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ECO100: Macroeconomics

NOTE: All links redirect to Lumen Learning’s Macroeconomics site

Module 1: Economic Thinking

  • 1-1: Why It Matters: Economic Thinking
  • 1-2: Understanding Economics & Scarcity 
  • 1-3: Labor, Markets, and Trade
  • 1-4: Microeconomics & Macroeconomics
  • 1-5: Economic Models
  • 1-6: Purpose of Functions
  • 1-7: Solving Simple Equations
  • 1-8: Creating and Interpreting Graphs
  • 1-9: Interpreting Slope
  • 1-10: Types of Graphs
  • 1-11: Putting It Together: Economic Thinking

Module 2: Choice in a World of Scarcity

  • 2-1: Why It Matters: Choice in a World of Scarcity
  • 2-2: Budget Constraints and Choices
  • 2-3: Calculating Opportunity Cost
  • 2-4: The Production Possibilities Frontier
  • 2-5: Productive Efficiency and Allocative Efficiency
  • 2-6: Rationality and Self-Interest
  • 2-7: Marginal Analysis
  • 2-8: Putting It Together: Choice in a World of Scarcity

Module 3: Supply and Demand

  • 3-1: Why It Matters: Supply and Demand 
  • 3-2: Economic Systems 
  • 3-3: What Is Demand? 
  • 3-4: Factors Affecting Demand 
  • 3-5: What is Supply?
  • 3-5: Factors Affecting Supply
  • 3-6: Equilibrium, Surplus, and Shortage
  • 3-7: Changes in Equilibrium
  • 3-8: Finding Equilibrium
  • 3-9: Changes in Supply and Demand 
  • 3-10: Putting It Together: Supply and Demand

Module 4: Applications of Supply and Demand

  • 4-1: Why It Matters: Applications of Supply and Demand
  • 4-2: Price Ceilings
  • 4-3: Price Floors
  • 4-4: A Closer Look at Price Controls
  • 4-5: Trade and Efficiency
  • 4-6: Consumer & Producer Surplus
  • 4-7: Inefficiency of Price Floors and Price Ceilings 
  • 4-8: Labor and Financial Markets
  • 4-9: Putting It Together: Applications of Supply and Demand

Module 5: Elasticity

  • 5-1: Why It Matters: Elasticity
  • 5-2: Elasticity of Demand
  • 5-3: Examples of Elastic and Inelastic Demand
  • 5-4: Calculating Elasticity and Percentage Changes
  • 5-5: Calculating Price Elasticities Using the Midpoint Formula
  • 5-6: Categories of Elasticity
  • 5-7: Price Elasticity of Supply
  • 5-8: Income Elasticity, Cross-Price Elasticity & Other Types of Elasticities
  • 5-9: Elasticity and Total Revenue
  • 5-10: Elasticity, Costs, and Customers
  • 5-11: Tax Incidence
  • 5-12: Putting It Together: Elasticity

Module 6: Macroeconomic Measures: GDP and Economic Growth

  • 6-1: Why It Matters: GDP and Economic Growth
  • 6-2: The Macroeconomic Perspective
  • 6-3: What is Gross Domestic Product?
  • 6-4: Calculating GDP
  • 6-5: Alternative Ways to Measure the Economy
  • 6-6: The Difference Between Nominal and Real Measurements
  • 6-7: Comparing Nominal and Real GDP
  • 6-8: Converting Nominal to Real GDP
  • 6-9: Business Cycles
  • 6-10: GDP and Standard of Living
  • 6-11: Labor Productivity and Economic Growth
  • 6-12: Measuring Productivity and Growth Rates
  • 6-13: The Power of Sustained Economic Growth
  • 6-14: Relatively Recent Economic Growth
  • 6-15: A Healthy Climate for Economic Growth
  • 6-16: Putting It Together: GDP and Economic Growth

Module 7: Macroeconomic Measures — Unemployment and Inflation

  • 7-1: Why It Matters: Unemployment and Inflation
  • 7-2: Who Counts in Unemployment?
  • 7-3: Calculating the Unemployment Rate
  • 7-4: Patterns of Unemployment
  • 7-5: Cyclical Unemployment
  • 7-6: Frictional and Structural Unemployment
  • 7-7: The Natural Rate of Unemployment
  • 7-8: Inflation
  • 7-9: Calculating Inflation with Index Numbers
  • 7-10: The Consumer Price Index (CPI)
  • 7-11: Shortcomings of the CPI as a Measure of the Cost of Living
  • 7-12: The GDP Deflator and Other Major Price Indices
  • 7-13: Problems with Inflation
  • 7-14: Benefits of Low Inflation
  • 7-15: Putting It Together: Inflation and Unemployment

Module 8: The Aggregate Demand-Aggregate Supply Model

  • 8-1: Why It Matters: The Aggregate Demand-Aggregate Supply Model
  • 8-2: The Aggregate Demand-Aggregate Supply Model
  • 8-3: Building a Model of Aggregate Supply and Aggregate Demand
  • 8-4: Interpretung the AD-AS Model
  • 8-5: Shifts in Aggregate Demand
  • 8-6: Shifts in Aggregate Supply
  • 8-7: Business Cycles and Growth in the AD-AS Model
  • 8-8: Putting It Together: The Aggregate Demand-Aggregate Supply Model

