Macroeconomics Principles (ECO 2013)

Overview of Chapter and Section Videos:
Section 1.01 What is Economics About
Section 1.02 Microeconomics vs. Macroeconomics
Section 1.02 (b) Microeconomics vs. Macroeconomics Questions Section 1.03 Model Building
Section 1.03 (b) Model Building Questions
Section 1.04 Ceteris Paribus Assumption
Section 1.05 More Economic Assumptions
Section 1.06 Efficiency vs. Equity
Section 1.07 Positive vs. Normative Questions
Section 1.07 (b) Positive vs. Normative Questions Questions Section 1.08 Key Principles 1-2
Section 1.08(b) Key Principles 1-2 Questions
Section 1.09 Key Principles 3-4
Section 1.10 Key Principles 5-6
Section 1.10 (b) Key Principles 5-6 Questions
Section 1.11 Key Principles 7-8
Section 2.01 Basic Economic Questions and Production
Section 2.02 Economic Distribution Systems
Section 2.03 Resources and Production
Section 2.04 The Production Process
Section 2.05 Production and Efficiency
Section 2.06 The Production Possibilities Frontier
Section 2.07 How to Graph PPFs
Section 2.08 Areas of the PPF
Section 2.09 Opportunity Cost with the PPF
Section 2.10 A More Realistic Production Possibilites Frontier
Section 2.11 Opportunity Costs with the Concave PPF
Section 2.12 Economic Growth with the PPF
Section 2.13 Asymmetric Shifts of the PPF
Section 2.14 Negative Shifts of the PPF
Section 2.15 Is a Recession a Negative PPF Shift
Section 2.16 Specialization and Trade
Section 2.17 Trade Terminology
Section 2.18 Who has the Absolute and Comparative Advantage with PPFs
Section 2.19 Who has the Absolute and Comparative Advantage with Tables
Section 2.19 (b) Who has the Absolute and Comparative Advantage with Tables Quest
Section 2.19 (c) Who has the Absolute and Comparative Advantage with Tables Quest
Section 2.20 The Gains from Trade
Section 3.01 Markets
Section 3.02 The Price System
Section 3.03 Demand
Section 3.04 How to Graph Demand Curves
Section 3.05 Willingness to Pay
Section 3.06 How to Derive Market Demand
Section 3.07 The Law of Demand
Section 3.08 Demand Curves and Demand Schedules
Section 3.09 Horizontal Summation (Demand)
Section 3.10 Determinants of Demand
Section 3.11 Determinants of Demand - Tastes and Preferences
Section 3.12 Determinants of Demand - Income
Section 3.13 Determinants of Demand - Prices of Related Goods
Section 3.14 Determinants of Demand - Number of Buyers
Section 3.15 Determinants of Demand - Expectations
Section 3.16 Change in Demand vs. Change in Quantity Demanded Section 3.17 Supply
Section 3.18 How to Graph Supply Curves
Section 3.19 The Law of Supply
Section 3.20 Supply Curves and Supply Schedules
Section 3.21 Horizontal Summation (Supply)
Section 3.22 Determinants of Supply
Section 3.23 Determinants of Supply - Production Technology
Section 3.24 Determinants of Supply - Cost of Resources
Section 3.25 Determinants of Supply - Prices of Related Commodities
Section 3.26 Determinants of Supply - Expectations
Section 3.27 Determinants of Supply - Number of Sellers
Section 3.28 Determinants of Supply - Taxes and Subsidies
Section 3.29 Change in Supply vs. Change in Quantity Supplied Section
Section 3.30 Market Equilibrium Section
Section 3.31 Market Surplus Section
Section 3.32 Market Shortage
Section 3.33 Market Equilibrium with Supply Shifts
Section 3.34 Market Equilibrium with Demand Shifts
Section 3.35 Market Equilibrium with Simultaneous Shifts
Section 3.36 Graphing Market Equilibrium with Simultaneous Shifts
Section 3.36 (b) Graphing Market Equilibrium with Simultaneous Shifts Questions
Section 3.37 Market Equilibrium with Asymmetric Shifts
Section 3.38 Graphing Market Equilibrium with Asymmetric Shifts
Section 3.39 Applications of Supply and Demand
Section 4.01 Consumer Surplus
Section 4.02 Producer Surplus
Section 4.03 How to Calculate Total Consumer and Producer Surplus
Section 4.04 Identifying Consumer and Producer Surplus on a Graph
Section 4.05 Calculating Consumer and Producer Surplus on a Graph
Section 4.06 Total Surplus
Section 4.06 (b) Total Surplus Questions
Section 4.07 Welfare When Price Exceeds Equilibrium
Section 4.08 Welfare When Price Exceeds Equilibrium Calculation
Section 4.09 Welfare When Price Falls Below Equilibrium
Section 4.10 Welfare When Price Falls Below Equilibrium Calculation
Section 4.11 Market Failures
Section 4.12 Market Failures - Lack of Competition
Section 4.13 Market Failures - Asymmetric Information
Section 4.14 Market Failures - Externalities
Section 4.15 Market Failures - Public Goods
Section 4.16 Price Controls
Section 4.17 Price Ceilings
Section 4.18 Non-Binding Price Ceilings
Section 4.19 Price Floors
Section 4.20 Non-Binding Price Floors
Section 4.21 Misallocation of Resources
Section 5.01 What is a Business Cycle
Section 5.02 Phases of the Business Cycle
Section 5.02(b) How are Recessions Formally Defined
Section 5.03 Dating Business Cycles
