Macroeconomics
About This Book
1 About This Course Waymaker Macroeconomics (Summer 2018) This macroeconomics course prepares students to think like economists and analyze decisions made by individuals, businesses, and governments. Students will learn about the key macroeconomic indicators of GDP, unemployment, and inflation, then apply these concepts to analyze economic behavior. Content coverage includes choice and scarcity; supply and demand; elasticity; applications of supply and demand; elasticity; gdp and economic growth
| Category | general |
|---|---|
| Subject | N/A |
| Year | 2023 |
| Authors | |
| Chapters | 108 |
| Word Count | |
| Price | |
| License | Creative Commons - Attribution - https://creativecommons.org/licenses/by/4.0/ |
Chapters
- 1 About This Course
- 2 Course Contents at a Glance
- 3 Learning Outcomes
- 8 Microeconomics and Macroeconomics
- 9 Economic Models
- 13 Types of Graphs
- 14 Putting It Together: Economic Thinking
- 19 Calculating Opportunity Cost
- 20 The Production Possibilities Frontier
- 21 Productive Efficiency and Allocative Efficiency
- 22 Rationality and Self-Interest
- 23 Marginal Analysis
- 24 Positive and Normative Statements
- 27 Assignment: Guns or Butter?
- 36 Equilibrium, Surplus, and Shortage
- 37 Changes in Equilibrium
- 38 Finding Equilibrium
- 39 Changes in Supply and Demand
- 40 Putting It Together: Supply and Demand
- 41 Discussion: Supply and Demand
- 42 Assignment: Supply and Demand of Coffee
- 45 Why It Matters: Applications of Supply and Demand
- 47 Understanding Economics and Scarcity
- 48 Price Floors
- 51 Consumer & Producer Surplus
- 55 Putting It Together: Applications of Supply and Demand
- 57 Assignment: Price Controls After a Storm
- 62 Examples of Elastic and Inelastic Demand
- 63 Calculating Elasticity and Percentage Changes
- 64 Calculating Price Elasticities Using the Midpoint Formula
- 65 Categories of Elasticity
- 66 Price Elasticity of Supply
- 67 Income Elasticity, Cross-Price Elasticity & Other Types of Elasticities
- 69 Elasticity, Costs, and Customers
- 70 Tax Incidence
- 71 Putting It Together: Elasticity
- 72 Discussion: Junk Food and Elasticity
- 77 The Macroeconomic Perspective
- 82 Comparing Nominal and Real GDP
- 83 Converting Nominal to Real GDP
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- Growth Accounting Studies
- The Power of Sustained Economic Growth
- 93 Assignment: Data Project Part 1
- 95 Why It Matters: Unemployment and Inflation
- 96 Who Counts in Unemployment?
- 99 Cyclical Unemployment
- 101 The Natural Rate of Unemployment
- 103 Calculating Inflation with Index Numbers
- 104 The Consumer Price Index
- 105 Shortcomings of the Consumer Price Index as a Measure of the Cost of Living
- 107 Problems with Inflation
- 108 Benefits of Low Inflation
- 109 Putting It Together: Inflation and Unemployment
- 110 Discussion: How is the Economy?
- 111 Assignment: The State of the Macro Economy
- 119 Shifts in Aggregate Demand
- 121 Business Cycles and Growth in the AD–AS Model
- 123 Discussion: The Business Cycle and the AD-AS Model
- 125 Assignment Solution: Analysis of a Demand/Supply Shock using the AD-AS Model
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- 133 The Neoclassical Perspective and Potential GDP
- 137 Say’s Law versus Keynes’ Law
- 139 Balancing Keynesian and Neoclassical Models
- 143 Assignment: Keynesian and Neoclassical Economics
- 150 Finding Equilibrium Using Algebra
- 151 Recessionary and Inflationary Gaps in the Income-Expenditure Model
- 153 The Spending Multiplier in the Income-Expenditure Model
- 154 The Spending Multiplier and Changes in Government Spending
- 155 Putting It Together: The Income-Expenditure Model
- 157 Assignment: The Income-Expenditure Model
- 160 Why It Matters: Fiscal Policy
- 162 Government Spending
- 163 State and Local Government Spending
- 165 Federal Budgets and National Debt
- 167 Automatic Stabilizers
- 169 Neoclassical Fiscal Policy and Supply-Side Economics
- 170 Fiscal Policy, Investment, and Crowding Out
- 171 Putting It Together: Fiscal Policy
- 176 Why It Matters: Money and Banking
- 177 Defining Money by Its Functions
- 178 Measuring Money: Currency, M1, and M2
- 180 Financial Markets and Assets
- 181 Financial Markets, Supply and Demand, and Interest
- 183 Banking Assets and Liabilities
- 184 How Banks Create Money
- 188 Assignment Solution: Baby Boomers
- 190 Why It Matters: Monetary Policy
- 191 Banks, Loan Finance, and the Payments System
- 192 The Federal Reserve System and Central Banks
- 194 Monetary Policy and Open Market Operations
- 196 Monetary Policy and Aggregate Demand
- 199 Putting It Together: Monetary Policy
- 204 Why It Matters: Policy Applications
- 205 Viewpoints on Government Policy
- 206 The Phillips Curve
- 209 Ricardian Equivalence
- 212 Policy Implications: Supply Shocks and Economic Growth
- 213 Putting It Together: Policy Application
- 214 Discussion: Macropolicy
- 218 Why It Matters: Globalization and International Trade
- 222 Demand and Supply Analysis of International Trade
- 223 Protectionism
- 232 Why It Matters: Exchange Rates and International Finance
- 234 Strengthening and Weakening Currency
- 235 Macroeconomic Effects of Exchange Rates
- 239 Discussion: Global Currencies
- 241 Assignment Solution: Exchange Rates and International Finance