an additional 1000 now you have to pay we're going to say it's
+[372.75s -> 386.27s]  proportional we have to pay twenty thousand so what's happening here the relevant range of the activity is flat within a relevant range so this is this is flat up to one thousand square feet
+[386.27s -> 395.58s]  Then if you're going to go up to 2000, then it's going to jump and it's going to stay flat to a certain degree. So the fixed cost always fixed within.
+[395.58s -> 409.34s]  range so the cost remain constant regardless of the level of activities again within a relevant range within a relevant range it cannot be fixed forever so in total the cost is fixed
+[409.34s -> 422.74s]  So in total, let's assume in total, so if we look at the graph for the total fixed cost, let's assume we are paying $10,000. So the $10,000 is the same regardless of the
+[422.93s -> 435.09s]  activity assuming we're not jumping activity with as long as we are we are within the relevant range the fixed cost is the same what happened to fixed cost per unit well the fixed cost per unit
+[435.09s -> 440.53s]  is inversely related what does that mean let's assume we are paying ten thousand dollar
+[441.58s -> 453.81s]  as fixed cost fixed cost and we are producing for the sake of simplicity 10 000 unit of xyz if i ask you what is your fixed cost per unit you would say 10 000 divided by
+[453.81s -> 463.70s]  a thousand your fixed cost per unit is a dollar let's assume we were very productive and we produced twenty thousand units for that month
+[464.05s -> 477.97s]  And we're still paying, remember, the fixed cost is 10,000. If we produce 20,000 units, now our fixed cost per unit is only half, 50 pennies. So what happens to our fixed cost per unit? As we produce more...
+[477.97s -> 489.23s]  our fixed cost per unit goes down our fixed cost per unit so per unit it's inversely related however in total in total again we are dealing within the relevant range in total
+[489.23s -> 503.36s]  it stays the same ten thousand so you need to understand how variable costs behave in terms of in total it varies in total it stays constant per unit fixed cost
+[503.36s -> 511.25s]  it stays total in fixed cost and total it's fixed per unit it's inversely related and we'll see an example to illustrate this
+[511.25s -> 518.91s]  these concepts now who wants to guess what a mixed cost would be well a mixed cost will have both the component of a fixed will have a both
+[518.91s -> 532.80s]  a fixed component and a variable component that's why it's called mixed and most costs in the real world they will take the form of a mixed cost there's nothing 100 variable there's not nothing 100 fixed so simply put
+[532.80s -> 546.38s]  If we want to express this algebraically, we can say that the total cost Y, the total cost, the total mixed cost Y equal to the fixed component. So A representing the fixed cost.
+[546.38s -> 559.82s]  or we're going to see this with or the y intercept or you know fixed cost we're going to see it on the graph a is fixed cost plus b is the variable cost b is the variable cost and x is the
+[560.59s -> 569.46s]  activity. So the total cost equal to the fixed cost plus the variable cost. So your cost consists of a fixed component and a variable component.
+[569.46s -> 583.22s]  And this is what it looks like on a graph. For example, here, and this is this is illustration of your utility bill. Notice here, even if you did not consume any kilowatt hours, zero kilowatt hours, you're still paying.
+[583.22s -> 595.50s]  let me change the color here you're still paying a certain amount and we're going to assume you pay 40 for your utility bill even if you don't do anything if you don't consume you were away everything was shut off
+[595.60s -> 609.26s]  As long as you have your utility active at the house, you pay $40, regardless, even if you consume zero kilowatt. Then what happened is this. For each kilowatt you consume, we're going to charge you.
+[609.30s -> 623.55s]  three pennies per kilowatt okay now this is the variable component why because it's varying per the activity here is the consumption of the kilowatts so let's assume you for a particular month
+[623.55s -> 635.79s]  you consumed two thousand kilowatts two thousand kilowatts for a particular month how do you find your total cost well you have to pay forty dollars that's a that's your fixed cost plus
+[635.79s -> 648.54s]  plus B, your variable cost is 0.03, three pennies. And for that particular month, we said you consumed 2000 kilowatt.
+[648.54s -> 661.82s]  Now we can find, so this is A is the fixed cost, and this part here is the variable cost. If we solve this, we find out that your total cost, which is Y, total cost is Y, is...
+[661.82s -> 671.66s]  Now what we can do, we can start to estimate your cost for any level of activity. For example, if we say your activity goes up to $3,000.
+[671.66s -> 685.02s]  we can predict your total cost if your activity goes down to 500 kilowatt we can predict your total cost so this is the cost formula which is your total cost equal to your fixed component
+[685.02s -> 691.92s]  plus your variable component. Your fixed component is the y-intercept. This point here is the y-intercept.
+[692.69s -> 707.14s]  Now let's take a look at an example to see if we can solve this problem. Ronald Company recorded sales volume of 50,000 units. Its total fixed costs are 50,000. If I ask you right now, what is the fixed cost per unit? That's easy.
+[707.14s -> 720.21s]  Fixed cost is $50,000 of fixed cost and we produce 50,000 units. We would say the fixed cost per unit is $1. The variable cost per unit is $70,000. This is the variable cost.
+[720.21s -> 731.06s]  And the relevant range is 40 to 60. So we are within the relevant range. Now, if I ask you, what is the variable cost per unit? Well, you could compute variable cost per unit. You can take 70,000.
+[731.92s -> 744.10s]  divided by 50,000 unit and let's see how much would that be and we can find if I take $70,000 divided by 50,000 unit
+[744.10s -> 748.69s]  We know this is equal to $40. This is $40.
+[748.94s -> 760.96s]  and i can tell you if i ask you right now what is the total cost per unit you would see the total cost per unit is 2.40 okay what would be the total expected cost per unit if ronald were to sell
+[760.96s -> 775.38s]  rather than 50, sell 60,000 unit. My first question to you is this, would cost per unit goes up or would cost per unit goes down? I hope you can answer this question immediately. The cost per unit should go down.
+[775.38s -> 787.84s]  Why? Because you are within the relevant range. And now you are selling or you are producing or selling 60,000 units versus 50. So as you produce more, this $1.
+[787.84s -> 800.05s]  This $1 should go down. This fixed cost per unit should go down. For example, if I know it's $2.40, I can immediately eliminate.
+[800.05s -> 807.54s]  240 i can eliminate 244 and i'm down to two options either it must be c or d now i'm going to have to use my formula
+[807.60s -> 821.86s]  to compute my total cost per unit well my fixed component is fixed it's not going to change so that's going to be fifty thousand dollars that's a in the formula the fixed cost plus b of b of x well the the
+[821.86s -> 833.90s]  Variable cost per unit. Remember the variable cost per unit is constant. So this $1.40 is constant. So 1.4 times 60.
+[833.90s -> 842.82s]  So that's going to give me my total cost. Let's do the computation and see how much do we get as total cost. So if we take $1.40.
+[842.82s -> 856.50s]  which is the variable cost per unit which is we computed earlier times 60 000 unit that's going to give us 84 000 plus the fixed cost of 50 000 that's going to give us total of 134 000
+[856.69s -> 864.16s]  Now 134,000 and we're going to split it or allocate it over 60,000 unit.
+[864.16s -> 875.71s]  And now, again, as I said, we are ready to do the computation. If we take 134 divided by 60,000, and it's $2.23. $2.23.
+[875.71s -> 885.26s]  $22.23. As I told you, it's going to be less than 240, which we predicted this. Therefore, the answer is 223.
+[885.26s -> 895.44s]  Now, if you're looking to practice additional exercises in addition to viewing these lectures, you can go to my website, forhatlectures.com. I don't replace your CPA review course.
+[895.44s -> 907.47s]  I provide alternative resources. I can help you understand the material better. I can provide you with supplemental resources. This is what I can do. Invest in your career. Invest in yourself.
+[907.47s -> 917.94s]  Don't shortchange yourself. The CPA is a lifetime investment. Good luck. Study hard. And of course, stay safe and take a look at my course catalog. Good luck.

VideoMMMU_ASR_large/Business/validation_Accounting_13.mp4.txt

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+[2.03s -> 12.75s]  We're going to be discussing the prime cost and the conversion cost for a manufactured product. So let's think back to the product cost that we've talked about earlier.
+[12.75s -> 24.48s]  for manufactured products so we have direct material direct labor and overhead as the three components of a manufactured product so now we want to take those three
+[24.48s -> 33.30s]  categories and classify those as prime cost or conversion cost. So when you look at the little outline I have here, we have
+[33.30s -> 44.45s]  The direct material and direct labor would be categorized as the prime cost. These are the main components of the product. The direct labor and the overhead
+[44.45s -> 58.94s]  would be the conversion cost we're going to take the labor we're going to use some overhead and we're going to take those materials and convert them into a product so this is how we classify so prime cost equals direct material plus direct labor
+[58.94s -> 62.53s]  Conversion cost equals direct labor
+[62.53s -> 76.85s]  plus overhead so now let's use what we've learned as our formulas here and let's fill in for an example that we're given so lucre company manufactures tennis shoes and last week the total direct materials used in production
+[76.85s -> 81.52s]  were $63,000. Total direct labor for the week
+[81.52s -> 93.74s]  was $44,800 and they've given us the breakout of how it was calculated. So it's $14 per hour times 80 employees times 40 hours in the week.
+[93.78s -> 101.07s]  So the total overhead incurred for Luker Company was $95,000 and they produced 27,000
+[101.07s -> 115.34s]  pairs of tennis shoes. The first thing we want to do is we want to calculate the total prime cost for the week and the per unit prime cost. So here's the formula again for total prime cost.
+[115.34s -> 128.83s]  plus direct labor so let's look at the problem and let's determine the number so direct materials would be sixty three thousand dollars and direct labor forty four thousand eight hundred
+[128.83s -> 138.99s]  So now we just add the two together and so our total prime cost for this week was $107,800. So that's the total.
+[139.73s -> 152.29s]  Now they've also asked for the per unit prime cost. So for the per unit prime cost, this is the formula. Total prime cost divided by the number of units produced.
+[152.29s -> 166.06s]  So in Part A of Part 1, we calculated the total prime cost. So that's $107,800. The number of units produced was given here as 27,000 pairs.
+[166.06s -> 178.51s]  tennis shoes and so we will take 107 800 divide that by the 27 000 pairs and that gives us a per unit prime cost
+[178.51s -> 193.20s]  of $3.99 per pair so the direct material and direct labor per pair of tennis shoes is $3.99 if you calculate it you're going to have to round it slightly 107 800 divided by 27 000.
+[193.90s -> 207.28s]  So we'll round that to $3.99 per pair. So that's the total prime cost and per unit prime cost. Now part two asks, what is the total conversion cost for the week?
+[207.28s -> 220.50s]  and the per unit conversion cost. So the total conversion cost would be direct labor plus the overhead. So direct labor is $44,800. Overhead was given
+[220.50s -> 233.70s]  95,000 so we're just going to add those two together so our total conversion cost for this week was 44,800 plus 95,000 that equals 100
+[233.70s -> 244.75s]  thirty nine thousand eight hundred dollars and then to calculate the per unit conversion cost we're going to take the total conversion cost that we just calculated
+[244.75s -> 255.55s]  And then we will divide that by the number of units produced. And we know that was 27,000 pairs of tennis shoes. So 139,800.
+[255.55s -> 261.97s]  divided by 27 000 pairs so let's check our numbers as we work through
+[264.05s -> 274.67s]  And we will again round. This time we're going to round up. $5.18 per pair is the conversion cost.
+[274.83s -> 279.18s]  total conversion cost, and per unit conversion cost.

VideoMMMU_ASR_large/Business/validation_Accounting_14.mp4.txt

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+[0.75s -> 13.01s]  All right, let's look at some questions about job order cost sheets and brief job order cost sheets, perhaps, I think is what we're going to be talking about right here.
+[13.01s -> 25.74s]  so we've got a couple of multiple choice questions to start us off with that are that are objective no calculations involved which of the following is true about the job order cost sheet
+[25.74s -> 39.63s]  It is going to be prepared for every job. This is true in a job order costing system. So that sounds good. It is a subsidiary of the work in process account. That is also true.
+[40.66s -> 55.25s]  it is the primary document for accumulating all costs related to a particular job that is true and in fact it does contain all information pertinent to that job so make sure that you understand that
+[55.25s -> 69.26s]  A job order cost sheet can do all four of these things. So we're going to go ahead and circle E. The more important thing is to know that the job order cost sheet can actually serve all of these purposes.
+[69.58s -> 83.66s]  all right let's see what we have here it says which of the following is the order in which cost elements flow through accounts until they are recognized as an expense
+[83.66s -> 97.52s]  Okay, so raw materials is where we would actually start at the very beginning and look at choice B, raw materials, to work in process. That's good, but uh-oh, we have a problem.
+[97.52s -> 103.17s]  purchase returns is not part of that process so what that tells us since that's the only
+[103.17s -> 115.47s]  choice that starts with materials is that we're not actually starting at the very beginning here and if we look at choice a it says work in process that's the number two step then to finished goods
+[115.47s -> 127.31s]  and then to cost a good soul so the only way this answer could be any better was if we inserted materials right here in front of work in process but this is the correct sequence
+[127.31s -> 141.84s]  you know, after materials are requisitioned, okay? So we're going to go ahead and circle that because A is the correct answer given the choices that we have.
+[142.90s -> 152.00s]  Looks like we may have some calculations here. It says plant-wide overhead is 150% of direct labor costs.
+[152.00s -> 163.78s]  Okay, so we've got direct labor cost as our activity level. That sometimes happens whenever we have highly skilled employees. We use cost rather than
+[163.78s -> 177.66s]  hours because there's so much variance in how much they make per hour. Job cost sheets had the following balances, and so basically we have jobs one through four, and these are the balances. It says
+[177.66s -> 188.78s]  Jobs Z3 and Z4 were not completed at the end of December. And they want to know what is the balance in work in process at the end of December.
+[188.78s -> 194.19s]  Well, if jobs Z3 and Z4 were not completed,
+[194.99s -> 207.89s]  We probably need to count those. So I'm assuming that these two here are completed. So we don't want to count those. Bring our trusty calculator over here. 35,000.
+[209.07s -> 222.80s]  uh for job z3 plus 18 750 53 750 and look at that my pencil's already pointing to the right answer
+[223.60s -> 237.14s]  And there it is. So this looks, you know, if you just took a glance at this initially, you'd think, well, this is kind of a hard question or might be. But then you actually look at what they want to know. And, oh, it's not so difficult after all.
+[237.14s -> 248.06s]  Might be able to handle that. All right, so this one is going to be a little bit more involved, but nothing that we can't handle if we work together. Says, let's just see what they want to know first.
+[248.06s -> 260.34s]  what is the cost of goods sold for the month of march okay so i highly suggest that you if you really want to understand how to do all of this because we could ask a whole lot of questions
+[260.34s -> 269.39s]  from this scenario. I do have a fairly long video on brief job order cost sheets that you might find helpful and you might not.
+[270.58s -> 283.50s]  So they design and build basketball gymnasiums. These are all custom built, as is the case with anything in a job order costing system, to customer specifications.
+[283.50s -> 295.34s]  uh sunlight uses job order costing to keep track of its cost that's good because that's what chapter we're in in march it worked on three jobs and we have the information here
+[296.46s -> 310.94s]  says that overhead is applied at a rate of $20 per machine hour. And of course, it looks like it's going to give us the machine hours for each job. That comes in handy. By March 31st,
+[310.94s -> 315.34s]  Job 178 is the only one unfinished.
+[315.70s -> 329.60s]  so job seventy eight is a part of work in process notice the question is what is cost of goods sold so if it were me i would just immediately cross this job off
+[329.60s -> 338.48s]  Because it's not completed. And they want a no cost of goods sold. I can't sell it if it's not completed. Additional information.
+[339.31s -> 349.62s]  The balance of finished jobs on March the 1st is $60,000, consisting of job number 177, okay?
+[350.13s -> 359.28s]  jobs one seventy seven and one seventy nine are sold during march sunlight sells its product at a cost of thirty per cent
+[360.78s -> 369.84s]  So what? I'm not asking you to calculate gross margin or revenue or anything like that, so that doesn't matter.
+[370.29s -> 382.80s]  So let's see here. 177 and 179 are sold. Well, that means that 175 is complete but has not sold. So this is strictly finished goods.
+[382.80s -> 395.54s]  And they didn't ask for finished goods. They asked for cost of goods sold. I'm going to put an x through it just like so. All right. So we know a couple things. Job.
+[396.02s -> 403.89s]  177 equals $60,000 in cost. Where'd I get that number? Well, they told me right here.
+[406.22s -> 416.10s]  177. There it is. And we sold that one, so we're going to need that number. And then 179. So it looks like we've got 32,600.
+[416.10s -> 428.40s]  $42,000. And then we've got to account for our machine hours. We have 3,000 machine hours times $20 per machine hour.
+[429.20s -> 442.06s]  equals 60,000. So times $20 per machine hour equals 60,000. Okay.
+[443.09s -> 454.58s]  So we can just take these costs. We've already got, actually this $60,000 right here on the calculator is for this $60,000 in overhead. I'm going to add
+[454.58s -> 463.54s]  I'm going to go kind of backwards here. Direct labor cost of 42,000 plus direct materials of 32,600.
+[464.02s -> 471.60s]  plus this 60,000 here from job 177. So that's a different 60,000.
+[471.95s -> 481.84s]  equals 194. So 134.6 was our total for job 179.
+[487.28s -> 498.45s]  We add those together. We come up with 194,600, and that happens to match choice B. And that is all there is to it.

