Macroeconomics

‭Contents‬ ‭Chapter 1:‬ ‭Basic Economic Concepts‬

‭1‬

‭A. Basic Defnitions of Economic Principles‬

‭1‬ ‭4‬ ‭5‬ ‭8‬ ‭9‬

‭B. The Economy‬

‭C. Factors of Production‬

‭D. Scarcity, Choice, and Opportunity Costs‬ ‭E. Production Possibilities Curve (PPC)‬

‭F. Comparative Advantage, Specialization, and Exchange‬

‭18‬ ‭23‬ ‭25‬ ‭42‬

‭G. Gains from Trade‬

‭H. Demand, Supply, and Market Equilibrium‬

‭Chapter 1: Review Questions‬

‭Chapter 2:‬ ‭Measurement of Economic Performance‬

‭45‬

‭A. Introduction to Economic Performance‬

‭45‬ ‭46‬ ‭57‬ ‭70‬ ‭74‬ ‭78‬ ‭82‬ ‭83‬ ‭89‬ ‭96‬ ‭77‬

‭B. National Income Accounts‬

‭C. Inflation Measurement and Adjustment‬

‭D. Unemployment‬

‭Chapter 2: Review Questions‬

‭Chapter 3:‬ ‭National Income and Price Determination‬

‭A. Aggregate Demand (AD)‬

‭B. Business Cycles and Economic Fluctuations‬

‭C. Multiplier and Crowding-Out Effects‬

‭D. Aggregate Supply (AS)‬

‭E. Macroeconomic Equilibrium‬ ‭F. Self-Correction of Output Gaps‬

‭102‬ ‭104‬ ‭108‬

‭G. Long-Run Self-Adjustments in the AD-AS Model‬

‭Chapter 3: Review Questions‬

‭Chapter 4:‬ ‭Financial Sector‬

‭111‬

‭A. Defnition of Financial Assets: Money, Stocks, and Bonds‬ ‭B. Time Value of Money (Present and Future Value)‬

‭111‬ ‭116‬ ‭117‬ ‭119‬ ‭122‬ ‭125‬ ‭128‬ ‭131‬ ‭133‬

‭C. Measures of Money Supply‬

‭D. Financial Institutions‬

‭E. Banks and Creation of Money‬

‭F. Money Demand‬ ‭G. Money Market‬

‭H. Real vs. Nominal Interest Rates‬

‭I. Loanable Funds Market‬