Section 5.04 Double-Dip Recessions
Section 5.05 How to Predict Recessions - National Activity Index
Section 5.05 (b) How to Predict Recessions - National Activity Index Press Release
Section 5.06 How to Predict Recessions - Leading Economic Index
Section 5.06 (b) How to Predict Recessions - Leading Economic Index Press Release
Section 5.07 How to Predict Recessions - Yield Curve
Section 5.07 (b) How to Predict Recessions - Yield Curve Application
Section 5.08 Circular Flow Diagram
Section 5.09 Gross Domestic Product (GDP)
Section 5.10 Final Goods vs. Intermediate Goods Section 5.11 Gross National Product (GNP)
Section 5.11(b) GDP or GNP Questions
Section 5.12 Expenditure Approach to GDP
Section 5.13 Categories of GDP - Personal Consumption Expenditures
Section 5.14 Categories of GDP - Gross Private Domestic Income
Section 5.15 Categories of GDP - Government Expenditures
Section 5.16 Categories of GDP - Net Exports
Section 5.17 Expenditure Approach to GDP - How to Read GDP Press Release
Section 5.18 Income Approach to GDP
Section 5.19 Income Approach to GDP - How to Read GDP Press Release
Section 5.20 Net Domestic Product
Section 5.21 Personal Income
Section 5.22 Disposable Income
Section 5.23 GDP and the Standard of Living
Section 5.24 Real GDP and Purchasing Power Parity
Section 5.25 GDP per Capita
Section 5.26 The Informal Economy and Nonmarket Activities
Section 6.01 What is Inflation
Section 6.02 What Causes Inflation
Section 6.03 Classifications of Inflation
Section 6.04 Measures of Inflation
Section 6.05 Consumer Price Index (CPI)
Section 6.06 Calculating CPI
Section 6.07 Calculating Inflation Using CPI
Section 6.08 Calculating Inflation - How to Read CPI Press Releases
Section 6.09 Problems with CPI Measures
Section 6.10 Producer Price Index (PPI)
Section 6.11 Calculating Inflation - How to Read PI Press Releases
Section 6.12 GDP Deflator
Section 6.13 Calculating Inflation Using GDP Deflator
Section 6.14 How to Convert Nominal Values to Real Values
Section 6.15 Who Wins and Who Loses with Inflation
Section 6.15 (b) Who Wins and Who Loses with Inflation Questions
Section 6.16 Escalator Clauses
Section 6.17 Hyperinflation
section UT Unemplovment
Section 7.02 Defining Unemployment
Section 7.03 Measuring Unemployment
Section 7.03(b) Measuring Unemployment Questions
Section 7.04 Monthly Employment Surveys
Section 7.05 The Employment Situation - How to Read Unemployment Press Releases
Section 7.06 Employment Trends - Weekly Jobs Report
Section 7.07 Employment Trends - How to Read Weekly Jobs Report Press Release
Section 7.08 Problems with Unemployment Statistics
Section 7.09 What Causes Unemployment
Section 7.10 Types of Unemployment
Section 7.11 Natural Rate of Unemployment
Section 8.01 Economic Growth
Section 8.02 How is Economic Growth Measured
Section 8.03 Classifications of Economic Growth
Section 8.04 Economic Growth - How to Read GDP Growth Press Releases
Section 8.05 The Power of Compounding
Section 8.06 Rule of 70
Section 8.06(b) Rule of 70 Questions - Futurama
Section 8.06(c) Rule of 70 Questions - Comparing Growth Rates
Section 8.07 Short-Run vs. Long-Run Economic Growth
Section 8.08 Achieving Long-Run Economic Growth - Factors of Production
Section 8.09 Production Function - Classical Form
Section 8.10 Production Function - General Form
Section 8.11 How to Measure Productivity
Section 8.12 Increasing Productivity - Land
Section 8.13 Increasing Productivity - Labor
Section 8.14 Increasing Productivity - Human Capital
Section 8.15 Increasing Productivity - Physical Capital
Section 8.16 Increasing Productivity - Technology and Ideas
Section 8.17 How Does the Government Promote Economic Growth - Contributors
Section 8.18 How Does the Government Promote Economic Growth - Facilitators
Section 8.19 How Does the Government Promote Economic Growth - Promoters
Section 9.01 The Classical Model vs. The Keynesian Model
Section 9.02 Aggregate Expenditures
Section 9.03 Keynesian Consumption Function
Section 9.04 Average Propensity to Consume and Average Propensity to Save
Section 9.05 Marginal Propensity to Consume and Marginal Propensity to Save
Section 9.06 APC APS MPC MPS Questions
Section 9.07 Kevnesian Investment Function
Section 9.08 Simple Aggregate Expenditures Equilibrium
Section 9.09 Simple Aggregate Expenditures Equilibrium (Continued)
Section 9.10 The Spending Multiplier
Section 9.10 (b) The Spending Multiplier Questions
Section 9.11 Paradox of Thrift
Section 9.12 Keynesian Government Spending Function
Section 9.13 Tax Changes in the Keynesian Model
Section 9.14 Balanced Budget Multiplier
Section 9.15 Keynesian Net Exports Function
Section 9.16 Full Keynesian Macroeconomic Equilibrium
Section 9.17 GDP Gaps
Section 9.18 Recessionary Gaps
Section 9.19 Inflationary Gaps
Section 10.01 The Origins of Macroeconomics
Section 10.02 Aggregate Demand