VideoMMMU_ASR_large/Business/validation_Accounting_15.mp4.txt

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+[0.43s -> 12.27s]  Welcome to helpyourmath.com. This video is a continuation of the correlation coefficient in which we'll be finding the regression equation of the correlation chart.
+[12.27s -> 26.86s]  Last time we had all these data values with the sum of x being 30, the sum of y being 48, the sum of x times y being 295, the sum of x squared 186, and the sum of y squared at 474, while our n equals 5.
+[26.86s -> 41.55s]  Now to get the regression equation, the predictive value equation, we have y hat equals b1, which is the slope, times x, plus b0, which is the y-intercept. So here I'll just notarize that. b1 is the slope of the equation.
+[41.55s -> 44.24s]  While the b0 is the y-intercept.
+[48.21s -> 61.71s]  Now to calculate these two values, there are two equations we can use that contain these sums to assist us so we can get the b1, the slope, and also the b0, the y-intercept. Now the equation for the slope...
+[61.71s -> 75.44s]  is similar to the correlation equation with minor differences, right? The numerator is the same as the correlation coefficient, n times the sum of xy minus the sum of x times the sum of y divided by...
+[75.44s -> 89.15s]  just part of the correlation coefficient, which is going to be just the n times the sum of x squared minus the sum of x bn squared. I'll be careful when you're inserting this, as this is the sum of the value.
+[89.15s -> 102.11s]  x squared, while the second term here is just the sum of x, bn squared. All right, let's calculate this. So now here we go for the slope, and that b1 is equivalent to 5 times
+[102.11s -> 112.02s]  Now, the sum of xy is 295. We'll just write this in. And the sum of x is just 30, while the sum of y is just 48.
+[112.62s -> 124.93s]  All of this is going to be divided by the n, which is 5, the sum of x squared, which is 186, subtracted by the sum of x again, which is right on top, which is 30 bn squared.
+[124.93s -> 139.31s]  So let's calculate what we get on top now, right? 5 times 295 is 1475. While 30 times 48 would give us 1440.
+[141.14s -> 153.65s]  In the denominator here, we have 5 times 186. That's going to give us 930. And 30 squared is 900.
+[155.76s -> 165.86s]  So be sure to use a calculator while you're calculating these to calculate them with accuracy. And also don't forget that when you're doing this on a calculator, you want to calculate everything on top.
+[165.86s -> 176.86s]  and everything on bottom and resolve them one at a time before you actually divide as some calculators may take a mistake while you're dividing them all right so here our b1 is going to give us
+[176.86s -> 186.42s]  1475 minus 1440, that's going to be 35. And on the bottom hand of the denominator we have 930 minus 900, which is just 30.
+[186.42s -> 193.52s]  When we divide these two, we see they have common factors, and this can be reduced if you want to make this easier for yourself. 7 over 5.
+[194.58s -> 208.61s]  Actually, 7 over 6, not 5. And dividing this, we're going to get a repeating decimal. So this will become 1.1666. Continue. This we're going to round up to the fourth place.
+[208.61s -> 222.29s]  as this continually goes to 666 this last six will become a seven because as this continues forever to get a four digit number we need this to be 1.1667 so there we have our slope
+[222.32s -> 236.02s]  The only thing missing, so we can complete this equation, is our value of b0. There's a really short formula to do this for the y-intercept. So the b0 value is just the sum of y minus...
+[236.50s -> 241.68s]  The b1 value times the sum of x all divided by n.
+[242.61s -> 257.07s]  This is actually just a very short formula, really easy to calculate as well. We'll take into account the sum of x, the sum of y, the value of m, and these are the only three we need in combination with the b1. So here we're going to have just 48.
+[257.39s -> 267.38s]  Take away the slope value once it's rounded up 1.1667 and this is going to be multiplied by 30
+[267.86s -> 279.41s]  And everything here is going to be divided by 5. So this takes a bit of calculation, but just be patient. You should be just fine while doing this. And here we're going to have the value of B0. It's 48.
+[279.82s -> 290.93s]  minus the product of 1.1667 and 30 which is exactly 35.001
+[291.47s -> 305.23s]  And then we also have the 5 in the denominator still. If you're still using that calculator, all you have to do is subtract these two top numbers. And here we're going to get the value of 12.9999.
+[307.57s -> 317.55s]  this number is very close to 13. had this not been there the difference between 48 and 35 is just 13 but with this little decimal here we're going to get this result
+[317.68s -> 325.39s]  Now for the final division, once we divide 12.999 by 5, what we're going to get here is 2.5.
+[333.30s -> 346.74s]  And there we have our y-intercept. Now to complete the equation of the line, it's pretty straightforward. All we're going to do is we're going to take this equation. We're going to substitute our b1, which is 1.667.
+[347.02s -> 358.45s]  And we're going to insert our p0. So here we'll have y hat equals 1.1667x.
+[358.93s -> 366.67s]  Plus, since the y-intercept is positive, we keep this positive. 2.5998.
+[367.73s -> 375.95s]  So that's our final value for our equation of the predicted value equation. All right, there's our regression equation line. Thank you.

VideoMMMU_ASR_large/Business/validation_Accounting_2.mp4.txt

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+[13.55s -> 25.52s]  Do you have a savings account? I sure hope so. It's good money management practice. Well, corporations have savings accounts too, only it is called retained earnings.
+[26.03s -> 31.22s]  Let's analyze these two words, retained plus earnings.
+[31.86s -> 45.65s]  Retained means to keep. Corporations retain their earnings from year to year to be used for different purposes. What is retained earnings used for? 1. To pay out dividends.
+[45.65s -> 55.73s]  2. Reinvest earnings into other business ventures. 3. Finance other areas of their operations.
+[57.52s -> 65.10s]  Earnings is the amount of money earned through the regular course of business after all expenses are deducted.
+[67.86s -> 76.05s]  Where is retained earnings reported? Retained earnings is reported in the stockholders equity section on the balance sheet.
+[77.78s -> 92.40s]  So how do we calculate retained earnings? Here is the equation. Beginning retained earnings plus net income minus dividends equals ending retained earnings.
+[92.82s -> 98.58s]  The ending retained earnings is the value that is reported on the balance sheet.
+[98.96s -> 111.79s]  Now, let's review. What is retained earnings? It is the amount of income earned through regular course of business that is retained from year to year.
+[111.79s -> 124.18s]  Here is the equation revisited. Beginning retained earnings plus net income minus dividends equals ending retained earnings.
+[127.98s -> 142.96s]  For more free videos, online courses, and accounting training, visit accountinguniv.com. And remember to subscribe and like. More videos coming your way soon.

VideoMMMU_ASR_large/Business/validation_Accounting_20.mp4.txt

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+[0.00s -> 4.18s]  In this video, we're going to discuss multi-factor models in investing.
+[4.18s -> 18.58s]  So the most widely known model for estimating the expected return of a security is the capital asset pricing model, where it's modeling the expected return as a function of a single factor, which is capturing systematic returns.
+[18.58s -> 32.78s]  risk this is beta so we talk about the beta of a security we're saying how many units of risk are in this security with respect to changes in the overall market so the systematic risk remember that's risk that cannot be
+[32.78s -> 41.20s]  diversified away. It's saying how much does this securities return a function of changes in the overall market?
+[41.20s -> 55.50s]  Okay, so the market goes up. Let's say we've got a beta 1.5. We say, okay, the market goes up by 1%. Then this security goes up by 1.5%. Now, the single factor model is nice for its simplicity.
+[55.50s -> 69.71s]  we might think about this systematic risk it includes so many different things it includes expectations about the overall economy and what the GDP is going to be it includes expectations about what the inflation rate is going to be what interest
+[69.71s -> 83.92s]  rates are going to be. All these different macroeconomic factors are part of this systematic risk. And so you might consider and say, hey, maybe different types of securities react in different ways.
+[83.92s -> 98.13s]  to changes in interest rates, to changes in inflation. For example, might a bank respond differently to changes in interest rates than a grocery store? Sure, that's reasonable to think that. And so when we just use a single...
+[98.13s -> 112.34s]  factor that measures systematic risk that's a great start but some people have said well look we can actually think about breaking this systematic risk into its component parts so that we might more accurately predict the expected
+[112.34s -> 126.54s]  return of the security and when we do that when we have multiple factors here so we have we could have this factor we have another factor we have another factor for interest rates and so forth we have different factors we call that a multi-factor model
+[126.54s -> 134.50s]  So I want to give you just an easy example. So let's say that we are going to estimate a two-factor model for a fictional company called Happy Bank.
+[134.50s -> 147.84s]  And our two factors, we're going to make this really simple. We're just going to have inflation and interest rates. Those will be the only two factors in the model. And so we go and we estimate the model with regression analysis and we get the following result.
+[147.84s -> 162.13s]  And so we've got this 0.11 here. That's going to be the expected excess return for Happy Bank. So that's 11%. That's the expected excess return. But now we've got to think about our two factors. We've got a factor here and we've got a factor here.
+[162.13s -> 176.43s]  And each of these factors, so it's a coefficient estimate is what we call this in a regression. So this 0.2 is telling us that if we have a one percentage point increase in inflation.
+[176.43s -> 190.74s]  Okay, so we have an unexpected 1 percentage point increase in inflation. Then that would lead to a 0.2 percentage point increase in the expected return. Okay, now conversely, now we have an...
+[190.74s -> 204.94s]  negative sign with our other factor so that means that if we were to have an unexpected 1% increase one percentage point increase in interest rates then that would predict that we would have a decrease of
+[204.94s -> 219.15s]  0.4 percentage points in the expected return. Okay, so we don't have to have just two factors here. We could have a third factor that measures GDP. We could have a fourth factor. We could have a fifth factor.
+[219.15s -> 229.84s]  most famous of the multi-factor models is the Fama French model. And then also we've got Fama French Carhartt and so forth. And we'll talk about all of those in the videos to come.

VideoMMMU_ASR_large/Business/validation_Accounting_24.mp4.txt

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+[0.00s -> 14.42s]  In this video, I want to walk you through a CFA level one exam style question on Jensen's alpha or simply alpha, which is a topic very much related to the capital asset pricing model. So if this is something you
+[14.42s -> 21.90s]  want to get right in the exam, do keep watching and let's get solving. So this is the question which I want us to have a go at.
+[21.90s -> 35.79s]  if you watch the previous two videos you will recall these figures for portfolio x y and z we've got some performance information including return standard deviation and beta we also have the return on the market portfolio 2.3 percent
+[35.79s -> 50.06s]  its standard deviation and a risk-free rate of return equal to 0.5 and we're asked about which portfolio offers the best performance as measured by jensen's alpha now jensen's alpha is
+[50.06s -> 64.48s]  basically something that we probably had already exposure to. I've definitely recorded previous videos on this, although I didn't call it alpha as such. It was all about whether a stock is generating returns.
+[64.48s -> 75.39s]  in excess or below the rate of return required under the CAPM model, given its level of systematic risk. So basically...
+[75.39s -> 88.88s]  this thing called alpha, which we also call Jensen's alpha, is equal to the return on the portfolio, either expected or, you know, historically experienced minus
+[88.88s -> 101.52s]  what the CAPM model would predict is the required rate of return. And that's obviously a function of the risk-free rate plus the beta of that specific portfolio times RM.
+[101.52s -> 107.92s]  minus rf where rm is the rate return on the market portfolio and rf is once again
+[107.92s -> 122.03s]  the risk-free rate of return and obviously if this relationship is positive if a portfolio is generating more than what's required by uh under the cap and model let me
+[122.03s -> 134.50s]  perhaps just finish this off with a nice square bracket at the end to close this off and make the formula complete well if this relationship is positive then a stock would be described as lying above
+[134.50s -> 147.86s]  the sml the security market line if the relationship is negative it's yielding less than what's required and that would respectively lead us to conclude that the stock is either
+[147.86s -> 161.42s]  undervalued if it's above or the sml or undervalued if it's below the sml and we've had previous questions on that comparison and whether stocks are under or overvalued okay so
+[161.46s -> 172.53s]  Let's compute this for portfolio X to start with. Its return is 2%. What would be predicted by the CAPM model?
+[172.53s -> 186.42s]  The RF is 0.5% plus the beta on this specific portfolio being 0.8 times the rate of return on the market, which is 2.3.
+[186.93s -> 199.62s]  minus 0.5 percent close the bracket okay i'm going to take my phone with the calculator and quickly do this not really sharing my phone screen with you as there is nothing um
+[199.62s -> 205.26s]  terribly exciting happening in terms of the computations so let me start with
+[205.55s -> 218.93s]  this 2.3 minus 0.5 that's obviously 1.8 times the beta of 0.8 okay plus 0.5 okay and i see
+[219.86s -> 233.04s]  A result equal to, let me write this down over here, it's going to be 0.06% and it's positive. So this suggests a little bit of alpha, very small.
+[233.04s -> 243.31s]  but a little bit of excess performance on a sort of risk-adjusted basis where we, as risk, we take into account systematic risk only.
+[243.31s -> 255.02s]  Good. So better than the required rate of return from the CAPM model. How about Y? Well, over here we're going to have...
+[255.02s -> 269.01s]  the return of four and a half percent minus the same thing as before 0.5 plus and the only thing that changes here is the beta which is going to be specific to the teach portfolio 1.6 other than that
+[269.20s -> 276.58s]  We've got 2.3 minus 0.5, just like before. So I know the term here in the...
+[276.58s -> 290.86s]  in the bracket is 1.8 so that's 1.8 times the new beta of 1.6 let's add 0.5 to that 3.38 okay and this is definitely going to yield something
+[290.86s -> 299.02s]  positive i see a positive difference of 1.12 percent so this stock definitely
+[299.02s -> 312.29s]  yields more than what would be required under the CAPM model given its level of systematic risk as measured by beta. So we would say that this stock is lying above the SML, the security market line.
+[312.29s -> 324.40s]  And we would also conclude that it is undervalued. Now, what about Z? For portfolio Z, we've got 6.2%. Once again, minus...
+[324.40s -> 338.64s]  square bracket 0.5 percent plus a beta of 2.5 and uh same thing as before in the bracket 2.3 minus 0.5 close both brackets
+[339.41s -> 353.04s]  So, this is 1.8 multiplied by a beta of 2.5 plus 0.5, okay, minus...
+[354.51s -> 359.55s]  And for this one, I see a result which is even higher.
+[359.55s -> 371.22s]  it's positive and it's 1.2 percent so that's a measure of the excess return above what's required and that will lead me to conclude that portfolio z is
+[371.50s -> 380.46s]  The one which performs best. It's got the best performances measured by Jensen's alpha. So, answer C.

