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Macroeconomics and Microeconomics: Foundations, Models, and Key Outcomes

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Circular Flow Diagram

Nominal GDP and Real GDP

Value Added Method for Measuring GDP

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

PPF - Outward Shifts

Growth Rates and the Rule of 70

Labor Force and Unemployment

Types of Unemployment

Inflation and Consumer Price Index (CPI)

Nominal Interest, Real Interest, and the Fisher Equation

Quantity Theory of Money

Demand-Pull and Cost-Push Inflation

Long Run Aggregate Supply

Short Run Aggregate Supply

Shifting Short Run Aggregate Supply

Aggregate Demand

Shifting Aggregate Demand

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