Section 10.03 Why is the Aggregate Demand Curve Downward Sloping

Section 10.04 Determinants of Aggregate Demand
Section 10.05 Determinants of Aggregate Demand - Consumption
Section 10.06 Determinants of Aggregate Demand - Investment
Section 10.07 Determinants of Aggregate Demand - Government Spending
Section 10.08 Determinants of Aggregate Demand - Net Exports
Section 10.09 Aggregate Supply

Section 10.10 Long-Run Aggregate Supply
Section 10.11 Position of the LAS Curve
Section 10.12 Determinants of LAS
Section 10.13 Short-Run Aggregate Supply
Section 10.14 Determinants of Short-Run Aggregate Supply
Section 10.15 Determinants of SRAS - Input Prices
Section 10.16 Determinants of SRAS - Productivity
Section 10.17 Determinants of SRAS - Taxes and Regulations
Section 1019 Determinants of SRAS - Market Power
Section 10.19 Determinants of SRAS - Inflationary Expectations
Section 10.20 Macroeconomic Equilibrium
Section 10.21 Shifts in Macroeconomic Equilibrium
Section 10.22 Demand-Pullination
Section 10.23 Cost-Push Inflation
Section 11.01 What is Fiscal Policy
Section 11.02 Types of Government Spending
Section 11.03 Discretionary Fiscal Policy
Section 11.04 Expansionary Fiscal Policy
Section 11.05 Contractionary Fiscal Policy
Section 11.06 - Supply-Side Fiscal Policy
Section 11.07 Examples of Supply-Side Fiscal Policies

