Macroeconomics Online | ECO 252 College Credit Course

Principles of Macroeconomics

Analysis of aggregate economic activity in relation to the level, stability, and growth of national income. Topics may include the determination and effects of unemployment, inflation, the balance of payments, deficits, and other policies.

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Course curriculum

1. Course Overview and Learning Outcomes
1. Introduction
1. Understanding Gross Domestic Product (GDP) and Its Components
2. Video: Gross Domestic Product Part A
3. Video: Gross Domestic Product Part B
4. Video: Gross Domestic Product Part C
5. Video: Gross Domestic Product Part D
6. Quiz - 1.1
1. Measuring and Adjusting GDP: Understanding Nominal and Real Values
2. Video: Nominal GDP, Real GDP
3. Quiz 1.2
1. Analyzing Economic Cycles: Recessions, Depressions, and Real GDP Trends
2. Video: Real GDP
3. Quiz 1.3
1. Comparing Economic Welfare Across Nations: The Role of GDP and Currency Conversion
2. Quiz 1.4
1. Beyond GDP: Analyzing the True Standard of Living
2. Video: Standard of Living
3. Quiz 1.5
1. Lesson Summary
1. Introduction
1. The Evolution of Economic Growth and its Impact on Living Standards
2. Quiz 2.1
1. Understanding the Drivers and Impact of Labor Productivity on Economic Growth
2. Video: Productivity Since Growth
3. Video: Output per hour worked
4. Video: Aggregate Production Function
5. Quiz 2.2
1. Components of Economic Growth: The Role of Capital, Technology, and a Healthy Economic Climate
2. Video: The Power of Sustained Economic Growth
3. Quiz 2.3
1. Economic Convergence: Analyzing Growth Patterns and Future Prospects
2. QUIZ 2.4
1. Understanding Unemployment: Causes, Impacts, and Patterns in a Dynamic Economy
2. Quiz 2.5
1. Unemployment: Measurement, Labor Force Dynamics, and Hidden Challenges
2. Quiz 2.6
1. Unemployment: Historical Patterns, Demographic Trends, and Global Comparisons
2. Quiz 2.7
1. Understanding Cyclical Unemployment: Sticky Wages and Labor Market Dynamics
2. Video: What Causes Changes in Unemployment over the Short Run
3. Quiz 2.8
1. Exploring the Natural Rate of Unemployment and Its Influences
2. Video: What Causes Changes in Unemployment over the Long Run
3. Quiz 2.9
1. Lesson Summary
1. Introduction to Inflation
1. Understanding Inflation: Calculating Rates, Index Numbers, and the Impact on Economic Indicators
2. Video: Calculate inflation rates using index numbers
3. Quiz - 3.1
1. Measuring Inflation: Understanding the Consumer Price Index and Beyond
2. Video: Measuring Core Inflation
3. Quiz - 3.2
1. Historical and Global Patterns of Inflation: A Comprehensive Analysis
2. Quiz - 3.3
1. The Economic Impact of Inflation: Redistributions, Perceptions, and Planning Challenges
2. Video: Minimum wage and Inflation
3. Quiz - 3.4
1. Indexing and Inflation: Economic Impacts and Government Responses
2. Quiz - 3.5
1. Trade Balances, Financial Capital Flows, and Global Economic Stability
2. Video: The trade Balance
3. Quiz - 3.6
1. The Dynamics of Trade Balances and Global Economic Stability
2. Quiz - 3.7
1. Analyzing Trade Balances: U.S. and Global Perspectives
2. Quiz - 3.8
1. U.S. Trade Balances: Historical Trends and Global Comparisons
2. Quiz - 3.9
1. Evaluating U.S. Trade Deficits: Historical Trends and Global Contexts
2. Video: Saving and Investment Identity
3. Quiz - 3.10
1. The Economic Impact of Trade Deficits and Financial Capital Flows
2. Quiz - 3.11
1. Understanding the Dynamics of Trade Levels and Balances
2. Quiz - 3.12
1. Lesson Summary
1. The Housing Market, Macroeconomic Fluctuations, and the AS-AD Model
1. The Interplay of Say's Law and Keynes' Law in Macroeconomic Theory
2. Quiz 4.1
1. Say's Law vs. Keynes' Law: Theories of Macroeconomic Supply and Demand
2. Video: Aggregate Supply Curve
3. Video: Aggregate Supply Curve
4. Video: Interpreting the AD/AS Model
5. Quiz 4.2