VideoMMMU_ASR_large/Business/validation_Accounting_25.mp4.txt

@@ -0,0 +1,33 @@
+[0.43s -> 12.67s]  Helo, selamat hari. Dalam video sebelum ini, saya telah membincangkan beberapa teori portfolio dan harga aset utama dari teori portfolio moden pada tahun 1952
+[12.67s -> 26.86s]  ke Kepem pada tahun 60-an. Hari ini saya akan bergerak ke tahun 1970 dengan menunjukkan kepada anda teori yang mempengaruhi aset, teori harga arbitraj.
+[26.86s -> 36.02s]  Mari kita mengetahui bersama-sama apa itu APT dan bagaimana APT boleh digunakan dalam peningkatan aset.
+[37.30s -> 49.17s]  Pada tahun 1976, Stephen Ross mengembangkan Teori Pricing Arbitrasi. Dia mempunyai pendekatan multifaktor untuk menjelaskan harga aset.
+[50.38s -> 61.33s]  Sebelum kita bergerak ke kisah tentang APT, mari kita ambil masa untuk memahami konsep arbitrage. Kemudian anda akan dapat menghargai
+[61.33s -> 75.10s]  mengapa model yang dikembangkan oleh Stephen Ross dipanggil APT. Menurut definisi Valdi, Kane dan Marcus pada tahun 2011, arbitrage adalah penggunaan.
+[75.10s -> 87.10s]  peningkatan keselamatan dengan cara sebegitu bahawa keuntungan tanpa risiko boleh diperoleh. Menurut Herschel dan Nozinger dalam 2010, arbitrage
+[87.10s -> 96.94s]  hanyalah pembelian dan penjualan aset yang sama pada harga yang berbeza untuk menangkap peningkatan yang salah
+[100.08s -> 113.78s]  Peraturan Satu Harga mengatakan bahawa dua aset yang sama sepatutnya mempunyai harga pasaran yang sama. Peluang pembayaran akan muncul jika aset yang sama dihantar untuk harga yang berbeza.
+[113.78s -> 124.35s]  di dua lokasi yang berbeza. Perbelanjaan satu harga dilaksanakan oleh pembayar RBI yang akan mengambil kesempatan harga dalam kawasan ini.
+[124.35s -> 136.21s]  Penjual akan membeli aset di tempat yang murah dan menjual di tempat yang tinggi. Melalui mekanisme penjualan ini, harga akan berpindah kembali ke kawasan.
+[136.30s -> 149.22s]  Peluang arbitrage berlaku apabila pelabur dapat memperoleh keuntungan tanpa membuat pelaburan net.
+[149.22s -> 160.19s]  pelabur boleh menggunakan proses daripada jualan pendek untuk membeli long dan oleh itu transaksi boleh dibuat tanpa pelaburan
+[160.19s -> 165.65s]  Ini menjadikan transaksi transaksi yang tidak berguna
+[168.46s -> 180.88s]  APT adalah teori untuk menjelaskan keuntungan stok berdasarkan sensitiviti kepada banyak faktor risiko. Ia mengandung model linier.
+[180.88s -> 192.13s]  keuntungan dalam pelaburan boleh dijelaskan dengan lebih daripada satu faktor. Menurut APT, pasar adalah sempurna efisien jika
+[192.13s -> 200.85s]  tidak mungkin untuk menghasilkan keuntungan arbitrage tanpa risiko dengan membeli dan menjual aset yang sama
+[202.42s -> 213.36s]  APT mengatakan bahawa terdapat banyak faktor yang menyebabkan kembali, berbeza dengan KPM di mana risiko yang terkait sahaja adalah beta.
+[213.68s -> 227.79s]  APT tidak mengatakan apa faktornya. Contohnya, keuntungan stok perniagaan syarikat mungkin terpaksa oleh perubahan dalam harga minyak. Kebanyakan syarikat transport, seperti pesawat,
+[227.79s -> 240.72s]  akan mempunyai sensitiviti negatif kepada perubahan harga minyak. Beberapa syarikat akan lebih sensitif kepada faktor tertentu daripada syarikat lain. Contohnya, syarikat minyak
+[240.72s -> 246.16s]  boleh menjadi lebih sensitif kepada faktor minyak daripada industri pengguna
+[249.04s -> 260.46s]  APT adalah model yang lebih jeneralisasi daripada CAPM dan kurang restriktif dalam pengiraannya. Ada lima pengiraan yang ditandakan di sini.
+[263.12s -> 274.16s]  Ini menunjukkan model APT. Dalam formula ini, keuntungan sebenar pada aset dikalkulasi. ER bermakna keuntungan yang diharapkan
+[274.16s -> 287.73s]  F adalah setan faktor umum yang mempengaruhi keuntungan pada aset Beta adalah sensitiviti faktor pada keuntungan aset E adalah terma kesilapan
+[287.89s -> 301.20s]  Di sini, formula menunjukkan bahawa APT adalah proses stokastik yang menghasilkan keuntungan aset yang boleh dikatakan sebagai fungsi linear setiap faktor risiko
+[302.77s -> 313.58s]  The APT can also be expressed in terms of expected risk premium. Expected risk premium is the actual return minus risk free rate.
+[313.58s -> 327.22s]  APT mengatakan bahawa premium risiko yang diharapkan pada stok harus bergantung pada premium risiko yang diharapkan terkait dengan setiap faktor dan sensitiviti stok kepada setiap faktor
+[328.62s -> 334.06s]  Mari kita gunakan formula APT dalam contoh ini
+[342.80s -> 350.48s]  Apa jawapan anda? Jawapan adalah C
+[354.93s -> 362.80s]  Mari kita cuba contoh lain. Di sini kita mempunyai portfolio A dan B. Apa yang akan anda lakukan?
+[372.94s -> 385.28s]  Jika anda mahu mengambil kesempatan arbitrage, anda harus mengambil posisi pendek dalam portfolio B dan posisi panjang dalam A. Mengapa begitu?
+[385.28s -> 394.35s]  kerana A di bawah nilai dan B di atas nilai apabila mereka terhadap risiko yang sama F
+[398.86s -> 403.50s]  Saya harap anda dapat memahami sesi ini. Jumpa lagi dan selamat tinggal.

VideoMMMU_ASR_large/Business/validation_Accounting_26.mp4.txt

@@ -0,0 +1,21 @@
+[0.00s -> 9.76s]  In this video we are going to discuss cost-based pricing strategy and one very important concept associated with cost-based pricing strategy.
+[9.76s -> 21.60s]  now in another video we talked about different types of cost based pricing strategy like the cost plus pricing and markup pricing but in this video we are going to talk about break even pricing
+[21.60s -> 34.51s]  break-even pricing is a very important concept in pricing strategy because break-even pricing is the price at which you are able to recoup all your cost right so your profit is zero
+[34.51s -> 47.12s]  the revenue that you are going to get is equal to the cost that you are incurring so if you can find out your break-even price then you know that a price higher than the break-even price would lead to profit
+[47.12s -> 60.42s]  and a price lower than the breakeven price would lead to a loss. Now let's do some calculations to understand this concept a little bit more. Now we know that profit equals to
+[60.42s -> 72.54s]  total revenue minus total cost now we know that total revenue is a multiplication of your price times quantity which we will turn p times q here
+[72.54s -> 84.46s]  We also know that your total cost consists of fixed cost and variable cost where the variable cost is the unit variable cost multiplied by the quantity.
+[84.94s -> 98.06s]  Whereas the fixed cost is represented just by the fixed cost Now since we have profit equals total revenue minus total cost Our equation comes out like this
+[109.07s -> 118.08s]  From this equation we can see that for different quantities the breakeven prices will be different So let's figure this out with an example
+[118.08s -> 132.29s]  Let's consider that the unit variable cost to produce this toasty toast is $5 So if you produce one unit of this it will cost you $5 if you produce a hundred unit of it It will cost you $500
+[132.29s -> 140.53s]  here the price is dependent upon how many you produce now let's consider the fixed cost to produce this product and think that it is
+[140.53s -> 148.69s]  for example say ten thousand dollars now that cost is fixed it means that it does not matter whether you produce one or you produce a million
+[148.69s -> 159.39s]  the cost is still going to be $10,000. For example, the factory, the machines, the real estate, the company uses for production is $10,000. Even if you shut down the factory,
+[159.39s -> 172.24s]  you still have to incur that cost of 10,000. So it's a fixed cost. Now, for example, let's say that we want to produce 5000 of these Tostitos. Therefore, the quantity Q is 5000.
+[172.34s -> 186.74s]  Now we have our previous equation which can be represented as this. Now doing some math. Yada yada yada. Yada yada yada. Yada yada yada. We get the price equals to seven dollars.
+[186.74s -> 199.04s]  now based upon this analysis you should price your product at at least seven dollars to break even if you're planning on selling five thousand units now one thing we need to know
+[199.04s -> 210.11s]  is that the price is dependent on the quantity produced so this price of seven dollars is is if you produce five thousand units now if you produce lower
+[210.11s -> 219.70s]  quantity then the break-even price will go higher but if you produce a higher quantity then the break-even price would go down now let's check this by
+[219.70s -> 233.31s]  imagining that we want to sell 8,000 Tostitos instead of 5,000. Now using the same formula.
+[233.31s -> 247.02s]  Yetta what? We get a price of $6.25. So in this case, your break even price went down from $7 to $6.25 if you want to produce 8,000 units.
+[247.02s -> 250.46s]  Thank you very much for watching. Have a good day.

VideoMMMU_ASR_large/Business/validation_Accounting_27.mp4.txt

@@ -0,0 +1,23 @@
+[0.00s -> 4.66s]  In this video, I'm going to teach you how you can calculate the debt to equity ratio for a company.
+[4.66s -> 18.40s]  using a balance sheet so let's start by looking at the basic formula so debt to equity ratio is simply the ratio of the total liabilities divided by the total stockholders equity or in other words we're basically doing all of the money the company owes
+[18.40s -> 27.36s]  divided by all of the money that's been put in by the owners of the company. And this is going to give us a measure of how reliant the business is on debt.
+[27.36s -> 41.65s]  and can also tell whether there's too much equity and perhaps they have capacity to take on more debt. And it's also a risk measure to some extent. So let's look at a balance sheet. So we've got the balance sheet from a company called Realty Income, very popular real estate investment.
+[41.65s -> 52.13s]  trust and it files a form 10k the good thing about form 10k is it's set out in a really clear way that's quite easy to pick out our value so you have to have some care and caution here
+[52.13s -> 62.42s]  So you've got the debt to equity ratio formula there. We can immediately see that the total liabilities is given there. So you've got the dividends that haven't been paid out yet. Things like accounts payable.
+[62.42s -> 74.27s]  That's money that they are going to be paying to other people at some point. It's not their money. It's money they need to pay out. And then you've got various categories of loans and liabilities. And they're all added up for you.
+[74.27s -> 84.13s]  So we take that number and then we have to get the total stockholders equity. And this is where it gets a little bit confusing. There is a line that says total stockholders equity, but that's not the one that we're going to use.
+[84.13s -> 92.21s]  we're going to use the total equity so the sec and their definition of debt to equity and generally the accepted definition of of
+[92.21s -> 99.55s]  debt to equity includes non controlling interest because they are equity capital in the company. So we're going to include that.
+[99.55s -> 110.90s]  And so you do the division. So you substitute in your total liabilities on the top. You take your total equity and you put it on the bottom. You calculate that and it gives you a debt to equity of 0.89.
+[110.90s -> 125.04s]  So this means that there is 0.89 cents or 89 cents of debt for every dollar of equity. Sometimes it's helpful to present it in a percentage. So this is saying that
+[125.04s -> 137.73s]  there is a debt to equity percentage of 89%. And we now need to think about how you actually interpret this number and we'll look at it in terms of the decimal value. So this is a general rule of thumb and you have to
+[137.73s -> 151.39s]  analyze the company individually different companies are perfectly safe perfectly well not safe they're perfectly reasonable at much higher debt to equity ratios than some other companies
+[151.39s -> 162.34s]  so as a rule of thumb something that's lower than 0.5 is generally low risk you're not going to be worried just because of the debt to equity if something's going to worry you is going to be somewhere else
+[162.34s -> 175.44s]  A debt to equity of less than 0.5, suggesting that perhaps the company is overfinancing their business with equity and are overly cautious and their returns are going to be lower because the cost of debt is so much lower than the cost of equity.
+[175.44s -> 188.74s]  Less than one is fairly reasonable. You're not going to be setting off alarm bells. One to two is typical for a lot of businesses. Once it starts to go more than two, you want to proceed with a little bit of caution. You ought to be considering the trend.
+[188.74s -> 199.12s]  Is it getting worse? Are they leveraging up? If a company is loss making with a debt to equity of over two, you're going to start to get really worried. If it's more than five, you want to proceed with great caution.
+[199.12s -> 211.98s]  So you'll be looking for special cases, for example, banks, by the way that they operate, just have higher debt to equity ratios because banks are financed by borrowing money from one set of people and lending it out at a higher rate.
+[211.98s -> 222.42s]  and utility companies that have very sustainable cash flows things like electricity generation companies that have got monopoly positions power distribution and
+[222.42s -> 234.86s]  water companies they can survive with very high debt to equity because they have very guaranteed very stable cash flows and so that's not going to worry you so much whereas a cyclical business
+[234.86s -> 249.14s]  Like an airline with a debt to equity of more than five would really be a no-go. So there's some general rules of thumb, but it is very company specific and you have to do your analysis and use this as one of many tools in understanding the financial position of a business.
+[249.14s -> 255.09s]  So hopefully this video has been very helpful to you. And finally, thank you very much for watching.

VideoMMMU_ASR_large/Business/validation_Accounting_3.mp4.txt

@@ -0,0 +1,27 @@
+[0.66s -> 12.40s]  hello everybody so today i want to talk about finance the topic today is about discounted
+[13.20s -> 16.02s]  operating cash flow
+[16.56s -> 30.19s]  and next present value. So we have initial investment and we have 3 selections of projects from A to C.
+[30.19s -> 43.87s]  Now we need to select which one should be the highest NVV. So now I want to show you how to answer. The formula of this one
+[43.87s -> 52.75s]  we have NBV equals to negative initial investment.
+[60.02s -> 63.60s]  Then we need to add about
+[66.13s -> 75.76s]  operation cat flow number one represent about the Z number one over one plus R
+[76.72s -> 87.86s]  and the second one we have OCF number 2 over 1 plus R to the power of 2
+[90.13s -> 103.76s]  and so on until we have OCFN over 1 plus R to the power of n.
+[104.78s -> 117.30s]  So in this situation, I just select only 3 years from year number 1 to year number 3. Now we can apply this formula in here.
+[118.26s -> 124.78s]  So we calculate about next present value of project 8.
+[130.54s -> 138.93s]  So we have negative 10,000 initial investment in here.
+[141.78s -> 153.97s]  so because we need to use about discounted operating cash flow so we have 5,000 we divide by 1 plus r
+[155.28s -> 168.91s]  And the interest rate, that is about 5%. And the next one, we have 5,000. That is about year number 2.
+[173.07s -> 184.14s]  and we have 1 plus 5 to the power of 2 and the last one we have 5,000
+[185.46s -> 198.10s]  over 1 plus 5% to the power of 3 so we calculate this one
+[198.90s -> 207.98s]  and we have 3616.24
+[210.51s -> 217.58s]  This is about the next present value of the project 8. Now let's go to B.
+[221.90s -> 228.85s]  So we have negative 10,000 that is about initial investment
+[229.52s -> 237.97s]  so if we look carefully that's only year number two and we have 15,000 we put in here
+[239.25s -> 251.82s]  because this is about yi number 2 so we have 1 plus r to the power of 2 and that is about 5% in here
+[252.43s -> 265.65s]  So we calculate this one and we have 3,605.44
+[266.29s -> 276.27s]  and the last one we have negative 10,000
+[278.22s -> 282.83s]  So in this situation we just have this one and this one.
+[313.20s -> 324.75s]  We have 3389.48.
+[325.55s -> 337.97s]  Now after we calculate and we can see that this one that is about the highest NPV So we need to select about this project 8
+[339.06s -> 343.15s]  That is the end. Thank you for watching.

