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Macroeconomics Study Guide: Principles, Trade, GDP, and Inflation

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Three Key Economic Ideas

  • Percorso guidato
    Marginal Analysis
    09:36
  • Percorso guidato
    People Are Rational
    02:02
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    Economic Incentives
    01:40

Circular Flow Diagram

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    Households and Firms
    01:32
  • Percorso guidato
    The Circular Flow Diagram
    04:20

Factors of Production

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    Human Capital and Entrepreneurship
    02:08
  • Percorso guidato
    Land, Labor, and Physical Capital
    03:09

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

  • Percorso guidato
    Understanding the PPF
    06:23
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    PPF - Attainable and Efficient
    04:48

PPF - Comparative Advantage and Absolute Advantage

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    Opportunity Costs and Comparative Advantage
    04:36
  • Percorso guidato
    Different PPFs and Absolute Advantage
    02:03

PPF - Comparative Advantage and Trade

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    Comparative Advantage and Specialization in Trade
    05:30

Sources of Comparative Advantage

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    Sources of Comparative Advantage
    05:50

Expenditure Approach for Measuring GDP

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    Calculating GDP Using the Expenditure Approach
    02:31

Detailed Explanation of GDP Components

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    Government Purchases and Net Exports
    02:12
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    Consumption
    02:38
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    Investment
    02:01

Nominal GDP and Real GDP

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    Nominal GDP and Real GDP
    09:15
  • Percorso guidato
    Inflation and the GDP Deflator
    03:04

Shortcomings of GDP

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    Shortcomings of GDP
    02:21

Inflation and Consumer Price Index (CPI)

  • Percorso guidato
    Calculating CPI and Inflation Rate
    08:35
  • Percorso guidato
    Consumer Price Index (CPI)
    04:40
  • Percorso guidato
    Inflation
    03:34

Using CPI to Adjust for Inflation

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    Using CPI to Adjust for Inflation
    04:34
  • Percorso guidato
    Using CPI to Adjust for Inflation
    02:49

Problems with the Consumer Price Index (CPI)

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    Problems with CPI
    05:24

Nominal Income and Real Income

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    Nominal Income and Real Income
    06:07

Long-Run Economic Growth

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    Economic Growth
    02:07

Productivity and the Per-Worker Production Function

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    Per-Worker Production Function:Change in Technology
    02:27
  • Percorso guidato
    Catch-up Effect
    05:51
  • Percorso guidato
    Per-Worker Production Function
    05:02