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Core Principles of Macroeconomics: Study Guide

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Study Guide - Learn with Videos

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Three Key Economic Ideas

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

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

Circular Flow Diagram

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

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
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    Inflation and the GDP Deflator
    03:04

Calculating GDP Using the Income Approach

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    Comparison of U.S. GDP Calculation
    03:07
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    Calculating GDP Using the Income Approach
    07:44

Value Added Method for Measuring GDP

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    GDP and the Value-Added Approach
    02:21

Shortcomings of GDP

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    Shortcomings of GDP
    02:21

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

Nominal Income and Real Income

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    Nominal Income and Real Income
    06:07

Nominal Interest, Real Interest, and the Fisher Equation

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    Nominal Interest, Real Interest, and the Fisher Equation
    05:05

Who is Affected by Inflation?

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    Who is Affected by Inflation?
    05:58

Demand-Pull and Cost-Push Inflation

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    Demand-Pull Inflation
    03:53
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    Cost-Push Inflation
    02:22

Costs of Inflation: Shoe-leather Costs and Menu Costs

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    Costs of Inflation: Shoe-leather Costs, Menu Costs, and Tax Costs
    04:37

Business Cycles and Their Characteristics

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    Business Cycle Characteristics
    01:46
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    Causes of Business Cycles
    04:18
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    Key Ideas of the Business Cycle
    02:33

Externalities: Social Benefits and Social Costs

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    Externalities on the Graph
    14:23
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    Negative Externality and Positive Externality
    10:54

Public Solutions to Externalities

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    Public Solutions to Externalities: Quantity Limits
    04:07
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    Public Solutions to Externalities: Command-and-Control Policies and Corrective Pigovian Taxes and Subsidies
    16:25

Four Types of Goods and Two Characteristics

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    Rivalry and Excludability
    04:47
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    The Four Types of Goods: Private Goods, Club Goods, Common Resources, and Public Goods
    05:41

The Free Rider Problem and the Tragedy of the Commons

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    Tragedy of the Commons
    07:34
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    Free Rider Problem
    06:11