VideoMMMU_ASR_large/Business/validation_Accounting_5.mp4.txt

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+[1.17s -> 7.86s]  Hi, in this video I explain how to calculate equivalent units under the weighted average method.
+[8.43s -> 19.38s]  Now, equivalent units of production represent the number of physical units that could have been completed during the period when we consider the amount of material and conversion costs that were used.
+[20.14s -> 32.00s]  Think of soda bottles being filled at a manufacturing plant. Not all bottles will be completed at the end of the month. Using the method of equivalent units, we can take these partially completed units,
+[32.00s -> 44.34s]  and combine them into the number of equivalent units for our calculation purposes. For example, if we have four physical units that are 25% complete, those would equate to one equivalent unit.
+[45.04s -> 58.29s]  There are two common methods for calculating equivalent units, FIFO and weighted average. Now in this video, I only cover the weighted average method. I have a separate video where I show how to do the calculations under the FIFO method.
+[58.93s -> 72.85s]  Now the weighted average method is not concerned with our units at the beginning of the period, but instead we look at the end of the period and how much resources were used to date in creating those units.
+[73.20s -> 76.11s]  So let's look at our weighted average unit example.
+[76.50s -> 89.30s]  Here we have some data on some physical units, and we have a formula that tells us that beginning units in work in process plus units started equals our ending work in process plus units completed.
+[89.30s -> 103.02s]  What this formula is basically showing us is that when we consider all of the units that were worked on during the period, those units are either completed or not completed, meaning they're in our ending work in process.
+[103.02s -> 114.16s]  So we can take this formula and plug in the amounts given from the table and then solve the formula to determine that our unit's ending work in process is 1,100.
+[114.70s -> 126.86s]  Now we have the complete information we need on our physical units, so now we can start calculating our equivalent units. So again, we're going to look at our table and fill in the physical unit information that we need.
+[127.38s -> 141.42s]  Now, as I said, weighted average method is not concerned with our beginning inventory, so we do not need any of this information when doing our weighted average calculations. What we do need to know is our units completed.
+[142.22s -> 153.39s]  and our units in ending work in process. So we can add those to our tables, and now we see that our total units to be accounted for is 48,400.
+[153.78s -> 157.39s]  Next we need to look at how much was completed.
+[158.54s -> 171.57s]  So notice our degree of completion is different between our direct materials and our conversion costs. For this reason, we have to calculate separate equivalent units for direct materials and for conversion.
+[171.92s -> 186.70s]  So let's start with direct materials. When we look at our table, again we have our units completed. Those units are 100% done because they're complete. So therefore in our table we can put 100%.
+[188.11s -> 201.78s]  Now for our units and ending work in process, we need to look at the data that was given and that data tells us that they are 0% complete with regards to materials. No materials have been added to these units in process so far.
+[202.35s -> 214.77s]  We're going to go ahead and put 0 in our table. And now to calculate the equivalent units, we're going to take the physical units times that percent added, and that gives us the equivalent units.
+[216.53s -> 228.27s]  When we multiply that out, we see that our equivalent units for direct materials is 47,300. Now we have to repeat this process for the conversion costs.
+[228.82s -> 239.95s]  So again, our degree of completion is different between the two. And so we are doing a separate set of equivalent units for our conversion costs.
+[242.58s -> 250.10s]  Again, our units completed are completed, so they're done with regards to conversion costs as well, so we put a 100% in our table.
+[250.64s -> 263.02s]  And then we look to our data to determine the status of our units and ending work in process. And here our table tells us that they are 30% complete. And so we're going to put the 30% into our table.
+[264.46s -> 278.06s]  Next, we calculate our equivalent units by taking the physical units times the percent added during the period. We multiply it out and we see that our equivalent units for conversion costs are 47,630.
+[279.57s -> 292.59s]  Now I want to point out just one more time that because these percentages of completion are different between direct materials and conversion, we end up with two different sets of equivalent units for our calculations.
+[293.52s -> 305.55s]  Next, we can look at our costs. Here we have our costs to be accounted for. We're going to take our beginning work in process costs plus the cost added this period to get us our total cost to account for.
+[305.90s -> 320.46s]  Now we can calculate our cost per equivalent unit. To calculate cost per equivalent unit, we need total cost and the equivalent units. So here we're going to take the total cost, plug it into our table.
+[320.46s -> 332.66s]  Our equivalent units, which came from step two, and we divide to determine our cost per equivalent unit. And so here we have our cost per equivalent unit when we use the weighted average method.
+[333.30s -> 341.11s]  Now again, I have a separate video where I describe how to calculate equivalent units and unit costs under the FIFO method.

VideoMMMU_ASR_large/Business/validation_Accounting_9.mp4.txt

@@ -0,0 +1,17 @@
+[0.08s -> 4.42s]  Hi guys, so let's now take a look at cash flow and
+[4.42s -> 18.77s]  cash inflows and cash outflows okay so a nice little analogy to help you understand this is uh thinking of this sort of bathtub excuse my really crude drawing here but hopefully uh it gets the perspective
+[18.77s -> 32.98s]  here okay so we've got inflows coming into the bar through the tap and then we've got the outflows going down the plug hole here okay so let's have a look at these inflows inflows also know
+[32.98s -> 47.18s]  as receipts of course so it could be that you make cash sales and you actually get paid up front or when those goods are actually taken by the consumer of course then you've got credit sales that's where the consumer buys now but
+[47.18s -> 61.39s]  a little bit later okay so you may offer 28 days credit perhaps okay and that means that they've got four weeks to actually pay that invoice it could be of course that you get a loan and that loan will actually boost your cash
+[61.39s -> 75.60s]  flow and help actually ensure that you have cash in the bank or water in the tub so to speak okay it could also be that you have capital introduced through owners capital or that you have a share
+[75.60s -> 79.70s]  sale and that you sell share capital.
+[79.70s -> 94.22s]  alternatively you might choose to actually sell any unwanted assets or do a sale and lease back on a vehicle or something like that and that sale of that asset would bring cash into your bank account of course and then
+[94.22s -> 108.43s]  bank interest received all right so any savings that you've got may well get interest on them uh any savings the business has that is okay may well receive interest on them and as a direct consequence of that then again that's
+[108.43s -> 122.64s]  going to make money entering your bathtub okay but of course you've got money going down your plug hole as well and that is outflows or payments okay so the outflows or payments well cash purchases where you've had
+[122.64s -> 136.85s]  buy raw materials of stock credit purchases where you've bought things on buy now pay latest basis okay and perhaps again you have 28 days to pay those back you got rent okay uh you've got rates uh rates
+[136.85s -> 141.74s]  Very similar to council tax, but applied to business. Wages.
+[141.74s -> 156.02s]  a variable cost of course production more you produce the greater the wages will be salaries well they're going to be a fixed cost of course uh monthly uh payments to your workers okay so if you take salary at 24
+[156.02s -> 167.46s]  thousand pounds divide that by twelve it's two thousand pounds every month okay um then you've got utilities so heating lighting water phone
+[167.46s -> 181.74s]  broadband etc uh purchase of assets so if you buy any new assets okay of course that's going to be a cash outflow then there's value added tax okay to pay and bank interest all right so if you've got to pay
+[181.74s -> 191.26s]  any interest back on any loans or mortgages perhaps that you've actually got then you've got to pay those back so overall you get your net cash flow
+[191.26s -> 204.10s]  uh position your net cash flow position is simply your inflows minus your outflows or alternatively your receipts minus your payments okay guys i hope that was useful thanks a lot

VideoMMMU_ASR_large/Business/validation_Economics_1.mp4.txt

@@ -0,0 +1,36 @@
+[3.54s -> 4.34s]  Thank you.
+[4.34s -> 18.90s]  Hey guys, in this video, I'm going to try to quickly explain the difference between the reserve ratio and the required reserve ratio. These are two terms that we might come across in our textbooks, and sometimes kids get a little bit confused between the reserve ratio and the required reserve ratio.
+[18.90s -> 21.79s]  In a nutshell, guys, the reserve ratio is focused on what's
+[21.79s -> 36.08s]  actually going on inside of the banking system it is saying hey what is the ratio between reserves and demand deposits that we're actually seeing out there okay the required reserve ratio is focused on the potential relationship
+[36.08s -> 40.37s]  the maximum potential relationship between reserves.
+[40.37s -> 54.64s]  and demand deposits, okay? So again, the required reserve ratio is focused on potential or maybe better, maximum. The reserve ratio is actual. Now, if you didn't get that, let's get through the rest of the video, okay? So I want to say that what's actually happening in banks
+[54.64s -> 57.73s]  Banks are choosing to hold...
+[57.73s -> 72.05s]  $1 in reserve for every $5 in demand deposits. Let me say that again. $1 in reserves for every $5 in demand deposits. So that means their reserve ratio, if that's what they're actually doing, is 20%, right?
+[72.05s -> 73.95s]  20%. They're holding.
+[73.95s -> 88.27s]  20% of their demand deposits as reserves. Let me say that again. They're holding 20% of their demand deposits as reserves. Now, we then might find out in the problem that the required reserve ratio is 10%, and then the problem may go on to...
+[88.27s -> 100.27s]  ask how many excess reserves are banks choosing to hold which the correct answer would then be 10% right because if you add 10% and 10% you get
+[100.27s -> 114.58s]  20% what's actually going on. Okay. Now, another problem that you might get might not actually show the actual ratio of one to five. All right. It might just simply start off with, Hey, required reserve ratio is.
+[114.58s -> 119.38s]  10% excess reserves are 5%
+[119.38s -> 133.74s]  and then it might say hey what is the reserve ratio to which again you would in this situation say it is 15 okay that's what's actually going on again banks have to hold this but they're also choosing to hold an additional
+[133.74s -> 143.98s]  5% of reserves for every demand deposit that they have, giving us a reserve ratio of 15%. Now, the money multiplier. Do we do...
+[143.98s -> 151.98s]  one over the rr right do we do one over the reserve ratio for our money multiplier you can if a problem
+[151.98s -> 166.35s]  basically said hey here's the amount of demand deposits that we see here's the amount of reserves that we see what must be the money multiplier so hey they say five hundred thousand they say one hundred thousand what must be the money multiplier well it must be five
+[166.35s -> 177.57s]  But you are rarely going to see that, okay? Most of the time when they start talking about the money multiplier, they want the money multiplier that gives the maximum.
+[177.57s -> 191.95s]  the maximum expansion of demand deposits that we can get from reserves okay let me say that again most of the time when we're talking about the money multiplier when i say most i'm saying almost all the time we're talking about the money multiplier we're going to be focused on what's the maximum
+[191.95s -> 202.61s]  expansion and demand deposits that we can get from reserves. So let's get to the required reserve ratio. First thing, definition. It is the percent.
+[202.61s -> 210.54s]  of demand deposit a bank must or is required to hold in reserves that's what the required reserve ratio is
+[210.54s -> 218.10s]  Where do kids mess that up? Occasionally, when I ask a student, they may say it is the percent of reserves that they must hold in reserves.
+[218.10s -> 232.46s]  guys that's a problem right that doesn't even make sense okay that's a nonsensical statement right there again the required reserve ratio is the percent of demand deposits a liability to banks they must hold in reserves reserves being an asset okay so
+[232.46s -> 242.62s]  in this particular case guys yeah maybe they're choosing to only have five times more demand deposits than reserves but it's saying the maximum
+[242.62s -> 256.91s]  okay, amount of demand deposits they could have to their reserves is a tenfold increase. For every one reserve, it can support $10 in demand deposits, which means the required reserve ratio is 10.
+[256.91s -> 271.12s]  percent and then if you get asked the money multiplier you would then say oh the money multiplier is one over the rrr especially if they are asking me a question about the maximum change in say bank
+[271.12s -> 280.16s]  lending, demand deposits, or the money supply. I'm going to use 1 over the RRR, which in this particular case is 1 over 0.1, which is
+[280.16s -> 291.04s]  So if we see reserves go into the system of a certain amount, let's just say $100,000,
+[291.04s -> 303.58s]  The required reserve ratio is 10%. So banks get $100,000 in reserves. And it says, what's the maximum demand deposits could expand to? Our answer is going to be $1 million, right? $100,000.
+[303.58s -> 310.32s]  times 10 demand deposits could expand to a maximum of 1 million dollars again if banks
+[310.32s -> 323.33s]  don't hold any excess reserves. But again, when you are focused on the required reserve ratio, you're focused on maximums, and you are assuming they're not holding any excess reserves. Because remember, when banks choose to hold,
+[323.33s -> 336.85s]  excess reserves. We're not going to get near the money expansion as we could be or as we could get if banks didn't hold any excess reserves and only held the reserves that they were required to do so.
+[336.85s -> 339.22s]  Again, the reserve ratio, it's about what's actually
+[339.22s -> 353.52s]  happening in banks. It looks at not just the required reserves, but also the excess reserves banks are choosing to hold on to. The required reserve ratio is all about the potential money expansion, bank lending expansion, demand deposit expansion.
+[353.52s -> 365.87s]  maximum, and it only looks at the reserves that a bank is required to hold on to. When you do 1 over the required reserve ratio, you'll almost always get a number bigger than 1 over the reserve ratio.
+[365.87s -> 374.67s]  at least if banks are choosing to hold any excess reserves. I hope that made sense to you, and I hope it wasn't too long of a video. We'll see you in the next video.

VideoMMMU_ASR_large/Business/validation_Economics_11.mp4.txt

@@ -0,0 +1,35 @@
+[0.00s -> 13.09s]  In this video, we're going to think about the economic profit of a monopoly, of a monopoly firm. And to do that, we're gonna draw our standard price and quantity axes.
+[13.09s -> 22.43s]  So that's quantity. And this is price. And this is going to, of course, be in dollars.
+[22.43s -> 36.72s]  we can first think about the demand for this monopoly firm's product. And the demand curve would look similar to other demand curves that we've seen multiple times, that at a high price, people wouldn't want a lot, wouldn't be demanding a lot, and then at a lower price, or as price goes lower,
+[36.72s -> 44.40s]  people are going to demand a higher and higher quantity, or the market will demand a higher and higher quantity. So that might be the demand curve. Now what's interesting about
+[44.40s -> 53.41s]  Any imperfectly competitive firm, in the extreme case is a monopoly, is what the marginal revenue curve looks like given this demand curve. In a
+[53.41s -> 61.50s]  perfectly competitive firm, the marginal revenue curve is equal to the demand curve, and in that situation, it's actually a horizontal line.
+[61.50s -> 75.95s]  But here, because when the monopoly firm reduces price, it doesn't just reduce it on that incremental unit. It would be typical that it would have to reduce its price on all of the units, and we've studied this in other videos. You have a marginal revenue curve that would go
+[75.95s -> 84.78s]  go down faster than the demand curve. It would look something like this. And if this is unfamiliar to you, I encourage you to watch some of those videos that go into depth why this is happening.
+[84.78s -> 99.71s]  So it's a monopoly, or actually any imperfectly competitive firm, its marginal revenue curve will go down faster than the demand curve. So what would be a rational quantity for this firm to produce? Well, to think about that, we have to think about its marginal cost curve.
+[99.71s -> 114.16s]  So it's marginal cost curve, the typical way we often think about it is, at first you get some economies of scale, but then you start having coordination costs and maybe some diseconomies of scale, your inputs start getting more expensive, and so your marginal cost curve might look something like this.
+[114.16s -> 117.87s]  Something like that. And the rational quantity produces.
+[117.87s -> 131.36s]  As long as your incremental revenue for every unit is higher than your incremental cost for every unit, you would want to produce more and more and more and more until the point that your marginal cost is equal to your marginal revenue.
+[131.36s -> 134.34s]  And so the rational quantity to produce right over here,
+[134.34s -> 148.24s]  would be right over there. I'll do that Q. I could call that Q for the firm. I could also call that Q sub M because we're dealing a situation where the firm is, at least from the producer side, it is the market. It is the only producer. It's a monopoly.
+[148.24s -> 161.58s]  But what's the price here? Well, to know that, we just have to look at the demand curve. At this quantity, the price is right over here. So the price is right over here. Once again, we could call that the market price.
+[161.58s -> 165.42s]  And so something interesting has happened here for the Monopoly firm.
+[165.42s -> 176.61s]  In a perfectly competitive firm, where the marginal cost and demand curves intersect, that's what dictated the demand, because the demand curve and the marginal revenue curve were the same.
+[176.61s -> 184.02s]  But here, we are now producing a quantity less than that. We're producing a quantity where price
+[184.02s -> 198.32s]  is greater than marginal cost. You can see it right over there. At this quantity, price is greater than marginal cost. And so you can view this difference right over here as kind of a markup that is possible for a monopoly firm to do.
+[198.32s -> 206.54s]  that would not be possible with a perfectly competitive firm. And this also introduces an idea of deadweight loss. Because at least in theory,
+[206.54s -> 220.82s]  at a higher quantity, people were willing to pay more than the marginal cost. So you would think that there is some type of a benefit that the market as a whole could gain from that incremental unit, or those incremental units, and then even some more incremental units.
+[220.82s -> 233.04s]  like theirs to gain, but because of the, what is rational for this monopoly firm, and there's insurmountable barriers for entry for other people to enter, this is not going to be captured until you have this dead weight loss.
+[233.10s -> 247.70s]  Now, an interesting question, and this is where I started off is, is well, what would be the economic profit for this monopoly firm? And to think about that, we have to think about the average total cost curve. And so the average total cost, I'll draw a typical average total cost.
+[247.70s -> 259.38s]  it might look something like this. While marginal cost is below the average total cost, the average total cost will
+[259.38s -> 271.46s]  trend downwards. And as soon as marginal cost is higher than average total cost, well now, of course, average total cost is going to start trending upwards. So marginal cost intersects the average total cost curve.
+[271.46s -> 284.00s]  at the minimum point right over there. And so, based on this average total cost curve, it looks like this monopoly firm is earning an economic profit, because at that quantity, this is the price per unit it's getting.
+[284.00s -> 292.34s]  This is the average cost per unit. So on average per unit, it's getting this height. It's getting, it's getting.
+[292.34s -> 306.80s]  it's getting this difference right over here. And then if you were to multiply it times the number of units, well that's going to give you its economic profit. So you could view the economic profit in this situation as being this shaded area of this rectangle.
+[306.80s -> 310.82s]  rectangle. So I'll leave you there. The big thing to appreciate is when we're dealing with
+[310.82s -> 323.63s]  in an extreme form of a monopoly, your marginal revenue curve is no longer your demand curve, and your marginal revenue curve is downward sloping like this. It's not the flat curve that we saw with the perfect competition.
+[323.63s -> 330.10s]  And because of that, your marginal cost is going to intersect marginal revenue at a
+[330.10s -> 344.34s]  where price is greater than marginal cost, which introduces deadweight loss in the market, and the way to think about the economic profit is to compare what that price in the market is of that quantity to the average total cost.
+[344.34s -> 345.90s]  at that quantity.
+[345.90s -> 360.27s]  And what's also interesting about this monopoly firm is because of the barriers to entry, we talked about in the long run with perfect competition, if there's economic profit going on, more entrants would enter into the market. But that's not going to happen in a monopoly because the barriers to entry
+[360.27s -> 372.12s]  are so high. So this monopoly is sitting pretty. It's going to be able to keep earning this type of economic profit unless something dramatically changes in the market somehow.