1. Shifts in Aggregate Supply: The Impact of Productivity and Input Prices
2. Video: Shifts in Aggregate Supply
3. Quiz 4.3
1. Dynamics of Aggregate Supply: Productivity Growth and Input Prices
2. Video: Shifts in Aggregate Demand
3. Video: Inflationary pressures
4. Quiz 4.4
1. Understanding Economic Fluctuations: The Aggregate Demand and Supply Model
2. Quiz 4.5
1. Diagnosing Economic Conditions with the AD/AS Model: Keynesian, Neoclassical, and Intermediate Zones
2. Quiz 4.6
1. The Keynesian Response to Economic Crises: Understanding the Great Recession
2. Quiz 4.7
1. Understanding the Keynesian Approach to Aggregate Demand and Economic Fluctuations
2. Quiz 4.8
1. The Keynesian Perspective on Recessions: Sticky Wages, Prices, and the Expenditure Multiplier
2. Video: Wage and Price Stickiness
3. Video: The Two Keynesian Assumptions in the AD/AS Model
4. Quiz 4.9
1. The Phillips Curve and Keynesian Economics: Analyzing the Tradeoff between Unemployment and Inflation
2. Video: Keynesian Policy for Fighting Unemployment and Inflation
3. Video: The Discovery of the Phillips Curve
4. Quiz 4.10
1. Neoclassical and Keynesian Perspectives: Lessons from the Great Recession
2. Quiz 4.11
1. The Neoclassical Perspective: Understanding Long-Run Macroeconomic Dynamics
2. Video: A Rebound Back to Potential GDP from a Shift to the Left in Aggregate Demand
3. Video: The Rebound to Potential GDP after AD Increases
4. Quiz 4.12
1. Neoclassical and Keynesian Economics: Analyzing Inflation, Unemployment, and Policy Implications
2. Video: Summary of Neoclassical Economics versus Keynesian Economics
3. Quiz 4.13
1. Balancing Keynesian and Neoclassical Perspectives: Understanding Economic Responses to Recessions
2. Quiz 4.14
1. Lesson Summary
1. Introduction to Money and Banking
1. The Evolution and Functions of Money: From Barter to Fiat Currency
2. Quiz 5.1
1. Understanding the Modern Money Supply: Differentiating M1 and M2
2. Video: Money Supply
3. Quiz 5.2
1. The Role of Banks as Financial Intermediaries and the Causes of Financial Crises
2. Video: A Bank’s Balance Sheet
3. Quiz 5.3
1. The Role of Banks in Money Creation and the Evolution of Money: From Reserves to Cryptocurrency
2. Quiz 5.4
1. Monetary Policy and the Role of the Federal Reserve: Challenges and Strategies
2. Quiz 5.5
1. The Structure and Role of the Federal Reserve: Central Banking in the U.S. Economy
2. Quiz 5.6
1. Bank Regulation, Supervision, and Stability in the Financial System
2. Quiz 5.7
1. Monetary Policy Tools and the Role of the Federal Reserve
2. Quiz 5.8
1. The Impact of Monetary Policy on Interest Rates, Aggregate Demand, and Macroeconomic Stability
2. Video: The Effect of Monetary Policy on Interest Rates
3. Quiz 5.9
1. Challenges and Implications of Monetary Policy in Modern Economies
2. Quiz 5.10
1. Lesson Summary
1. Introduction to Exchange Rates and International Capital Flows
1. Understanding the Foreign Exchange Market and Its Implications
2. Video: Demanders and Suppliers of Currency in Foreign Exchange Markets Part 1.
3. Video: Demanders and Suppliers of Currency in Foreign Exchange Markets Part 2
4. Video: Strengthening and Weakening Currency
5. Video: How Do Exchange Rate Movements Affect Each Group?
6. Quiz 6.1
1. Supply and Demand in Foreign Exchange Markets and Purchasing Power Parity
2. Video: Demand and Supply for the U.S. Dollar and Mexican Peso Exchange Rate
3. Video: Expectations about Future Exchange Rates
4. Video: Differences across Countries in Rates of Return
5. Video: Relative Inflation
6. Quiz 6.2
1. Exchange Rate Dynamics and Their Impact on Aggregate Demand, Supply, and Banking Systems
2. Video: Fluctuations in Exchange Rates
3. Quiz 6.3
1. Exchange Rate Regimes: Tradeoffs, Stability, and Economic Impact
2. Video: A Spectrum of Exchange Rate Policies
3. Video: Floating Exchange Rates
4. Video: How do Tobin taxes control the flow of capital?
5. Video: A Merged Currency
