Welcome to MacroPrinciples!

Contents:

• 1. Course Administration
• 2. Introduction
  • 2.1. What Economics Is and Why It’s Important
    • 2.1.1. The Problem of Scarcity
    • 2.1.2. The Division of and Specialization of Labor
    • 2.1.3. Why the Division of Labor Increases Production
    • 2.1.4. Trade and Markets
    • 2.1.5. Why Study Economics?
    • 2.1.6. Key Concepts and Summary
    • 2.1.7. Self-Check Questions
  • 2.2. Microeconomics and Macroeconomics
    • 2.2.1. Microeconomics
    • 2.2.2. Macroeconomics
    • 2.2.3. Key Concepts and Summary
    • 2.2.4. Self-Check Questions
  • 2.3. How Economists Use Theories and Models to Understand Economic Issue
    • 2.3.1. Key Concepts and Summary
    • 2.3.2. Self-Check Questions
  • 2.4. How Economies Can Be Organized: An Overview of Economic Systems
    • 2.4.1. Regulations: The Rules of the Game
    • 2.4.2. The Rise of Globalization
    • 2.4.3. Key Concepts and Summary
    • 2.4.4. Self-Check Questions
  • 2.5. Macroeconomic Facts
• 3. Demand and Supply
  • 3.1. Demand, Supply, and Equilibrium in Markets for Goods and Services
    • 3.1.1. Demand for Goods and Services
    • 3.1.2. Key Concepts and Summary
    • 3.1.3. Self-Check Questions
• 4. Intro Macro Perspective
  • 4.1. Measuring the Size of the Economy: Gross Domestic Product
    • 4.1.1. GDP Measured by Components of Demand
    • 4.1.2. GDP Measured by What is Produced
    • 4.1.3. The Problem of Double Counting
    • 4.1.4. Other Ways to Measure the Economy
    • 4.1.5. Key Concepts and Summary
    • 4.1.6. Self-Check Questions
  • 4.2. Adjusting Nominal Values to Real Values
    • 4.2.1. Converting Nominal to Real GDP
    • 4.2.2. Key Concepts and Summary
    • 4.2.3. Self-Check Question
  • 4.3. Tracking Real GDP over Time
    • 4.3.1. Key Concepts and Summary
    • 4.3.2. Self-Check Question
  • 4.4. Comparing GDP among Countries
    • 4.4.1. Converting Currencies with Exchange Rates
    • 4.4.2. GDP Per Capita
    • 4.4.3. Key Concepts and Summary
    • 4.4.4. Self-Check Question
  • 4.5. How Well GDP Measures the Well-Being of Society
    • 4.5.1. Limitations of GDP as a Measure of the Standard of Living
    • 4.5.2. Does a Rise in GDP Overstate or Understate the Rise in the Standard of Living?
    • 4.5.3. GDP is Rough, but Useful
    • 4.5.4. Key Concepts and Summary
    • 4.5.5. Self-Check Question
• 5. Aggregate Demand and Aggregate Supply
  • 5.1. Macroeconomic Perspectives on Demand and Supply
    • 5.1.1. Say’s Law and the Macroeconomics of Supply
    • 5.1.2. Keynes’ Law and the Macroeconomics of Demand
    • 5.1.3. Combining Supply and Demand in Macroeconomics
    • 5.1.4. Key Concepts and Summary
    • 5.1.5. Self-Check Questions
  • 5.2. Building a Model of Aggregate Demand and Aggregate Supply
    • 5.2.1. The Aggregate Supply Curve and Potential GDP
    • 5.2.2. The Aggregate Demand Curve
    • 5.2.3. Equilibrium in the Aggregate Demand/Aggregate Supply Model
    • 5.2.4. Defining SRAS and LRAS
    • 5.2.5. Key Concepts and Summary
    • 5.2.6. Self-Check Questions
  • 5.3. Shifts in Aggregate Supply
    • 5.3.1. How Productivity Growth Shifts the AS Curve
    • 5.3.2. How Changes in Input Prices Shift the AS Curve
    • 5.3.3. Other Supply Shocks
    • 5.3.4. Key Concepts and Summary
    • 5.3.5. Self-Check Questions
  • 5.4. Shifts in Aggregate Demand
    • 5.4.1. How Changes by Consumers and Firms Can Affect AD
    • 5.4.2. How Government Macroeconomic Policy Choices Can Shift AD
    • 5.4.3. Key Concepts and Summary
    • 5.4.4. Self-Check Questions
  • 5.5. How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
    • 5.5.1. Growth and Recession in the AD/AS Diagram
    • 5.5.2. Unemployment in the AD/AS Diagram
    • 5.5.3. Inflationary Pressures in the AD/AS Diagram
    • 5.5.4. Importance of the Aggregate Demand/Aggregate Supply Model
    • 5.5.5. Key Concepts and Summary
    • 5.5.6. Self-Check Questions
  • 5.6. Keynes’ Law and Say’s Law in the AD/AS Model
    • 5.6.1. Key Concepts and Summary
    • 5.6.2. Self-Check Questions

Indices and tables

• Index
• Module Index
• Search Page