VideoMMMU_ASR_large/Business/validation_Economics_14.mp4.txt

@@ -0,0 +1,33 @@
+[2.06s -> 15.09s]  What we're going to do in this video is think about all of the different ways that a supply curve or a demand curve can shift. And that's why we actually have eight versions of the exact same diagram.
+[15.09s -> 29.36s]  Each of them is showing where we are right now, let's say in a given region, in the ice cream market. It's important to title your graphs, especially if you were taking some type of a standardized exam like an AP exam. And in the vertical axis,
+[29.36s -> 43.57s]  we have P representing price, and then the horizontal axis, Q, representing quantity. We have our upward sloping supply curve. I'm calling this S1, just as kind of our starting point. And then we have our downward sloping demand curve, D1.
+[43.57s -> 47.86s]  and where they intersect, that gives us our equilibrium price.
+[47.86s -> 62.16s]  P1, and our equilibrium quantity, Q1. And once again, if you were taking some type of a standardized test, it's important that you label all of these things, including P1 and Q1, and show this dotted line where it intersects the horizontal axis is Q1, and where it
+[62.16s -> 76.77s]  intersects the vertical axis is P1. Now with that out of the way, let's think about what happens to the equilibrium price and the equilibrium quantity given different shifts in the supply or the demand curve or both of them.
+[76.77s -> 83.87s]  So in this first scenario, let's imagine that all of a sudden a major ice cream
+[83.87s -> 98.27s]  producer enters into the market. So here we're going to, this first one, we're gonna think about a situation where the supply goes up. So one way to think about it is, at any given price, people are willing to supply
+[98.27s -> 109.44s]  more quantity. So here we would have our supply curve shift to the right. I'll call this S2 right over here.
+[109.44s -> 116.21s]  It's shifting to the right and down. And so given this, what happens to our equilibrium price and our equilibrium quantity?
+[116.91s -> 131.36s]  Well, you see it right over here. If I draw a dotted line, we see our equilibrium price P2 is lower and our equilibrium quantity Q2, Q2 is.
+[131.36s -> 144.10s]  Once again, assuming that we have a downward sloping demand curve like this, which is what you would typically see. And so in this case, let me just write it here, we have our quantity.
+[144.10s -> 157.10s]  or actually let me write it this way. We have our price goes down and our quantity goes up. Alright, now let's do this example and let's imagine the other way.
+[157.10s -> 169.71s]  Let's imagine in this scenario our supply goes down. What is going to happen to this graph? In particular, what's going to happen to our equilibrium price and our equilibrium quantity?
+[170.38s -> 181.62s]  Well, in this situation, for a given price, people are willing to supply less. That's how I like to think about it. So we would have a shift to the left and
+[181.62s -> 194.19s]  And so we could call this supply curve two right over here. And then what is our equilibrium point? It's right over there. It is right over there. And so...
+[194.19s -> 205.01s]  This would be our new price. It has gone up. And this would be our new quantity. It has gone down. So price has gone up and quantity has gone down.
+[205.01s -> 213.17s]  And once again, in either of these scenarios, hopefully this feels a little bit like common sense. If you have a supplier enter into the market
+[213.17s -> 221.86s]  there's gonna be quantity might go up and there's more competition amongst the suppliers and so the price would go down. Here,
+[221.86s -> 236.14s]  where the supply goes down, maybe some of the ice cream stores close down. Well now, the quantity will go down, there's just less people supplying, but the price goes up. For the ice cream that's there, the equilibrium price is going to be higher.
+[236.14s -> 246.91s]  Now let's do the same thing with the demand curve. Let's think about a situation where, first, let's think about a scenario where demand goes up.
+[246.91s -> 253.09s]  Demand goes up. What is going to happen in this world?
+[253.09s -> 267.34s]  Well, demand might go up because maybe there's some type of report that ice cream is much healthier for you than expected, and so at a given price, people are willing to demand a higher quantity.
+[267.34s -> 280.24s]  So for example, at that price, people would demand a higher quantity, and so we would have a shift to the right and up. Let's call this D2 right over here. And this is our new equilibrium point. And then notice.
+[280.24s -> 290.70s]  Notice what has just happened here. At our new equilibrium point, this is Q2, and then this right over here is
+[290.70s -> 301.41s]  This right over here is P2, our new price, our new equilibrium price and our new equilibrium quantity. In this situation where demand goes up, both price and...
+[301.41s -> 309.42s]  both price and quantity are going to go up, assuming we have this upward sloping supply curve again.
+[309.42s -> 323.33s]  And once again, that makes sense. More people just wanna buy ice cream. The total, the supply curve dynamics have not changed, so we're gonna move along that supply curve to the right and up. So both price and quantity go up.
+[323.33s -> 332.11s]  Well, if demand goes down, you could imagine the opposite is going to happen. So here, if we have
+[332.11s -> 345.84s]  demand goes down, let's say a big study comes out that ice cream is even unhealthier than we originally thought, well then at a given price people are going to want, they're going to demand less ice cream.
+[345.84s -> 359.26s]  And so our demand curve would shift to the left and down. So we'll call this D2 right over here. And then we can see our equilibrium price and quantity. So let's show that new equilibrium price.
+[359.26s -> 372.45s]  is P2 right over here, and then our new equilibrium quantity is Q2. And notice, both price and quantity go down. People just don't wanna buy ice cream as much because they think it's unhealthy now, so price.
+[372.45s -> 375.09s]  goes down and quantity goes down.

VideoMMMU_ASR_large/Business/validation_Economics_2.mp4.txt

@@ -0,0 +1,41 @@
+[0.53s -> 14.72s]  Hi guys, in this video let's consider and discuss price controls to solve market failure. We're looking at minimum prices, i.e. price floors, and maximum prices, i.e. price ceilings here. Let's focus on a minimum price first, or a price floor.
+[14.72s -> 22.16s]  This will be used to discourage the consumption of demerit goods, i.e. whether there are negative externalities in consumption.
+[22.16s -> 33.66s]  So I'll take a context here of alcoholic drinks. Scotland have imposed a minimum price on alcohol. We see one in Canada as well. So good context to apply here. And the idea is in the free market of P1 and Q1.
+[33.66s -> 46.46s]  There'll be an overconsumption and an overproduction of alcoholic drinks here. So if I'm posting a minimum price above equilibrium, a floor price, which the price can't go below, we will contract demand. You can see that along here.
+[46.46s -> 57.78s]  consumption will be discouraged, quantity in the market will fall from Q1 to Q star, the socially optimum level of output. That's the idea. By doing so, the X-anity will be internalized here.
+[57.78s -> 72.08s]  we will solve the overconsumption, overproduction issues, we'll get to allocative efficiency, and thus welfare will be maximized in the market. That's the intention. That's what the idea of the minimum price is. But there are many issues with imposing this minimum price, especially on alcohol.
+[72.08s -> 84.64s]  We can argue that there is price inelastic demand here. So when the price goes up, we're not questioning that demand will fall, we're questioning how much will it fall. If there is price inelastic demand, the fall in QD,
+[84.64s -> 94.99s]  will be proportionally less than the increase in price and therefore we might not see a fall in quantity enough to fully solve the market failure. We'll stop here maybe instead of getting the Q star.
+[94.99s -> 108.50s]  Minimum prices are aggressive. We often use that phrase only for indirect taxation but we can use it here as well even though it's not a tax. It certainly will burden the poor and therefore could widen income inequality in society where the government lose a key.
+[108.50s -> 120.02s]  macro objective. That's not the idea of this policy, but it's very, very likely to happen given that it's regressive. It will take a greater proportion of the income of the poor than it will of the rich here, burning the poor.
+[120.37s -> 123.74s]  Individuals always will find alternative supplies if they are
+[123.74s -> 135.47s]  suffering because of a higher price and they really want to buy alcoholic drinks still, they could well find alternative supplies in the black market. That is dangerous for them. Who knows about the quality of the good that they're buying in the black market.
+[135.47s -> 149.87s]  More, they might find alternative supplies in the form of much cheaper, worse for them alcoholic drinks. Again, not really solving the market failure, potentially making the market failure worse. They may smuggle from abroad. I mean, if it's Scotland here, it's not really smuggling, but it's going to England and buying booze from England.
+[149.87s -> 158.74s]  England instead of bringing it back. That's not the intention of the policy but very likely to happen. That could certainly lead to government failure. The other problem with black market activity
+[158.74s -> 166.54s]  that tax revenue could well be lost here. They're buying it from illegal sources here and the government loses out there as well. So very much...
+[166.54s -> 180.91s]  likely to see black market in terms of supply and potential source of government failure there. We can also see unintended consequences maybe on producers. So if the minimum price is set really high, we'll get to that now, it's set really high and it's not internalizing the XRT, it's going...
+[180.91s -> 181.78s]  than that.
+[181.78s -> 196.14s]  There could be an impact on firms here who may suffer. They may leave the country. They may shut down. There might be unemployment caused here. Again, unintended consequences linking to government failure. But good evaluation. If demand is price and elastic, producers will actually see an increase in their...
+[196.14s -> 203.52s]  revenue here they will not be punished they will not suffer they'll actually gain here so that's eva but if the minimum price is set too high
+[203.52s -> 215.70s]  is set above the level whereby quantity needs to reduce to solve the market failure, then these two issues in particular become very severe guaranteed government failure. If it's set too low, then
+[215.70s -> 222.62s]  quantity in the market may not reduce to the socially optimum level. We may not be internalizing the externality perfectly at all.
+[222.62s -> 237.04s]  Just bear in mind guys, one thing we can't really talk about here is the notion of an excess supply. That's normally something we talk about for a minimum price. We can't talk about it here because producers won't produce extra thinking the government is going to buy up the excess. They know that that's not going to happen.
+[237.04s -> 251.34s]  So they're going to try and produce at the level of demand in the market, which is Q-star here. Let's now talk about maximum prices. Maximum prices or price ceilings are used in markets where the price in the market is deemed too high by the government.
+[251.34s -> 262.32s]  So by imposing a minimum price or a price ceiling below that equilibrium price, we are promoting equity, we're encouraging more consumption of essential goods or services, like rented accommodation.
+[262.32s -> 276.59s]  Cities like New York and in Berlin, the most common examples of rent control, we see a maximum price to encourage more consumption, to promote more equity when it comes to the market for rented accommodation. Of course, people need to have accommodation, right? That's the idea.
+[276.59s -> 284.86s]  So you can see on the diagram a reduction in price here. So prices are lower, there is an extension of demand. The idea is obviously more consumption, more equity as a result.
+[284.86s -> 292.40s]  and thus we solve that income inequality kind of prevalent market failure where price exclusion really shouldn't exist in the government's eyes.
+[292.40s -> 301.94s]  But there are many issues with imposing maximum prices like this. It's not just rented accommodation, guys. We also see this on basic food items in Venezuela for the same ideas.
+[301.94s -> 315.34s]  The biggest problem is that a shortage will be created. You can see that on the diagram. Yes, there is an extension of demand, but there is a contraction of supply here. The government creates this excess demand, this shortage, this inefficiency in the market.
+[315.38s -> 323.95s]  So those who are able to find accommodation at the lower price of PMAX, great for them, no problems for them at all. But what about this chunk of people?
+[323.95s -> 336.03s]  The people who are willing and able to buy rented accommodation at that lower price but are not getting the supply. The people within the excess demand. What happens to them? They don't get the accommodation. That, you can argue, is a pure government failure.
+[336.03s -> 348.86s]  Where are they likely to go, therefore? Well, the black market. Of course, landlords are going to be willing to offer rented accommodation at a slightly higher price, of course, than PMAX. And there are going to be many of those within the excess demand who are going to be happy to pay that.
+[348.86s -> 362.03s]  We create a black market and that has a very natural consequence here of the shortage created by the government. That's dangerous for consumers here because they're going to be exploited probably by landlords in the black market. Who knows the prices they can offer? Who knows the quality?
+[362.03s -> 373.95s]  of the accommodation that they can offer here. That is a government creative problem, the black market. Furthermore, the contraction of supply is bad news because we are likely to see more producers building
+[373.95s -> 386.82s]  sky-rise luxury apartments instead of the cheaper rented accommodation knowing that the price is too low that's not very good that's only going to drive out more and more and more the lower income households in a given city furthermore if the prices are lower
+[386.82s -> 399.50s]  The quality offered by landlords here is going to be low as well. So all of these issues are as a result of having a price below the equilibrium price ceiling here. Black market activity, pure government failure right here.
+[399.50s -> 412.08s]  Furthermore, there needs to be enforcement of this. Who is going out and checking that landlords aren't charging a price beyond PMAX? In Berlin, that's a big issue. So you can always question the enforcement. But you can question whether the maximum price is going to be set at the right level.
+[412.08s -> 423.15s]  If it's going to be set too low, there's going to be a massive excess demand here. If it's going to be set too high, so too close to equilibrium, then we're not going to see the promotion of equity and greater consumption that is desired.
+[423.38s -> 437.97s]  And we can also say there is cost involved. If governments are not happy with the shortage, they want to try and increase supply to get it to equal QD here, well that could be very costly. They might subsidize private animals, big cost involved. They might produce their own housing instead.
+[437.97s -> 452.18s]  their own housing very costly as well big opportunity cost a cost that's dealing with their own problems the inefficiency that they've caused you can argue large government failure here at the end as well so not as simple the intention is simple but many issues here with both minimum prices and
+[452.18s -> 456.33s]  prices thank you so much for watching guys I'll see you all in the next video

