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lectures/cons_smooth.md
@@ -34,7 +34,7 @@ Milton Friedman had used this idea in his PhD thesis at Columbia University,
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eventually published as {cite}`kuznets1939incomes` and {cite}`friedman1954incomes`.
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```
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-It will take a while for a "present value" or asset price explicilty to appear in this lecture, but when it does it will be a key actor.
+It will take a while for a "present value" or asset price explicitly to appear in this lecture, but when it does it will be a key actor.
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## Analysis
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