Section 11.08 The Laffer Curve
Section 11.09 Automatic Stabilizers
Section 11.10 Fiscal Policy Timing Lags
Section 11.11 Public Choice Theory
Section 11.12 Deficit vs. Surplus vs. Debt
Section 11.13 A History of U.S. Deficits, Surpluses, and Debt Section 11.14 Types of Balanced Budget Amendments Section 11.15 How Does the Government Finance its Deficits
Section 11.16 Is the Size of the National Debt a Problem
Section 11.17 How can a Government Deficit Create Wealth Inequality
Section 11.18 Who Owns the U.S. National Debt
Section 11.19 The Crowding-Out Effect
Section 11.20 How Will the National Debt Affect Our Future
Section 12.01 What is Money
Section 12.02 The Functions of Money
Section 12.03 Ways to Store Wealth
Section 12.04 Defining the Money Supply - M1
Section 12.05 Defining the Money Supply - M2
Section 12.06 The Market for Loanable Funds (Money)
Section 12.07 Determinants of Supply of Loanable Funds
Section 12.08 Determinants of Demand of Loanable Funds
Section 12.09 Shifts in Equilibrium in the LF Market
Section 12.10 The Financial System
Section 12.11 The Roles of Financial Institutions
Section 12.12 Types of Financial Assets
Section 12.13 The Bond Market
Section 12.14 How to Price Bonds
Section 12.15 The Stock Market
Section 12.16 How to Price Stocks

Section 12.17 Simble Interst vs. Compound Interest
Section 12.18 Types of Retirement Programs - 401 (k)
Section 12.19 Types of Retirement Programs - Social Security
Section 12.20 Types of Retirement Programs - Pensions
Section 12.21 Types of Retirement Programs - IRAs
Section 13.01 How Do Banks Create Money
Section 13.02 Some Banking Terminology
Section 13.03 A Big Banking Problem
Section 13.04 The Fractional Reserve Banking System
Section 13.05 The Potential Money Multiplier
Section 13.06 Money Leakages
Section 13.07 The Actual Money Multiplier
Section 13.08 The Federal Reserve System
Section 13.09 The Structure of the Federal Reserve

Section 13.10 Tools of the Federal Reserve
Section 13.11 Monetary Policy Timing Lags

Section 14.01 What is Monetary Policy

Section 14.02 Expansionary Monetary Policy
Section 14.03 Contractionary Monetary Policy

Section 14.04 Monetary vs. Fiscal Policy - An Overview of Economic Theories
Section 14.05 The Classical Model
Section 14.06 The Keynesian Model
Section 14.07 The Monetarist Model
Section 14.08 Monetary Policy and Economic Shocks - Demand Shocks

Section 14.09 Monetary Policy and Economic Shocks - Supply Shocks

Section 14.10 Monetary Rules vs. Discretion
Section 14.11 The Taylor Rule

Section 14.12 The Politicization of Monetary Policy

Section 14.13 The Phillips Curve

Section 14.14 The Phillips Curve and Expectations
Section 14.15 The Expectations-Augmented Phillips Curve
Section 15.01 International Trade and Open-Economy Macroeconomics
Section 15.02 Specialization and Trade
Section 15.03 Trade Terminology
Section 15.04 Who has the Absolute and Comparative Advantage with PPFs
Section 15.05 Who has the Absolute and Comparative Advantage with Tables
Section 15.06 The Gains from Trade
Section 15.07 The Terms of Trade
Section 15.08 Who Wins and Who Loses with International Trade
Section 15.09 How Trade is Restricted
Section 15.10 Effects of a Tariff on the Economy
Section 15.11 Effects of a Quota on the Economy
Section 15.12 The Balance of Payments
Section 15.13 The Balance of Payments - How to Read the Balance of Payments Press
Section 15.14 Exchange Rates
Section 15.15 Purchasing Power Parity Exchange Rates
Section 15.16 The Market for Foreign Exchange Section 15.17 Determinants of Foreign Exchange
Section 15.18 Types of Exchange Rate Systems
Section 15.19 Fiscal and Monetary Policy Under Fixed Exchange Rates
Section 15.20 Fiscal and Monetary Policy Under Flexible Exchange Rates