VideoMMMU_ASR_large/Business/validation_Economics_3.mp4.txt

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+[0.78s -> 11.02s]  Principles of Macroeconomics Chapter 10 The International Trade and Capital Flows Professor Wagner
+[13.04s -> 26.50s]  What's going to be covered in this chapter are some rather interesting things considering what's going on with tariffs and trade relations across the globe, in particular U.S. and China. They're going to talk about
+[26.50s -> 36.03s]  Trade balances, also in a historical and international context. Trade balances the flows of financial capital.
+[36.03s -> 46.45s]  national saving, investment identity, pros and cons of trade deficits and surpluses and the difference between level of trade and trade balance.
+[49.30s -> 56.24s]  You know money is the the currency of exchange although
+[56.24s -> 70.21s]  it may come in many different currencies it's all backed by governments it's all created by fiat which means it's created and printed on the basis that the government will always be able to back their debt now that's
+[70.21s -> 77.87s]  true for more for some than let's say others uh that's a discussion we'll ensue on a little bit later
+[78.54s -> 90.35s]  A trade balance is simply the difference between a nation's exports and imports. So you can say there's a trade imbalance, you know, if you feel like the
+[90.35s -> 101.10s]  the pretty quote quote aspect of it is the trade isn't yeah the trade is not really equal you're importing much more than you're exporting or vice versa
+[101.10s -> 111.50s]  In high-income economies, U.S. goods comprise less than half the country's total production, while services comprise more than half.
+[113.23s -> 126.85s]  Merchandise trade balance versus current account balance. And so these are three definitions. So the merchandise trade balance, balance of trade looking only at the exchange of goods.
+[126.85s -> 140.48s]  current account balance a broad measure of balance of trade that includes trade goods and services and international flows of income foreign aid and then there's unilateral transfers
+[140.48s -> 148.66s]  payments you know like government private charities individuals will send abroad without any expectation of a return
+[151.47s -> 165.31s]  Here we have a couple of graphs. The first graph A shows the current trade account balance versus the total merchandise trade balance from 1960 to 2013.
+[165.31s -> 176.38s]  and if the lines are above zero dollars the us was running a positive trade balance and current balance if it fell below zero
+[176.38s -> 186.94s]  just the opposite we were running a deficit and a deficit in the current account balance whereupon graph b shows the same items
+[186.94s -> 194.70s]  trade balance and current account balance in the relationship to the size of the U.S. economy or GDP. So there's a comparative advantage.
+[196.66s -> 206.37s]  a measure of economies, globalization, so it's a function of the exports of goods and services as a percentage of GDP.
+[206.37s -> 214.06s]  uh the dollar value of exports divided by the dollar value of a country's gdp so this is a ratio
+[214.90s -> 225.36s]  Trade balances in the flow of financial capital. So we can get a definition of financial capital being the international flows of money to facilitate trade and investment.
+[225.36s -> 238.40s]  uh the connection between the trade balances international flows of capital uh is so that economists sometimes describe the balance of trade as the balance of payments
+[238.40s -> 247.92s]  Each category of the current account balance involves a corresponding flow of payments between a given country and the rest of the world economy.
+[249.23s -> 262.51s]  Here we have a kind of a cyclical graph where you have exports, investments, imports, and investment income paid. You have the home country. You have
+[262.51s -> 273.15s]  the rest of the world so this is you know your country in relationship to global trade and so each element of the current account balance involves a flow of payment
+[273.15s -> 284.32s]  between countries top line shows exports of goods and services you know leaving the home country second line shows money receives for those exports third lines
+[284.32s -> 294.48s]  it shows the imports that that home country receives from others and then the last line shows the payments that the home country sent abroad for an exchange
+[296.05s -> 309.71s]  The balance of trade is the balance of payments. A current account deficit means the country is a net borrower. Conversely, a positive current balance means they are a lender.
+[309.71s -> 321.55s]  Inflow, it is possible to be both. An inflow or outflow of foreign capital does not necessarily refer to it.
+[321.55s -> 326.96s]  the debt the governments owe to other governments, although government debt may be part of the picture.
+[327.06s -> 341.65s]  These international flows of capital refer to the other ways in which private investors in one country may invest in another country. And this can happen in terms of buying real estate companies or financial investments like stocks or bonds.
+[341.65s -> 346.72s]  Point of note, this is not always a healthy.
+[346.72s -> 357.02s]  exchange depending on what type of relationships people have with the other countries so right now there's a phenomenon on the west coast
+[357.02s -> 361.98s]  in particular where china's buying up real estate up and down the west coast
+[361.98s -> 376.27s]  uh Vancouver Canada and British Columbia is a really great example I was there a couple of years ago lots of really beautiful tall buildings very modern very clean and only to learn that most of those buildings were
+[376.27s -> 385.30s]  empty and that was so that the Chinese could drive up the cost of the rental market in that area so
+[385.30s -> 395.82s]  it's not always a benign exchange and that's something you need to bear in mind sometimes tariffs or even embargoes may have to take place to get things back into shape
+[395.82s -> 408.06s]  Here we have a little formula, probably we'll see it on the test, about national savings, investment identity, total private savings, and public savings, or, and this, that.
+[408.06s -> 420.38s]  instance a government budget surplus that happens every now and then and so you have the supply financial capital equal demand for financial capital so those two things are
+[420.38s -> 433.95s]  Meaning an equilibrium and then you have your formula where you have this the savings by individuals added by either imports or by exports
+[433.95s -> 445.36s]  You also have the individual private sector investment, government spending minus taxes collected. Probably we'll see this on a test once again.
+[445.68s -> 456.21s]  National savings and investment identity continued. We'll go back to our formula. I think a couple notes on the bottom with government is
+[456.21s -> 468.27s]  spending more than it's pulling in the way of taxes they'll demand financial capital so this is what happens with quantitative easing or let's just say simply a shortage of
+[468.27s -> 482.40s]  cash for the government to conduct its business they'll either print more money or do a stimulus package and we've seen a lot of that in recent years so that's something that you should become familiar with
+[482.40s -> 494.85s]  where the opposite if we're collecting more taxes and the government's actually spending uh we could be a supplier of financial capital which means we can use the money for
+[494.85s -> 501.71s]  other means, perhaps leveraging other countries to do our bidding or to give us favorable trade.
+[503.50s -> 514.64s]  And domestic saving and investment determine the trade balance. So they're talking about really the retail investor to a larger extent.
+[514.64s -> 527.65s]  Economists view the balance of trade as a fundamentally macroeconomic phenomenon in the case of a trade deficit, which is something that's constantly spoken of.
+[527.65s -> 532.62s]  with respect to trade with other nations and the trade balance.
+[532.62s -> 544.98s]  uh the national savings and investments can be written as such so you have this formula it's a variant on what we were talking about earlier so the only way that
+[545.10s -> 552.43s]  Domestic investment can exceed domestic savings as capital flowing into a country from abroad.
+[555.92s -> 570.40s]  domestic saving and investment okay that's determining the trade balance in continuation so in case of a surplus uh you have the formula down there domestic savings both private and public is higher than the
+[570.40s -> 581.49s]  domestic investment, meaning that money's basically just sitting in the bank. Extra financial capital would be invested abroad.
+[584.27s -> 593.06s]  National savings and investment identity also provides a framework for thinking about what will cause trade deficits to rise or fall.
+[593.06s -> 607.10s]  this is a little bit predictive based on the behavior of several factors once again we have our equation and so this is a case where you have a table where you have if domestic investment goes up
+[607.10s -> 619.25s]  And the savings doesn't change. The difference between taxes and government spending does not change.
+[619.25s -> 630.99s]  Minus X must drive. So this is a ceteris paribus situation where they freeze certain vegetables. I mean variables and
+[630.99s -> 635.98s]  Anyways, you'll see what yeah, you probably need to see this on the test. I'd refer this
+[639.34s -> 652.82s]  In the short run, when an economy is in a recession around the upswing, these things influence balances. Recession tends to make trade deficits smaller or a trade
+[652.82s -> 664.50s]  surplus larger while a period of strong growth tends to make the deficits larger and those trade surplus smaller so they kind of behave inversely of each other
+[668.78s -> 679.71s]  Okay, to the pros and cons of deficits and surpluses, really there's no economic merit or advantage of just being on the sidelines.
+[679.71s -> 687.81s]  It does make sense for a national economy to borrow from abroad as long as it puts money to good use.
+[687.81s -> 694.93s]  and tends to raise the nation's economic growth over time a couple of examples and
+[694.93s -> 705.66s]  you know, the mid-1800s industrial revolution in the United States and South Korea in the 70s who have greatly benefited from this.
+[705.66s -> 717.17s]  whereas not everybody necessarily does this with the right goals in mind or they say they're going to do something or want to do something different so they get the you know results
+[717.17s -> 730.82s]  mexico brazil and a lot of africa had seen in the 70s and 80s most of these countries are pretty dilapidated from an economic standpoint they have high inflation they have
+[730.82s -> 741.14s]  you know income inequality that's not even on par with what we're doing so they have they have issues because they're not making prudent choices
+[741.46s -> 751.47s]  So the difference between the level of trade and the trade balance, the level of trade tells how much production it exports. Okay, so the separate term and the...
+[751.47s -> 765.07s]  Balance of trade and that's measured as a matter of exports out of the GDP. So it's a it's a ratio Three factors that influence the nation's level of trade is the size of its economy its geography
+[765.07s -> 779.41s]  and its history so what would you think about the following countries having a low or high level of trade let's talk about you can talk about sweden and sweden amazingly has
+[779.41s -> 791.68s]  Quite a high level of trade. You think of Volvo or you think of Ikea and a number of other things that, you know, really are global brands.
+[791.68s -> 802.48s]  do have quite a bit of participation in spite of their their size and really anonymity because not everybody thinks of sweden as a as a
+[802.48s -> 815.34s]  economic powerhouse of any kind, but they are a developed nation, United States. We have a very high level of trade and Japan most definitely does too.
+[816.62s -> 829.30s]  So some final takeaways about trade imbalances. Trade deficits could be good or a bad sign for our economy and surpluses could be a good or bad sign. So there's no...
+[829.30s -> 843.33s]  uh imperative as to whether it's going to be one direction or another there are other influencing factors that may impact its benefits or or negatives on any given economy
+[843.33s -> 850.16s]  uh trade balance is zero which means we're hit a point of equilibrium where we're neither a borrower or a lender
+[850.16s -> 859.73s]  it could also be a good or bad sign so there's really a lot of ambiguity about this stuff that's the thing you need to keep in mind um
+[859.73s -> 871.14s]  You know, whether a particular country is borrowing or lending in the particular economic conditions of that country makes sense. So basically, you know.
+[871.14s -> 883.06s]  a prudent government or a prudent central bank would take a look at the current economic policy, the productivity of the country.
+[883.06s -> 896.59s]  and try to adjust their policy to either promote growth or any number of factors and these will be spoken of later this concludes chapter 10.

VideoMMMU_ASR_large/Business/validation_Economics_5.mp4.txt

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+[3.06s -> 16.34s]  How you doing AP Econ students? It's Mr. Clifford. It's time to learn the most important graph in all of macroeconomics. Aggregate demand and aggregate supply. You already learned about demand and supply in regular markets. Now it's time to look at the entire economy working at aggregates.
+[16.34s -> 30.77s]  Okay, first one is aggregate demand. Aggregate demand, just like regular demand, is downward sloping. Why? Because when the price level is high, the quantity demanded in our entire economy is not going to be very high, right? Price level is the general prices of things.
+[30.77s -> 44.61s]  level was lower, then more people would want to buy stuff. Now, aggregate demand is actually made up of the GDP, the four components of GDP, C plus I plus G plus XN. The next step is aggregate supply.
+[44.61s -> 57.82s]  Agri-supply, as you can expect, is going to be upward sloping. But, pay attention, this is the short-run agri-supply. When price levels go up, more firms will produce more. Done. You've seen that before. But, pay attention.
+[57.82s -> 69.23s]  In the short run, the prices go up, the wages of workers and the price of resources don't go up in the short run. And so when the price goes up, firms will produce more because they're making more profit.
+[69.23s -> 81.39s]  But in the long run, when price goes up by a certain amount, let's say it doubles, the wages of the workers will also increase in the long run. And so that leads to another graph, something called the long run aggregate supply.
+[81.39s -> 95.14s]  I'll put it right here. The reason why it's vertical, the long run agri-supply is when the price level goes up, the actual amount produced is not going to increase because wages go up by the same amount. That's the concept. The long run agri-supply is perfectly vertical.
+[95.14s -> 102.69s]  Okay, now the way I drew this, I drew this at quantity, full, and plent. What does that mean? Well, it means that the long-winded average supply is right here.
+[102.69s -> 114.08s]  And the aggregate demand supply in the short run is right here, and so we're at full employment output. Our economy is running at full employment. Let's show you visually why the long-run aggregate supply curve is vertical.
+[114.08s -> 125.74s]  Let's assume right now we're here at point A where supply and aggregate demand meet. And now there's an increase in consumer spending. Consumers want more stuff. Aggregate demand shifts to the right.
+[125.74s -> 138.32s]  Right over here, now we have a higher price level and a higher quantity. Well, now we have something called inflationary gap. Our current GDP is beyond the full employment GDP. And now that's going to put upward pressure on prices.
+[138.32s -> 152.27s]  If there's more people who want stuff, we get demand pull inflation, and that's going to lead to upper pressure on prices and wages. And in the long run, those wages will go up by the same amount that prices went up. When that happens, that causes aggregate supply.
+[152.27s -> 166.37s]  to shift to the left. Agri-supply now would shift to the left because wages went up and prices for resources went up, leading to a new equilibrium, which is at B, right back in the long run. Now, it also goes the other direction.
+[166.37s -> 179.17s]  Let's say, for example, we're in a recessionary gap. Aggregate demand falls. That puts pressure on, downward pressure on prices, decreasing price level and decreasing the quantity. Now that puts us here. Now, in theory...
+[179.17s -> 191.26s]  when the price level falls and wages are flexible, so wages eventually fall, and if wages fall and resource prices fall, that would actually increase aggregate supply, shifting aggregate supply to the right.
+[191.26s -> 202.99s]  leading to a new equilibrium, right? We started at A, we ended at B. Where is it? It's the long run. That's why the long run X supply is vertical. Make sure you know that. Aggregate demand, X supply, long run X supply. Until next time.

VideoMMMU_ASR_large/Business/validation_Economics_6.mp4.txt

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+[0.00s -> 1.87s]  We are now going to discuss
+[1.87s -> 16.21s]  price elasticity of demand, which sounds like a very fancy concept, but really it's a way for economists to sense how sensitive is quantity to change in prices. And in this video, we're gonna denote it as a
+[16.21s -> 25.87s]  a capital E, so price elasticity of demand. And the easy way to think about it is it is your percent.
+[25.87s -> 36.03s]  change in, I'll use the Greek letter delta shorthand for change in your percent, change in quantity over your percent change in price.
+[36.03s -> 48.67s]  And so you might say, wait, how does this relate to the everyday idea of elasticity? Well, imagine two bands. So let's imagine an inelastic band, inelastic.
+[48.67s -> 61.55s]  right over here, and let's imagine an elastic band right over here. So in an inelastic band, if we apply some amount of force, you're not going to be able to stretch it much. It might stretch a little bit.
+[61.55s -> 75.15s]  While an elastic band, if you apply that same amount of force, you might be able to stretch it a lot more. And so the analogy here is we're not using force, but we're saying how much does quantity stretch for a given amount of
+[75.15s -> 87.02s]  And so something where the quantity changes a lot for a given price change would be very elastic. So this, the magnitude of this will be larger. And if the
+[87.02s -> 95.34s]  If percent change in quantity doesn't change a lot for a given percent change in price, well then we're dealing with an inelastic price elasticity of demand.
+[95.34s -> 108.42s]  And we'll be able to internalize these more as we work through the numbers. And actually let's do that for this demand schedule that we have right over here and it's visualized as our demand curve. In the vertical axis we have price of
+[108.42s -> 121.09s]  burgers, and then in our horizontal axis we have quantity in terms of burgers per hour. And so let's just use this definition of price elasticity of demand to calculate it across different
+[121.09s -> 129.60s]  points on our demand curve. So let me make a new column here. So price elasticity of demand.
+[129.60s -> 137.63s]  And the way I'm gonna do it is really the simplest method for calculating this. In other videos, we can go into more in-depth methods like the
+[137.63s -> 148.54s]  midpoint method, and I'll show you the weakness in what we're doing right here, but for the sake of, say, an AP economics, microeconomics course, this would be sufficient. So,
+[148.54s -> 162.38s]  Let's think about our price elasticity of demand as we go from point A to point B. Well remember, that's just going to be our percent change in quantity over our percent change in price.
+[162.38s -> 175.06s]  So what is our percent change in quantity? Well, we're starting at a quantity of two, so put that in our denominator, and we're going from two to four.
+[175.06s -> 187.87s]  So we are adding two. So we have two over two. We could multiply that times 100% if we like. So this would give us, we have 100% change in quantity over.
+[187.87s -> 198.48s]  Now what was the corresponding change in price, percent change in price? So our corresponding percent change in price, our initial price is nine.
+[199.38s -> 212.69s]  and we go from nine to eight, so we're going down by one, and then we multiply that times 100%. So this is going to be about a negative 11% change in price.
+[212.69s -> 226.11s]  And this math is reasonably straightforward because the hundred percents cancel out. This is just a one. One over negative 1 9th is just going to be equal to negative nine.
+[226.11s -> 231.62s]  So you have a negative nine price elasticity of demand.
+[231.62s -> 245.10s]  So before I interpret that more, let's look at the price elasticity of demand at other points, or starting from other points to other points on this curve. So let's think about it going from, actually let's think about it going from E to F.
+[245.10s -> 257.47s]  So as we go from E to F, we're going to do the same exact exercise. What is our percent change in quantity? Well, our initial quantity is 16, and we're going from 16 to 18.
+[257.47s -> 270.96s]  So we have a change of two, so two over 16 times 100%. That is our percent change in quantity. And what is our percent change in price? Well, our initial price is two.
+[271.50s -> 280.82s]  And we're going from two to one. So we have a price change of negative one times 100%.
+[280.82s -> 294.77s]  And so what you see here is this is 1 eighth times 100%. This would be 12.5% up here. So this is 12.5% up there. And then this over here is going to be negative 50%.
+[294.96s -> 304.69s]  So when price went down by 50%, you had a 12.5% increase in quantity.
+[304.69s -> 316.88s]  12.5% is 1 4th of 50%, so this is going to give us a price elasticity of demand of negative 0.25.
+[316.88s -> 322.51s]  So there's a couple of interesting things that you might already be realizing. One is
+[322.51s -> 336.82s]  Even though our demand curve right over here is a line, it actually has a constant slope, you see that the price elasticity of demand changes depending on different parts of the curve. Now the reason why this is, is really
+[336.82s -> 348.27s]  it just boils down to math. When we were going from A to B, our initial prices were relatively high. So even though you had a price decrease of one, it was from an initial price of nine.
+[348.27s -> 360.19s]  so your percentage change in price looked fairly low, while your percentage change in quantity was high, because you're going from a low quantity of two, and you're adding two to it, so you had 100% change in quantity.
+[360.19s -> 370.70s]  When you go to the other end of our curve, and you go from E to F, it's the other way around. Your price starting point is low, so your percent change in price when you
+[370.70s -> 383.62s]  decrease price by one, it looks like a fairly large magnitude, while your percent change in quantity when you go from E to F, because you are already at a quantity of 16, adding two to that is not that large of a percentage.
+[383.62s -> 395.31s]  Now another thing you might be appreciating is if we tried to calculate the price elasticity of demand up here on the curve, and instead of going from A to B, if we went from B to A, we would have gotten a different value.
+[395.31s -> 405.95s]  because our initial prices and quantities would have been different. Our initial price we would have put an eight right over here, and our initial quantity we would have put a four over here, and we would have gotten a different value.
+[405.95s -> 419.60s]  And that's one of the negatives of the technique, which is arguably the simplest technique that I just used. There's other techniques like the midpoint technique that can give you a more consistent result whether you're going from A to B or B to A, but I won't cover it just yet.
+[419.60s -> 428.72s]  But let's think now about how to interpret this. And the best way to interpret it is to think about the absolute value of the price elasticity of demand.
+[428.72s -> 442.16s]  So over here, the absolute value of our price elasticity of demand is equal to nine, and then over here, the absolute value of our price elasticity of demand
+[442.16s -> 446.06s]  is equal to 0.25.
+[446.06s -> 459.34s]  And a general rule of thumb is if your absolute value of your price elasticity of demand is less than one, you are dealing with an inelastic, inelastic
+[459.76s -> 471.06s]  and if your price elasticity of demand, the absolute value of it, is greater than one, you're dealing with an elastic situation.
+[471.06s -> 485.28s]  Why does that make sense? Well, in this first scenario, it's saying for a given percentage change in price, you have a smaller percent change in quantity, while here, for a given percent in price,
+[485.28s -> 492.80s]  you're gonna have a larger than that percentage change in your quantity. So once again, it goes back to these rubber band analogies.
+[492.80s -> 506.14s]  So when we're going from A to B, the absolute value of our price elasticity of demand is definitely larger than one. So economists would consider this to be an elastic situation.
+[506.14s -> 519.84s]  While when we go from point E to point F, our price elasticity of demand, or the absolute value of it, is definitely less than one, so this is going to be an inelastic situation.