Module 9: Keynesian and Neoclassical Economics

  • 9-1: Why It Matters: Keynesian and Neoclassical Economics
  • 9-2: Aggregate Demand in Keynesian Analysis
  • 9-3: The Core of Keynesian Analysis
  • 9-4: The Expenditure Multiplier Effect
  • 9-5: Keynesian Economic Policy
  • 9-6: The Neoclassical Perspective
  • 9-7: The Neoclassical Perspective and Potential GDP
  • 9-8: Flexible Prices and Graphing in the Neoclassical Model
  • 9-9: Speed of Macroeconomic Adjustment
  • 9-10: Policy Implications of the Neoclassical Perspective
  • 9-11: Say’s Law versus Keynes’ Law
  • 9-12: Neoclassical and Keynesian Perspectives in the AD-AS Model
  • 9-13: Balancing Keynesian and Neoclassical Models
  • 9-14: Putting It Together: Keynesian and Neoclassical Economics

Module 10: Keynesian Economics and the Income Expenditure Model

  • 10-1: Why It Matters: The Income-Expenditure Model
  • 10-2: The Key Role of Aggregate Expenditure
  • 10-3: Aggregate Expenditure: Consumption
  • 10-4: Aggregate Expenditure: Investment, Government Spending, and Net Exports
  • 10-5: Equilibrium in the Income-Expenditure Model
  • 10-6: Finding Equilibrium Using Algebra
  • 10-7: Recessionary and Inflationary Gaps in the Income-Expenditure Model
  • 10-8: Real Aggregate Supply in the Income-Expenditure Model
  • 10-9: The Spending Multiplier in the Income-Expenditure Model
  • 10-10: The Spending Multiplier and Changes in Government Spending
  • 10-11: Putting It Together: The Income-Expenditure Model

Module 11: Fiscal Policy

  • 11-1: Why It Matters: Fiscal Policy
  • 11-2: Fiscal Policy and the Federal Budget
  • 11-3: Government Spending
  • 11-4: State and Local Government Spending
  • 11-5: Taxation
  • 11-6: Federal Budgets and National Debt
  • 11-7: The Question of a Balanced Budget
  • 11-8: Automatic Stabilizers
  • 11-9: Expansionary and Contractionary Fiscal Policy
  • 11-10: Neoclassical Fiscal Policy and Supply-Side Economics
  • 11-11: Fiscal Policy, Investment, and Crowding Out
  • 11-12: Putting It Together: Fiscal Policy

Module 12: Money and Banking

  • 12-1: Why It Matters: Money and Banking
  • 12-2: Defining Money by Its Functions
  • 12-3: Measuring Money: Currency, M1, and M2
  • 12-4: Credit
  • 12-5: Financial Markets and Assets
  • 12-6: Financial Markets, Supply and Demand, and Interest
  • 12-7: The Commercial Banking System
  • 12-8: Banking Assets and Liabilities
  • 12-9: How Banks Create Money
  • 12-10: Putting It Together: Money and Banking

Module 13: Monetary Policy

  • 13-1: Why It Matters: Monetary Policy
  • 13-2: Banks, Loan Finance, and the Payments System
  • 13-3: The Federal Reserve System and Central Banks
  • 13-4: Bank Regulation
  • 13-5: Monetary Policy
  • 13-6: Monetary Policy and Open Market Operations
  • 13-7: Monetary Policy and Interest Rates
  • 13-8: Monetary Policy and Aggregate Demand
  • 13-9: Federal Reserve Actions and Quantitative Easing
  • 13-10: Putting It Together: Monetary Policy

Module 14: Policy Applications

  • 14-1 Why It Matters: Policy Applications
  • 14-2: Viewpoints on Government Policy
  • 14-3: The Phillips Curve
  • 14-4: Policy Implications: No Phillips Curve Tradeoff in the Long Run
  • 14-5: Rational Expectations
  • 14-6: Ricardian Equivalence
  • 14-7: Practical Problems with Discretionary Fiscal and Monetary Policy
  • 14-8: Policy Implications: Dampening Business Cycles vs. Laissez-Faire
  • 14-9: Policy Implications: Supply Shocks and Economic Growth
  • 14-10: Putting It Together: Policy Application

Module 15: Globalization and Trade

  • 15-1: Why It Matters: Globalization and International Trade
  • 15-2: Absolute and Comparative Advantage
  • 15-3: Comparative Advantage and the Gains from Trade
  • 15-4: Intra-Industry Trade
  • 15-5: Demand and Supply Analysis of International Trade
  • 15-6: Protectionism
  • 15-7: The Tradeoffs of International Trade
  • 15-8: The Role of the GATT in Reducing Barriers to Trade
  • 15-9: Trade Policy: Organizations and Agreements
  • 15-10: Putting It Together: Globalization and International Trade

Module 16: Exchange Rates and International Finance

  • 16-1: Why It Matters: Exchange Rates and International Finance
  • 16-2: The Foreign Exchange Market
  • 16-3: Strengthening and Weakening Currency
  • 16-4: Demand and Supply Shifts in Foreign Exchange Markets
  • 16-5: Macroeconomic Effects of Exchange Rates
  • 16-6: Exchange-Rate Policies
  • 16-7: Putting It Together: Exchange Rates and International Finance

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Mark’s Courses

Penn Highlands Community College
BUS110: Introduction To Business
BUS125: Management Principles
BUS206: Operations Management
ECO100: Macroeconomics
ACP100: Academic & Career Planning

Southern New Hampshire University
MKT113: Introduction To Marketing
MKT205: Applied Marketing Strategies
MKT229: Integrated Marketing Communications

CONTACT

Penn Highlands:
mparfitt@pennhighlands.edu

SNHU:
m.parfitt@snhu.edu

Phone/Text/Signal:
814-404-3144

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