Positive and Normative Statements
Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency
PPF - Outward Shifts
PPF - Comparative Advantage and Absolute Advantage
PPF - Comparative Advantage and Trade
Introduction to Supply and Demand
The Basics of Demand
Shifting Demand
The Basics of Supply
Shifting Supply
Supply and Demand Together: Equilibrium, Shortage, and Surplus
WIllingness to Pay and Consumer Surplus
Willingness to Sell and Producer Surplus
Economic Surplus and Efficiency
Price Ceilings, Price Floors, and Black Markets
Introducing Taxes and Tax Incidence
Effects of Taxes on a Market
Expenditure Approach for Measuring GDP
Detailed Explanation of GDP Components
Nominal GDP and Real GDP
Shortcomings of GDP
Labor Force and Unemployment
Types of Unemployment
Inflation and Consumer Price Index (CPI)
Using CPI to Adjust for Inflation
Nominal Income and Real Income
The Consumption Function
The Saving Function
Determinants of Consumption and Saving
Multiplier Effect of Investment Spending
Aggregate Expenditures Model and Macroeconomic Equilibrium
AE Model: Graphing Macroeconomic Equilibrium
AE Model: Private Closed Economy
AE Model: Private Open Economy
AE Model and the Multiplier
Aggregate Demand
Deriving Aggregate Demand from the Aggregate Expenditure Model
Shifting Aggregate Demand
Long Run Aggregate Supply
Short Run Aggregate Supply
Shifting Short Run Aggregate Supply
AD-AS Model: Equilibrium in the Short Run and Long Run
AD-AS Model: Shifts in Aggregate Demand
The Functions of Money; The Kinds of Money
Defining the Money Supply: M1 and M2
Required Reserves and the Deposit Multiplier
Introduction to the Federal Reserve
The Federal Reserve and the Money Supply
History of the US Banking System
The Financial Crisis of 2007-2009 (The Great Recession)
Monetary vs Fiscal Policy
Goals of Monetary Policy
The Demand for Money
The Money Supply on the Graph
Monetary Policy and Aggregate Demand
Expansionary and Contractionary Monetary Policy
Quantity Theory of Money
Federal Reserve Policies during the 2007-2009 Recession
Introduction to Fiscal Policy
Expansionary and Contractionary Fiscal Policy
Government Purchases and the Multiplier Effect
Taxes, the Multiplier Effect, and Automatic Stabilizers
Long Run Effects of Fiscal Policy
Criticisms of Fiscal Policy
The Laffer Curve
Short Run Phillips Curve
Long Run Phillips Curve
Phillips Curve and Expected Inflation
Phillips Curve and Supply Shocks
Sacrifice Ratio
Disinflation and Deflation
Long-Run Economic Growth
Growth Rates and the Rule of 70
Institutions that Promote Economic Growth
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