VideoMMMU_ASR_large/Business/validation_Economics_8.mp4.txt

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+[10.83s -> 24.90s]  Hope you are well. Another interesting topic to work on today. In the last class, we looked at how nominal GDP and real GDP are calculated. We used a simplified model and assumed only four products in the economy.
+[24.90s -> 37.30s]  We're thinking about how hard the calculation would be with large number of products and services that the US produces. It is complicated work and economists working with the US government manage this data and update it frequently.
+[37.55s -> 45.26s]  In today's class, we will talk about another way to calculate GDP. The approach we will introduce today is called the expenditure model.
+[46.58s -> 60.34s]  The expenditure model relies on the assumption that what is produced generates income and therefore spending, or expenditure must have taken place. So instead of calculating the products, calculate the spending.
+[60.78s -> 72.72s]  The expenditure model breaks the economy to four sections and can be presented in this equation. Y equals C plus I plus G plus NX.
+[73.52s -> 83.92s]  This states that the economic output represented by Y is the sum of C, I, G, and an X.
+[84.11s -> 92.59s]  Our goal today is to discuss what these expenditure components are and how they contribute to the GDP. Let's start with C.
+[92.85s -> 101.49s]  C stands for consumption and it reflects all the spending by consumers. In the US, it is normally their largest component of GDP.
+[102.00s -> 116.50s]  In the US, consumption by private individuals accounts for roughly 68% of GDP. This graph shows the share of GDP for personal consumption from 2001 to 2019.
+[116.88s -> 126.32s]  Roughly two-thirds of the US economy is based on consumer spending. This is why we often refer to the US as a consumer economy.
+[127.89s -> 138.58s]  consumer spending can be broken down to three types. Spending on durable goods, spending on non-durable goods, and spending on services.
+[139.34s -> 148.66s]  Durable goods are goods that last long periods of time. Goods like cars, electronics, furniture, appliances are examples of durable goods.
+[148.91s -> 159.44s]  Whereas non-durable goods are goods that need to be replaced in a short period of time usually within three years. Examples are food, clothing, or cosmetics.
+[159.89s -> 173.26s]  services is consumer spending where physical goods are not exchanged usually to pay for someone's advice or assistance this lesson is a good example of a service you are paying for the opportunity to learn from me
+[174.00s -> 188.27s]  Economists interested in the health of the economy will follow overall consumer expenditure, but also will look into consumer spending on durable, non-durable, and services. They are usually interested in spending on durable goods specifically.
+[188.50s -> 196.27s]  Changes in durable goods spending are considered leading indicators of what will happen to the US economy in the future.
+[196.56s -> 204.27s]  When consumers reduce their spending on durable goods, it is a signal that the U.S. economy is heading towards trouble in the future.
+[204.69s -> 212.21s]  This is a graph of quarterly U.S. personal consumption on durable goods from 2006 to 2020.
+[213.10s -> 222.29s]  Spending on durable goods started to fall before the US officially went into recession. We can see a fall in spending on durable goods in the first quarter of 2020.
+[225.84s -> 240.02s]  The next component of GDP in Y equals C plus I plus G plus NX is I or investment. Investment relates to spending by businesses to increase their business activity.
+[240.02s -> 250.85s]  It includes purchases of building, also referred to as capital, or spending on building inventory, or other spending by businesses. In investment,
+[250.85s -> 259.98s]  we also include spending by consumers on new residential housing. That spending does not fall under personal consumption. It is included in investment.
+[261.01s -> 272.85s]  One note to make here in macroeconomics when we say investment, we do not mean purchasing of stocks and bonds. It refers to purchasing of goods for production purposes.
+[273.97s -> 286.42s]  This is private domestic investment expenditure from 2001 to 2020 reported quarterly. You can see that since 2009, there has been an increase in investment spending in the US.
+[286.64s -> 301.26s]  Also, investment fell during the 2008 recession. The next component of GDP is government spending. This is spending by state, local, and federal government on goods and services.
+[301.55s -> 314.22s]  When calculating this number, we exclude transfer payments. Transfer payments are payments to people like Social Security, Medicare, unemployment insurance, welfare programs, and subsidies.
+[314.61s -> 322.19s]  These are examples of transfer payments. They are not included in GDP because they are not payments for goods or services
+[323.12s -> 333.49s]  Government spending as a fraction of GDP in the US in 2020 is about 17%. For an international comparison, let's compare the government share of GDP in Oman.
+[333.84s -> 346.96s]  On a personal note, I am from Oman. I highly recommend a visit to Oman one day. It is a beautiful country and welcoming. If you are into outdoor adventure, Oman should be top on your list.
+[347.44s -> 361.65s]  In Oman, government expenditure accounts for 25% of GDP. The final component of GDP has to do with trade. NX stands for net exports. It is calculated as the difference between exports
+[361.65s -> 376.43s]  and imports exports labeled x are the goods and services that the domestic economy sells internationally and imports labeled m are goods we buy from other countries
+[376.72s -> 390.27s]  We add the spending on exports and subtract out the spending on imports. The reason we subtract imports is because they are already counted in spending by C, I and G.
+[390.27s -> 404.66s]  So we do not want to double count them This calculation has actually caused confusion in markets Seeing that imports have a negative sign in front of it. Some have argued that we can increase GDP by eliminating imports
+[404.66s -> 415.86s]  Mathematically, that looks correct. However, we need to be clear that when we eliminate imports, we are also reducing spending by consumers, businesses and governments.
+[416.59s -> 422.38s]  Being aware of why there is a negative sign in front of imports is important for policies towards trade.
+[423.18s -> 436.54s]  To recap, the GDP in the US economy can be calculated by following the spending in the economy. In this class, we learned that GDP can be calculated by Y equals C plus
+[436.54s -> 451.28s]  I plus G plus X minus M. And we call this the expenditure model. We also have a better idea of what the trends are for each of these components and how they look like in the United States.
+[451.73s -> 461.81s]  we are starting to get a good understanding of GDP and its impact on the health of the economy. Make sure to reach out if you have any questions. See you next class.

VideoMMMU_ASR_large/Business/validation_Finance_11.mp4.txt

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+[0.00s -> 13.46s]  In this video, I'll show you how to calculate the real rate of return. The first thing that I'll do is explain what real rate of return is and why it's important for an investor. And then we'll look at a real-life example where we put this into practice.
+[13.46s -> 22.05s]  So suppose we can invest our money at 10% into an account for one year, but we expect the rate of inflation to be 5%.
+[22.05s -> 33.14s]  At the end of the year, we'll have $110 saved up as a result of our investment, but $100 worth of goods before now cost $105 a year later.
+[33.14s -> 41.82s]  In other words, what you could have purchased for $100 at the beginning of the year, now will be worth $105 at the end of the year.
+[41.82s -> 54.21s]  Therefore, by investing and deferring our purchasing decisions, we really only have 5 extra dollars and not 10. This leads us to ask, in one year, what is the actual purchasing power?
+[54.21s -> 65.78s]  that is the real rate of return for this investment considering inflation. To answer this question, we must calculate the real rate of interest using this formula shown right here.
+[66.06s -> 74.80s]  The value we get for I sub real, which is a percentage, tells us the actual purchasing power after the impact of inflation.
+[74.80s -> 88.30s]  And this is not to be confused as a nominal interest rate used to calculate some future value of a current saving. It's completely different. If you're curious as to how this formula is derived,
+[88.30s -> 98.82s]  A link to a write-up of its derivation is found in the description below. So here's our question. Mark invests at 5.39% annual interest.
+[98.82s -> 113.04s]  However, Mark expects inflation to be 3.1%. What is the real rate of return? Now, these values, if you live in Canada, are true. Some banks do offer 5.39% as of...
+[113.04s -> 126.24s]  2024, and the inflation rate for 2023 was around 3.1%. Using this formula, we'll write down I sub real is equal to
+[126.24s -> 139.63s]  i represents the interest that you earn for your investment, and in this case, it's 5.39. Making that into a non-percentage, it is equal to 0.0539.
+[139.70s -> 149.52s]  R represents the rate of inflation. 3.1% is the same as saying 0.031.
+[151.41s -> 160.14s]  over, again, we have 1 plus 0.031. Let's go ahead and use our calculator for this.
+[161.36s -> 171.47s]  We have in parentheses the expression at the top, which is 0.0539, take away 0.031.
+[171.89s -> 183.73s]  That gets divided by the bottom expression, which is 1 plus 0.031. We end up with the real rate of interest being
+[184.21s -> 190.13s]  0.0222
+[190.42s -> 204.37s]  which, when rounded, is roughly 2.22%. To help you interpret what 2.22% means, it means that Mark is able to purchase 2.22%
+[204.37s -> 209.18s]  more goods at the end of the year than he could at the beginning of the year.
+[209.18s -> 223.20s]  The fact that the nominal rate was greater than the rate of inflation ensures that Mark's investment outpaced the general rise in prices, safeguarding the value of his funds. This is why it's wise to invest your money
+[223.20s -> 234.22s]  earning interest rather than keeping it saved in some stagnant account. If you have any questions regarding this topic, feel free to use the comment section below. Thank you for watching.

VideoMMMU_ASR_large/Business/validation_Finance_12.mp4.txt

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+[0.00s -> 13.62s]  In order to calculate the total return on a stock, let's first walk through an example of a no dividend stock. So we're going to assume that PepsiCo has not paid any dividends over the last five years on their stock.
+[13.62s -> 25.66s]  Our return for this situation is total return equals price at time 1, so time 1 will be when we actually sell the stock, divided by price at time 0, and time 0 is when we purchase the stock.
+[25.66s -> 39.95s]  minus one that'll make it into a percentage form now to just keep this as simple as possible for the first example let's say we purchased the stock here in 2018 when the price was 100 so that will be t equals zero so time equals
+[39.95s -> 48.93s]  zero and then let's say we sold the stock right here in 2021 when the price was $150 so that is
+[48.93s -> 59.47s]  t equals one so our total return over that investment would have been uh 150 divided by 100
+[59.95s -> 64.91s]  minus one, which is just a 50% total return.
+[64.91s -> 79.22s]  Now let's make it a little bit more complicated and realistic and assume that this stock actually pays dividends. So we can use the same, you know, time equals zero. So t equals zero, we purchase the stock when its price is equal to...
+[79.22s -> 87.41s]  100 right there and now let's say that we actually sold it right here so time equals 1 is going to be this
+[87.86s -> 102.10s]  and we'll assume that at that time it may not be exact but we'll say the price was 125 when we actually sold that stock but let's say also that at the end of 2019 right here
+[102.48s -> 114.40s]  This stock paid a dividend of $10 right so at the end of every year PepsiCo pays a $10 dividend. I'm not saying that actually happens, but we'll just roll with it
+[114.40s -> 126.48s]  So then our total return is going to be what we looked at earlier. So it's going to be the price at time 1 divided by the price at time 0.
+[127.22s -> 140.66s]  And that's going to give us what we would actually call the capital gains yield. But now there's another component with the dividend. So with the dividend, we're actually going to have a whole other yield included, which is...
+[140.66s -> 152.45s]  the dividend divided by the initial purchase price of 100 and then we're going to take this entire thing and we will subtract by one so our cap our uh
+[152.45s -> 166.70s]  capital gains yield would actually have been 25% and our dividend yield is going to have been 10% making a total return of 35%.

VideoMMMU_ASR_large/Business/validation_Finance_15.mp4.txt

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+[0.00s -> 14.48s]  In this video, I want to show you how to calculate the IRR using trial and error. So the IRR, which stands for Internal Rate of Return, is the rate of return that would result in an NPV of zero for a project when it's used as a
+[14.48s -> 28.69s]  discount rate for that project so let me show you what i mean by that with an example let's say we have a project with the following cash flows in year zero which is today there's a cash outflow of fifty thousand dollars so to take on this project we have to
+[28.69s -> 42.90s]  pay out $50,000 today but then one year from today we're going to have a cash inflow of $33,000 and then two years from today we're going to have another cash inflow of $24,200.
+[42.90s -> 57.10s]  Okay, so we've got one cash outflow today and then two cash inflows over the next two years. So how would we set this up to figure out the IRR? Well, remember, it's the rate of return that's going to give us an NPV of zero.
+[57.10s -> 61.26s]  we set it up where we say, okay, here's our MPV of zero.
+[61.26s -> 75.60s]  we'll put that on the right hand side so this is zero what would we have to do if we had a negative fifty thousand dollar cash outflow today this doesn't need to be discounted and then the thirty three thousand dollar cash inflow that needs to be discounted by one period so
+[75.60s -> 82.70s]  We divide it by one plus R. Okay, so this is basically, we're just taking the cash flows and we're discounting them.
+[82.70s -> 96.98s]  Okay, obviously not the first one because it occurs today. And then the second cash flow occurs two periods from now. So it would be $24,200 divided by 1 plus R raised to the second power because it's two periods from now.
+[96.98s -> 111.18s]  a third year then we would have the third cash flow and it'd be divided by 1 plus R to the third power okay and so these cash flows the discounted cash flow the net the net discounted cash flows when we take the net
+[111.18s -> 120.13s]  negative one and then we've got the two positive ones, then we net it all together, should equal zero. The question is, what is the r?
+[120.13s -> 134.45s]  What is the R that would make this equal to zero? How do we get the left-hand side here equal to zero? And so we can use trial and error. What we do is basically plug in different numbers for our R. So we can try.
+[134.45s -> 143.66s]  for example nine percent so if we try nine percent we say okay let's just take the same thing here and let's just plug in 0.09 for our r
+[143.66s -> 150.08s]  okay so we got negative 50 000 plus 33 000 divided by 1.09
+[150.08s -> 164.37s]  Okay, and then 24,200 divided by 1.09 to the second power. Again, that's because that's two periods in the future. So we're just using the time value of money to discount these cash flows. And it gives us an MPV. So if we calculate...
+[164.37s -> 175.68s]  this these out you get an MPV of six hundred and forty four dollars now remember we said the IRR is supposed to get is that when we plug in the M4R it's supposed to give us an MPV of zero
+[175.68s -> 188.02s]  But we don't have an MPV of zero. We have $644. So obviously, 9% is not correct. So that's not our IRR. So let's try another one. Let's try 9.5%.
+[188.02s -> 197.90s]  and we'll just iteratively go and try different values. So again, we just plug in, this is the same formula as here, but now for the r, we have 0.095.
+[197.90s -> 212.24s]  see that so now it's 1.095 is what we're dividing the 33 000 by and then the 24 200 we divide by 1.095 to the second power or to the second power and then what we get here here's the
+[212.24s -> 226.45s]  I've divided all this out for you. So, but it's just basically just doing division here. This equals this and so forth. So that gives us an MPV of $320. Okay, so here we had an MPV of $644.
+[226.45s -> 239.74s]  we tried nine percent and then we went up to nine point five percent and got an MPV that is still not zero this this is obviously not zero but it's closer to zero okay we went from 644
+[239.74s -> 252.67s]  to 320. So by going up from 9 to 9.5, we got closer to zero. So even though 9.5 is not correct, it's not the RRR, we're going in the right direction. So let's keep going up.
+[252.67s -> 261.20s]  Let's keep going up. Let's try now 10% Okay, so now we're just gonna plug in for this R. It's gonna be we're gonna plug in a 0.1
+[261.20s -> 275.12s]  And so if we do that, now we've got negative 50,000 plus 33,000 divided by 1.1, and then plus 24,200 divided by 1.1 squared, okay, to the second power. What does that equal?
+[275.12s -> 284.30s]  And that equals zero. So now that we've actually found a rate here that equals zero, now we know what our IRR is.
+[284.30s -> 296.67s]  Our IRR is 10% because when we discount these cash flows and net them together using a discount rate of 10%, that was where we got this 0.1.
+[296.67s -> 309.74s]  When we do that, we end up with an NPV for the project of zero. So 10% is this project's internal rate of return. Now, what do we do with that? Well, we're going to look at the company's hurdle rate.
+[309.74s -> 317.15s]  Okay, so let's say the company has a hurdle rate where they said, look, we have to achieve a return of at least 8%.
+[317.15s -> 331.54s]  on our projects and so we compare them and say okay well this project has a IRR 10% and our hurdle rate is 8% so we meet the required rate of return for this particular company so then we would accept the
+[331.54s -> 345.74s]  Okay, if the hurdle rate was 13%, then we would say, well, we get a 10% return here, but we don't meet the hurdle rate. We would reject the project. And again, we also, if we do exceed the hurdle rate, we want to make sure too that we don't.
+[345.74s -> 360.34s]  have any kind of capital constraints and I'll make another video where we talk about what to do. You might have an IRR that exceeds the hurdle rate but you have some kind of capital constraints where the company only has so much money to invest in certain projects and we'll talk about that in another video.