6. Quiz 6.4
1. Video: Exchange Rate Changes
2. Video: Maintaining a fixed exchange Rate
1. Understanding Fiscal Policy: Government Spending, Taxation, and National Debt Dynamics
2. Quiz 6.5
1. Government Spending and Budget Dynamics: Federal, State, and Local Perspectives
2. Quiz 6.6
1. Understanding U.S. Taxation: Federal, State, and Local Revenue Systems
2. Video: Marginal Tax Rate System
3. Video: Payroll Tax
4. Quiz 6.7
1. Understanding Federal Budget Deficits, Surpluses, and the National Debt
2. Quiz 6.8
1. The Role of Fiscal Policy in Shaping Economic Outcomes
2. Video: Fiscal Policy and Interest Rates
3. Quiz 6.9
1. The Role of Fiscal Policy and Automatic Stabilizers in Economic Stability
2. Video: Automatic Stabilizers
3. 6.10 QUIZ
1. Challenges and Dynamics of Fiscal Policy: Interest Rates, Time Lags, and Structural Changes
2. Video: Policy Lags
3. 6.11 QUIZ
1. Balancing the Federal Budget: Economic Arguments and Practical Implications
2. 6.12 QUIZ
1. Lesson Summary
1. Introduction to the Impacts of Government Borrowing
1. Understanding the National Saving and Investment Identity: Budget Surpluses, Deficits, and Their Economic Impacts
2. Video: Total government spending and Taxes as a percentage of GDP
3. Video: The pattern of federal budget deficits and surplus
4. Quiz 7.1
1. The Interplay of Budget Deficits, Trade Deficits, and Macroeconomic Stability
2. Video: Standard deficit and Actual deficit
3. Quiz 7.2
1. Ricardian Equivalence: The Interplay Between Government Borrowing and Private Saving
2. Quiz 7.3
1. The Impact of Fiscal Policy on Investment and Economic Growth
2. Quiz 7.4
1. Global Macroeconomic Policies: Challenges and Approaches to Unemployment, Inflation, and Trade Balance
2. Video: World Income versus Global population
3. Quiz 7.5
1. Measuring and Analyzing Global Economic Diversity: GDP, GNI, and Determinants of Standards of Living
2. Video: Macroeconomics policies around the world
3. Quiz 7.6
1. Economic Growth Policies: Challenges and Strategies for High-Income, Middle-Income, and Economically-Challenged Countries
2. Quiz 7.7
1. Understanding Unemployment: Causes, Natural Rates, and Labor Market Challenges
2. Quiz 7.8
1. Inflation and Economic Stability: Challenges and Policy Responses in High, Middle, and Low-Income Economies
2. Quiz 7.9
1. Global Trade Dynamics: Implications, Challenges, and Economic Reforms
2. Quiz 7.10
1. Globalization and Trade Dynamics: The Complex Interplay of Comparative Advantage and International Markets
2. Quiz 7.11
1. Understanding Absolute and Comparative Advantage: The Foundations of International Trade
2. Video: Comparative Advantage part A
3. Video: Comparative Advantage part B
4. Video: Comparative Advantage part C
5. Video: Opportunity Cost and Comparative Advantage
6. Video: Comparative Advantage
7. Quiz 7.12
1. Comparative Advantage and the Dynamics of International Trade
2. Video: Mutually Beneficial Trade with Comparative Advantage
3. Quiz 7.13
1. Intra-Industry Trade and the Dynamics of Economies of Scale
2. Video: Intra-Industry Trade between Similar Economies
3. Video: Economies of Scale, Competition, Variety
4. QUIZ
1. The Role of Tariffs and Benefits of Reducing Trade Barriers in the Global Economy
2. QUIZ 7.15
1. Lesson Summary
1. Protectionism and International Trade: Challenges, Policies, and Global Implications
1. Analyzing Protectionism: Trade Barriers and Their Economic Impacts
2. Quiz 8.1
1. The Impact of International Trade on Jobs, Wages, and Labor Standards
2. Quiz 8.2
1. Arguments for Restricting Imports: Protectionism and Its Economic Implications
2. Quiz 8.3
1. Global Trade Policies: The Role of WTO, GATT, and Regional Trade Agreements
2. Quiz 8.4
1. Disruptive Market Changes and the Complexity of International Trade
2. Quiz 8.5
1. Lesson Summary
1. Assignment
2. Rubrics for all Questions.
1. Final Exam: Instructions (Important)
2. FINAL EXAM

