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Comprehensive Macroeconomics Study Guide: Key Concepts and Applications

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Three Key Economic Ideas

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

Positive and Normative Statements

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    Identifying Statements
    02:48
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    Positive Statements vs. Normative Statements
    04:35

Circular Flow Diagram

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

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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    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
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    Different PPFs and Absolute Advantage
    02:03

PPF - Comparative Advantage and Trade

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    Comparative Advantage and Specialization in Trade
    05:30

Introduction to Supply and Demand

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    Perfect Competition
    03:23

The Basics of Demand

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    The Basics of Demand
    06:02

Shifting Demand

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    Substitute and Complementary Goods
    01:27
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    Shifting Demand
    03:59
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    Consumer Preferences
    01:44

The Basics of Supply

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    The Basics of Supply
    02:43

Shifting Supply

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    Shifting Supply
    01:56
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    Nature
    01:00
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    Technology
    01:39

Supply and Demand Together: Equilibrium, Shortage, and Surplus

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    Equilibrium
    02:41
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    Law of Supply and Demand
    02:43
  • Surplus and Shortage
    02:56

Expenditure Approach for Measuring GDP

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    Calculating GDP Using the Expenditure Approach
    02:31

Shortcomings of GDP

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    Shortcomings of GDP
    02:21

Nominal GDP and Real GDP

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

Other Measures of Total Production and Total Income

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    Other Measures of Total Production and Total Income
    05:10

Labor Force and Unemployment

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    Problems with Measuring Unemployment
    04:35
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    Labor Force and Unemployment
    05:58

Types of Unemployment

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    Frictional, Structural, and Cyclical Unemployment
    05:44
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    Definition of Full Employment
    02:44

Inflation and Consumer Price Index (CPI)

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

Using CPI to Adjust for Inflation

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    Using CPI to Adjust for Inflation
    04:34
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    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

Growth Rates and the Rule of 70

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    Growth Rates and the Rule of 70
    02:50
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    Growth Rates and the Rule of 70
    05:47

Institutions that Promote Economic Growth

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    Role of Government in Economic Growth
    08:45

Investment, Savings, and the Financial System

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    Investment and Savings
    02:01
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    The Financial System
    02:10

Savings Equal Investment

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    National Savings, Private Savings, and Public Savings
    04:53
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    Saving Equals Investment
    07:48
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    Savings Equals Investment in an Open Economy
    03:56

Market for Loanable Funds

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    Market for Loanable Funds
    04:42

Aggregate Demand

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    AD-AS Model: Aggregate Demand
    02:56
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    Interest Rate Effect
    05:48
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    Wealth Effect
    02:47

Shifting Aggregate Demand

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    Shifting Aggregate Demand
    04:27

Short Run Aggregate Supply

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    Short Run Aggregate Supply Slopes Upwards
    04:16
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    Short Run Aggregate Supply
    02:52

Long Run Aggregate Supply

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    Long Run Aggregate Supply
    04:36
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    Shifting Long Run Aggregate Supply
    04:35

AD-AS Model: Equilibrium in the Short Run and Long Run

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    Long Run Equilibrium in the AD-AS Model
    02:28
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    Short Run Equilibrium in the AD-AS Model
    02:35

The Functions of Money; The Kinds of Money

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    Kinds of Money
    01:33
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    Functions of Money
    04:06
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    Definition of Money; Barter Economy; Double Coincidence of Wants
    02:30

Defining the Money Supply: M1 and M2

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    Defining the Money Supply: M1 and M2
    02:14

Required Reserves and the Deposit Multiplier

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    Bank Balance Sheet and Money Supply
    05:31
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    Required Reserves and the Deposit Multiplier
    03:16

Introduction to the Federal Reserve

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    Organization of the Federal Reserve
    05:05
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    Role of the Federal Reserve
    03:11

The Federal Reserve and the Money Supply

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    Money Supply:Discount Policy and Required Reserves
    05:42
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    Money Supply:Open Market Operations
    06:01

Quantity Theory of Money

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    Quantity Theory of Money and Inflation
    05:17
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    Quantity Theory of Money
    04:25

Goals of Monetary Policy

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    Goals of Monetary Policy
    03:28

The Demand for Money

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    Money Demand
    01:51
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    Shifting Money Demand
    02:17

Monetary Policy and Aggregate Demand

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    Price Levels and the Money Market
    06:24
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    Monetary Policy and Aggregate Demand
    04:53
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    Interest Rates and Aggregate Demand
    06:42

Expansionary and Contractionary Monetary Policy

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    Expansionary Monetary Policy
    07:42
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    Contractionary Monetary Policy
    08:07

Taylor Rule

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    Taylor Rule
    03:35
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    Taylor Rule
    03:35

Introduction to Fiscal Policy

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    Introduction; Discretionary Policy and Automatic Stabilizers
    09:33

Expansionary and Contractionary Fiscal Policy

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    Contractionary Fiscal Policy
    03:48
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    Expansionary Fiscal Policy
    05:24

Government Purchases and the Multiplier Effect

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    Government Purchases GDP Multiplier
    08:02

Taxes, the Multiplier Effect, and Automatic Stabilizers

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    Taxes as an Automatic Stabilizer
    03:50
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    Taxes and the GDP Multiplier
    05:11

Long Run Effects of Fiscal Policy

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    Persistent Budget Deficit
    03:39
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    Long Run Tax Policy
    02:40

Short Run Phillips Curve

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    Short Run Phillips Curve
    09:33

Long Run Phillips Curve

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    Long Run Phillips Curve
    06:07

Phillips Curve and Expected Inflation

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    Shifting the Phillip's Curve
    07:46
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    Expectations of Future Inflation
    09:52

Phillips Curve and Supply Shocks

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    Shifting the Phillips Curve: Supply Shocks
    05:19