VideoMMMU_ASR_large/Business/validation_Finance_16.mp4.txt

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+[0.00s -> 14.32s]  Let's say that you agree to lend me some money. Say you agree to lend me $100. And I ask you, all right, do I just have to pay you back $100? And you say, no, no, you want some interest. And I say, how much interest? And you say.
+[14.32s -> 27.04s]  that you are going to charge me 5% per year interest. So one way to think about it is if I borrow $100 today, so $100 today.
+[27.04s -> 31.46s]  In a year, I'm going to have to pay you back $100.
+[31.46s -> 45.81s]  times, I'm gonna have to grow it by 5%, so that's the same thing as multiplying it by 1.05. This is how much I'm going to have to pay back. Let me write this down. This is borrow. This is what I'm going to have to pay back.
+[45.81s -> 57.87s]  And so this interest rate, the face value of how much more I'm gonna have to pay back, this is known as the nominal interest rate. Nominal interest rate.
+[57.87s -> 66.29s]  And we can compare this to the real interest rate. And you might say, why do we need some other type of interest rate?
+[66.29s -> 79.12s]  Well, even though on the face value I'm paying you back 5% more, that doesn't necessarily mean that you're going to be able to buy 5% more with the money that you get paid back, and you might guess why that is the case.
+[79.12s -> 90.21s]  because of inflation. $105 will not necessarily buy you in a year what it might buy you today. And so that's what the real interest rate is trying to get at.
+[90.21s -> 98.96s]  And to do that, to calculate our real interest rate, we are going to have to think about inflation. So let me put inflation right over here.
+[99.76s -> 113.57s]  And so let's say that we are in a world that has 2% inflation. So an indicative basket of goods that costs $100 today, if this is the inflation rate, would cost $102 in a year.
+[113.57s -> 120.35s]  So there's two ways that folks will calculate the real interest rate given the nominal interest rate and the inflation rate.
+[120.35s -> 128.77s]  The first way is an approximation, but it's very simple and you can do it in your head, and that's why it's often the first way that it's taught, but it's not exactly mathematically correct.
+[128.77s -> 142.62s]  So the first way, you'd say, well, this could approximately be equal to the nominal interest rate minus the inflation rate. So you could say this could be approximately equal to 5% minus, minus.
+[142.62s -> 149.84s]  which would be equal to 3%. And this is a decent approximation.
+[149.84s -> 160.75s]  But the actual way that you would want to calculate this, if you wanted to be more mathematically precise, is that your nominal interest rate multiplies things by 1.05. So 1.05.
+[160.75s -> 173.68s]  But then things are getting more expensive at a rate of 2% per year. Or another way to think about it, costs are being multiplied by 1.02 every year. So we divide by that amount, 1.02.
+[173.68s -> 186.62s]  and so this was going to give us 1.05 divided by 1.02 is equal to 1.0294.
+[186.62s -> 195.98s]  And another way to think about it, we just got a much better sense of what the real interest rate is. It's actually much closer to .
+[195.98s -> 204.96s]  And this is a very small difference, and so that's why people like this method. You can do it in your head, and it got pretty close.
+[204.96s -> 213.47s]  But keep in mind, even very small changes in interest can make a big deal when we compound over many years. And in other videos, we've talked about compounding.

VideoMMMU_ASR_large/Business/validation_Finance_17.mp4.txt

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+[0.37s -> 10.30s]  We know that the bond price is equal to present value of all future cash flows. So what is the future cash flows of a bond? We receive coupons and we receive
+[10.30s -> 23.30s]  the whole amount which is called face value therefore the bond price will be equal to the present value of coupon plus the present value of face time how many times do we get the coupon we get it periodically so we'll get it many times
+[23.30s -> 36.24s]  how many times we get the face value we get it only once at maturity therefore the bond price will be equal to for the coupon we need to get the present value for the annuity while for face value we need to get the present value of single cash flow
+[36.24s -> 49.98s]  which we studied before in time value of money therefore we could say that our bond price is equal to for bond price we'll give it symbol P capital P so the formula of present value of ordinary annuity is
+[49.98s -> 63.31s]  c multiplied by open bracket 1 minus open second bracket 1 plus i close bracket to the power negative n close bracket divided by i plus get the present value of single cash flow which is face value
+[63.31s -> 75.17s]  multiplied by 1 plus i to the power negative n. So, how do we calculate the coupon? We said that our coupon is equal to coupon rate times face value. Therefore, here we use the coupon rate only once.
+[75.17s -> 87.74s]  but what about this i this discount factor we have it here three times so what do you mean by this i this i refers to yield to maturity some textbook will give it abbreviation of ytm
+[87.74s -> 93.91s]  other textbook it will be little y other textbook it will be i and this will be our discount factor

VideoMMMU_ASR_large/Business/validation_Finance_18.mp4.txt

@@ -0,0 +1,18 @@
+[0.85s -> 3.94s]  Today, I wanted to briefly discuss the arbitrage.
+[3.94s -> 16.08s]  pricing theory or APT. Now, I really like this graphic here, but I don't know what Bob's market has to do with the APT. And I really don't know what these bananas have to do with the APT. But what I do know is that APT is related to the CAPM.
+[16.08s -> 21.84s]  or the capital asset pricing model but it isn't i highly recommend that you watch my videos on cap m
+[21.84s -> 35.62s]  prior to watching this video you can check out those videos if you follow these links right here so again it is related to CAPM let's refresh our memory in terms of CAPM now the important thing to remember here is that there's this beta and that represents
+[35.62s -> 48.86s]  and exposure to the market and that's kind of it that's the only thing that matters that is really it but i don't think that's particularly realistic i think you could think of a number of things that would impact uh asset
+[48.86s -> 61.63s]  prices so what the arbitrage pricing theory does is it attempts to improve the cap m now the cap m is really kind of a special case of the arbitrage pricing theory now
+[61.63s -> 76.18s]  In CAPM, there's only one beta, but APT says, well, maybe there are more beta. So we can look at this formula and say, well, instead of that being the exposure, it's just an exposure to something that impacts asset prices. And there probably are other things. We can add another.
+[76.18s -> 86.93s]  exposure and another one and we can just keep going until we have all the exposures that we think impact prices and this gives us a more realistic model to price assets
+[86.96s -> 92.77s]  Now, what are these factors? Well, they're going to be like microeconomic factors.
+[92.77s -> 107.06s]  They aren't specified in the theory book. Well, maybe there's three to seven of these things that really impact prices. Now, keep in mind, I have some issues with the way we calculate inflation. I have some issues with GDP. You can check out videos on those topics here. Inflation.
+[107.06s -> 121.26s]  and here GDP. I think you'll find those of interest. Let's just do a quick example. Let's say we have an asset and we have some exposures out there. We have some factors out there. So let's say we have GDP growth. We were saying it's expected return is 4% and our
+[121.26s -> 122.38s]  asset has a beta.
+[122.38s -> 136.67s]  uh versus it a 0.8 we've got inflation we expect that to be 2.3 our asset has a beta exposure 0.6 to that we think gold prices are going to go up by 3.5 and our asset has a negative 0.5 beta exposure to gold prices
+[136.67s -> 150.90s]  And we have the S&P 500. I think that's going to go up 7%. And our particular asset has a beta of 1.4 versus that asset. And of course, there's also that risk-free rate. So to calculate this, what we're going to do is say our expected return. So we're going to take that beta of.
+[150.90s -> 165.10s]  gdp growth we're going to take that risk premium so our expected return for gdp growth minus the risk-free rate we're going to get you know 2.4 we do the same kind of thing for inflation same kind of thing for gold prices same kind of thing for this 500 return and then we add those things up together
+[165.10s -> 169.17s]  say based on this model we expect our asset
+[169.17s -> 183.44s]  to return 10.33 that's basically it you need to stop it and go through math go ahead and do that but that's about it next time we'll talk about assumptions uh because there are some assumptions that are different than cap m that i think are important to highlight anyway
+[183.44s -> 186.75s]  I hope you enjoyed that. I'm Brian Kozlowski. Thank you so much.

VideoMMMU_ASR_large/Business/validation_Finance_2.mp4.txt

@@ -0,0 +1,12 @@
+[1.55s -> 8.74s]  Okay, this example we're going to calculate the expected return using arbitrage pricing theory.
+[8.74s -> 20.27s]  We've got four variables, gross domestic product or GDP, inflation, gold prices, and S&P 500 index. We have betas for each of these.
+[20.27s -> 34.62s]  and risk premiums so if we if we were given expected returns we would just subtract the ex the expected return
+[34.62s -> 45.78s]  minus the risk-free rate and we would expect return on the market we would go go about it that way and but so anyway
+[45.78s -> 52.62s]  Our expected return here is simply going to be...
+[55.79s -> 68.37s]  call it erp for expected return on portfolio so it's our risk free rate plus the first beta 0.6
+[68.69s -> 82.86s]  right here, multiplied by the market risk premium, plus the second beta, 0.8, multiplied by the market risk premium of 2, that's these two numbers, plus
+[83.38s -> 92.88s]  negative 0.7 5%
+[93.20s -> 107.68s]  down here oh and then what's the s p 500 beta of 1.3 times the risk premium multiply those out and we get
+[107.68s -> 114.00s]  and an expected return of 15.6 percent so the
+[114.26s -> 127.30s]  Example in your homework is slightly different, but it already gives you an expected return, and it gives you changes in variables.
+[127.30s -> 138.99s]  multiply the beta, use the expected return, and multiply the beta by the change in those variables to get the new expected return.

VideoMMMU_ASR_large/Business/validation_Finance_20.mp4.txt

@@ -0,0 +1,33 @@
+[0.14s -> 11.54s]  Let's say that I am a producer of wine. And in this axis, vertical axis, this is dollars per bottle. So 10, 20, 30.
+[11.54s -> 21.81s]  $40 per bottle. And on this axis right over here, I'll have quantity of bottles I produce per week. So let's say that this is 100, this is 200.
+[21.81s -> 34.70s]  300 and then 400. So this is quantity of bottles. Bottles per week. And this is dollars per bottle.
+[34.74s -> 48.29s]  So let's think about the demand curve here. The demand curve for my type of wine. We're going to assume this is highly differentiated wine. The demand curve looks something like that. I'm doing it as a straight line for simplicity.
+[48.29s -> 62.58s]  The demand curve looks like that. And since I said differentiated, this is not going to be perfect competition. I have a monopoly in my type of wine. So this isn't the market for wine generally. This is a market for my wine. My wine has won some taste.
+[62.58s -> 76.78s]  taste test, it has this unique flavor and whatever else, and so you can view me as a monopolistic competitor. There's obviously competition from other wine labels, from other wine producers, but my wine is differentiated and I have a monopoly in my
+[76.78s -> 86.03s]  particular type of wine. And we've done this multiple times. If I have a monopoly in my type of wine, we're talking about the market in my wine, then my marginal revenue curve
+[86.03s -> 99.10s]  My marginal revenue curve will have twice the slope of this. So it will look something like that. And I'll actually keep going negative after that. So that is my marginal revenue curve. And then we can think about the cost side.
+[99.10s -> 104.22s]  The cost side of things, my marginal cost might look something like this.
+[104.22s -> 117.12s]  Marginal cost, or you could even view that as a supply curve for my wine. Then we can also do average total cost. The average total cost started off high. We have a fixed cost divided by a small quantity.
+[117.12s -> 128.72s]  But the marginal costs are lower than the average. So the average keeps going down and down and down and down. Then they're equal. Now each incremental unit is bringing up the average in cost. So then the average total cost might look something like that.
+[128.72s -> 133.44s]  average total cost. And we've seen this show multiple times.
+[133.44s -> 147.86s]  If in the near term, I do have a monopoly here, so I would just produce the quantity where my marginal revenue is equal to my marginal cost. Before that quantity, for every unit, I'm getting economic profit, economic profit, economic profit. If I produce more,
+[147.86s -> 158.10s]  Other than that, I'm not getting any economic profit anymore. So I'm going to produce this quantity, which looks like about 160 units. And I'm going to sell it.
+[158.10s -> 172.40s]  for the price I'm going to be able to sell it. So this is the quantity that I'm going to be able to sell. The price I'm going to sell it at, go up to the demand curve, that point of the demand curve. And it looks like I'll be able to sell it for about, I don't know, $33,000.
+[172.40s -> 173.55s]  $3 a bottle.
+[173.55s -> 187.95s]  So $33 a bottle. And if we want to think about economic profit, this is the average revenue per bottle. This is the average cost per bottle. So this is the average economic profit per bottle. And I multiply that times the total number of bottles.
+[187.95s -> 190.98s]  and I'm gonna get my economic profit.
+[190.98s -> 205.36s]  So this area right over here is my total economic profit. And we can think about how much are the consumers benefiting from it? How much benefit are they getting excess of what they're paying for it? And that would be this area right over here.
+[205.36s -> 218.40s]  consumer surplus. Now let's say I'm just not happy with this. I see that there's an opportunity here to get even more economic profit because after all, and we've been talking about this from the beginning,
+[218.40s -> 232.06s]  There are people here who are getting over $40 of benefit from my wine, but I'm selling it to them for only $33. Everything we've assumed so far is that all of the consumers are buying something at the exact same price.
+[232.06s -> 237.82s]  But I'm a crafty wine producer, and I say, well, let me call that into question. Why can't I?
+[237.82s -> 250.75s]  just put a different label on my exact same wine and sell it to these people for a different price. And so I do that exact thing. I still produce this exact same quantity. I produce this exact same quantity. But the first...
+[250.75s -> 257.63s]  The first 100 units of my quantity, I put a different label on it. This label says super fancy wine.
+[257.63s -> 272.05s]  Super fancy, premium, the best wine you ever drank. Super fancy, premium wine. It has all of the awards, all of the fancy people who like it. I put it in the best wine boutiques and the best restaurants with that label. All this exact same stuff in the...
+[272.05s -> 286.26s]  a bottle, and I sell that one at $40 a bottle. So the first 100 units, I sell at $40 a bottle. So now my economic profit on those units, remember, I'm producing 150, so my average total cost is down here.
+[286.26s -> 300.46s]  cost is this line right over here. So on those bottles, I'm getting this much economic profit per bottle times these 100 units. I've now increased my economic profit. I've eaten into the consumer surplus. I've taken some of that for myself and turned it into economic profit.
+[300.46s -> 309.87s]  And then the other, I don't know, this looks like about 60 or 70 bottles, I just have with the traditional label and I maybe sell at the supermarket. Traditional.
+[310.10s -> 324.69s]  traditional label, and I just sell it at the supermarket. I call it just, you know, pretty good wine, just so in case someone who bought it at the fancy place doesn't see that the pretty good wine is the exact same thing. And what I've just done here is I've discriminated
+[324.69s -> 330.98s]  amongst consumers. Depending on consumers' willingness to pay, I've essentially charged them different prices and also
+[330.98s -> 344.14s]  I guess to some degree based on where they shop and their gullibility, I am charging them two completely different prices. And this right over here is called price discrimination.
+[344.14s -> 358.74s]  And it's a way that a supplier can essentially take some of the consumer surplus for themselves, eat into some of that excess marginal benefit that they're essentially giving to the consumer and turning it into economic profit.
+[358.74s -> 359.63s]  profit.