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Economics 252: Macroeconomics

CHAPTER 1 - Introduction to Economics and Macroeconomic Perspectives

Ch 1.1 Measuring the Size of the Economy: Gross Domestic Product

Ch 1.2 -Adjusting Nominal Values to Real Values

Ch 1.3 - Tracking Real GDP over Time

Ch 1.4 - Comparing GDP among Countries

Ch 1.5-How Well GDP Measures the Well-Being of Society

KEY CONCEPTS AND SUMMARY Chapter 1

CHAPTER 2-Economic Growth and Unemployment

Ch 2.1 -The Relatively Recent Arrival of Economic Growth

Ch 2.2 - Labor Productivity and Economic Growth

Ch 2.3 -Components of Economic Growth

Ch 2.4-Economic Convergence

Ch 2.5-Introduction to Unemployment

Ch 2.6 How Economists Define and Compute Unemployment Rate

Ch 2.7 Patterns of Unemployment

Ch 2.8 What Causes Changes in Unemployment over the Short Run

Ch 2.9 What Causes Changes in Unemployment over the Long Run

KEY CONCEPTS AND SUMMARY CHAPTER 2

CHAPTER 3 - Inflation and International Trade and Capital Flows

Ch 3.1 -Tracking Inflation

Ch 3.2 -How to Measure Changes in the Cost of Living

Ch 3.3 - How the U.S. and Other Countries Experience Inflation

Ch 3.4 -The Confusion Over Inflation

Ch 3.5 - Indexing and Its Limitations

Ch 3.6 - Introduction to the International Trade and Capital Flows

Ch 3.7 -Measuring Trade Balances

Ch 3.8 -Trade Balances in Historical and International Context

Ch 3.9 Trade Balances and Flows of Financial Capital

Ch 3.10 The National Saving and Investment Identity

Ch 3.11-The Pros and Cons of Trade Deficits and Surpluses

Ch 3.12-The Difference between Level of Trade and the Trade Balance

KEY CONCEPTS AND SUMMARY CHAPTER 3

CHAPTER 4 - The Aggregate Demand/Aggregate Supply Model and Macroeconomic Perspectives

Ch 4.1 - Macroeconomic Perspectives on Demand and Supply

Ch 4.2 - Building a Model of Aggregate Demand and Aggregate Supply

Ch 4.3 -Shifts in Aggregate Supply

Ch 4.4 -Shifts in Aggregate Demand

Ch 4.5 -How the AD/AS Model Incorporates Growth, Unemployment, and Inflation

Ch 4.6 -Keynes’ Law and Say’s Law in the AD/AS Model

Ch 4.7 - Introduction to the Keynesian Perspective

Ch 4.8 - Aggregate Demand in Keynesian Analysis

Ch 4.9 - The Building Blocks of Keynesian Analysis

Ch 4.10 - The Phillips Curve

Ch 4.11 - Introduction to the Neoclassical Perspective

Ch 4.12 -The Building Blocks of Neoclassical Analysis

Ch 4.13 - The Policy Implications of the Neoclassical Perspective

Ch 4.14 - Balancing Keynesian and Neoclassical Models

KEY CONCEPTS AND SUMMARY CHAPTER 4

CHAPTER 5 -Money, Banking, and Monetary Policy

Ch 5.1 - Defining Money by Its Functions

Ch 5.2 -Measuring Money: Currency, M1, and M2

Ch 5.3 - The Role of Banks

Ch 5.4 - How Banks Create Money

Ch 5.5 - Introduction to Monetary Policy and Bank Regulation

Ch 5.6 - The Federal Reserve Banking System and Central Banks

Ch 5.7 - Bank Regulation

Ch 5.8 -How a Central Bank Executes Monetary Policy

Ch 5.9 -Monetary Policy and Economic Outcomes

Ch 5.10 - Pitfalls for Monetary Policy

KEY CONCEPTS AND SUMMARY CHAPTER 5

CHAPTER 6 - Exchange Rates, International Capital Flows, and Government Budgets

Ch 6.1 -How the Foreign Exchange Market Works

Ch 6.2 -Demand and Supply Shifts in Foreign Exchange Markets

Ch 6.3 - Macroeconomic Effects of Exchange Rates

Ch 6.4 -Exchange Rate Policies

Extra Videos on Exchange Rates

Ch 6.5 -Introduction to Government Budgets and Fiscal Policy

Ch 6.6 - Government Spending

Ch 6.7 - Taxation

Ch 6.8 - Federal Deficits and the National Debt

Ch 6.9 - Using Fiscal Policy to Fight Recession, Unemployment, and Inflation

Ch 6.10-Automatic Stabilizers

Ch 6.11-Practical Problems with Discretionary Fiscal Policy

Ch 6.12 The Question of a Balanced Budget

KEY CONCEPTS AND SUMMARY CHAPTER 6

CHAPTER 7 -Government Borrowing, Macroeconomic Policy, and Globalization

Ch 7.1 -How Government Borrowing Affects Investment and the Trade Balance

Ch 7.2 -Fiscal Policy and the Trade Balance

Ch 7.3 - How Government Borrowing Affects Private Saving