Macroeconomics Macroeconomics


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Ch. 1 - Economics: Foundations and Models

Introduction to Economics Three Key Economic Ideas Productive and Allocative Efficiency Positive and Normative Statements Graphing Review Percentage and Decimal Review Fractions Review

Ch. 2 - Trade-offs, Comparative Advantage, and the Market System

Circular Flow Diagram Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency PPF - Outward Shifts PPF - Comparative Advantage and Absolute Advantage PPF - Comparative Advantage and Trade

Ch. 3 - Where Prices Come From: The Interaction of Demand and Supply

Introduction to Supply and Demand The Basics of Demand Individual Demand and Market Demand Shifting Demand The Basics of Supply Individual Supply and Market Supply Shifting Supply Big Daddy Shift Summary Supply and Demand Together: Equilibrium, Shortage, and Surplus Supply and Demand Together: One-sided Shifts Supply and Demand Together: Both Shift

Ch. 4 - Economic Efficiency, Government Price Setting, and Taxes

Consumer Surplus and WIllingness to Pay Producer Surplus and Willingness to Sell Economic Surplus and Efficiency Price Ceilings, Price Floors, and Black Markets Supply and Demand: Quantitative Analysis Quantitative Analysis of Consumer and Producer Surplus at Equilibrium Quantitative Analysis of Price Ceilings and Floors: Finding Points Quantitative Analysis of Price Ceilings and Floors: Finding Areas Introducing Taxes and Tax Incidence Effects of Taxes on a Market

Ch. 6 - Firms, the Stock Market, and Corporate Governance

Time Value of Money Calculations Calculating Bond and Stock Prices

Ch. 7 - Comparative Advantage and the Gains from International Trade

Exporting and Importing Sources of Comparative Advantage Tariffs on Imports Import Quotas and VERs Arguments Against International Trade

Ch. 8 - GDP: Measuring Total Production and Income

Calculating GDP Detailed Explanation of GDP Components Value Added Method for Measuring GDP Nominal GDP and Real GDP Shortcomings of GDP Other Measures of Total Production and Total Income

Ch. 9 - Unemployment and Inflation

Labor Force and Unemployment Types of Unemployment Labor Unions and Collective Bargaining Unemployment: Minimum Wage Laws and Efficiency Wages Unemployment Trends Consumer Price Index (CPI) Using CPI to Adjust for Inflation Problems with the Consumer Price Index (CPI) Nominal Interest, Real Interest, and the Fisher Equation

Ch. 10 - Economic Growth, the Financial System, and Business Cycles

Introducing Concepts - Economic Growth Growth Rates and the Rule of 70 Institutions that Promote Economic Growth Financial System Definitions Savings Equal Investment Market for Loanable Funds Shifts in the Market for Loanable Funds Stocks, Bonds, and Mutual Funds Introducing Concepts - Business Cycle Business Cycles and Their Characteristics

Ch. 11 - Long-Run Economic Growth: Sources and Policies

Productivity and the Per-Worker Production Function New Growth Theory

Ch. 12 - Aggregate Expenditure and Output in the Short Run

The Consumption Function Multiplier Effect of Investment Spending Aggregate Expenditures Model and Macroeconomic Equilibrium AE Model: Graphing Macroeconomic Equilibrium AE Model and the Multiplier AE Model: Components

Ch. 12 Appendix - Algebra of Macroeconomic Equilibrium

AE Model: Algebraic Approach

Ch. 13 - Aggregate Demand and Aggregate Supply Analysis

Aggregate Demand Shifting Aggregate Demand Long Run Aggregate Supply Short Run Aggregate Supply Shifting Short Run Aggregate Supply AD-AS Model: Equilibrium in the Short Run and Long Run AD-AS Model: Shifts in Aggregate Demand Dynamic AD-AS Model: Introduction Dynamic AD-AS Model: Inflation and Recession

Ch. 13 Appendix - Macroeconomic Schools of Thought

Classical Model and Keynesian Model Monetarist Model Quantity Theory of Money New Classical Model Real Business Cycle Model Austrian Model Communism and Karl Marx

Ch. 14 - Money, Banks, and the Federal Reserve System

The Functions of Money; The Kinds of Money Defining the Money Supply: M1 and M2 Required Reserves and the Deposit Multiplier Introduction to the Federal Reserve The Federal Reserve and the Money Supply Quantity Theory of Money

Ch. 15 - Monetary Policy

Goals of Monetary Policy The Demand for Money The Money Supply on the Graph Monetary Policy and Aggregate Demand Expansionary and Contractionary Monetary Policy Taylor Rule The Financial Crisis of 2007-2009 (The Great Recession) Federal Reserve Policies during the 2007-2009 Recession Dynamic AD-AS Model: Monetary Policy

Ch. 16 - Fiscal Policy

Introduction to Fiscal Policy Expansionary and Contractionary Fiscal Policy Government Purchases and the Multiplier Effect Budget Surplus and Budget Deficit Long Run Effects of Fiscal Policy Criticisms of Fiscal Policy Dynamic AD-AS Model: Fiscal Policy

Ch. 16 Appendix - Closer Look at the Multiplier

AE Model: Algebraic Approach Deriving the Multiplier Algebraically

Ch. 17 - Inflation, Unemployment, and Federal Reserve Policy

Short Run Phillips Curve Long Run Phillips Curve Phillips Curve and Expected Inflation Phillips Curve and Supply Shocks Disinflation and Deflation

Ch. 18 - Macroeconomics in an Open Economy

Balance of Payments: Introduction Balance of Payments: Current Account Balance of Payments: Financial Account and Capital Account Net Exports Equal Net Foreign Investment Balance of Trade; Trade Deficit and Trade Surplus Exchange Rates: Introduction Exchange Rates: Nominal and Real Exchange Rates: Equilibrium Exchange Rates: Shifts in Supply and Demand

Ch. 19 - The International Financial System

Exchange Rates and Net Exports Exchange Rates: Fixed, Flexible, and Managed Float Exchange Rates: Purchasing Power Parity

Ch. 19 Appendix - The Gold Standard and the Bretton Woods System

The Gold Standard The Bretton Woods System

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