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Macroeconomics Macroeconomics

Macroeconomics Krugman & Wells • 5th Edition • 978-1319098759

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Ch. 1 - First Principles

Introduction to Economics Three Key Economic Ideas Productive and Allocative Efficiency Graphing Review Percentage and Decimal Review Fractions Review

Ch. 2 - Economic Models: Trade-offs and Trade

Positive and Normative Statements Circular Flow Diagram 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 PPF - Price of the Trade

Ch. 3 - Supply and Demand

Introduction to Supply and Demand The Basics of Demand Individual Demand and Market Demand Shifting Demand The Basics of Supply Individual Supply and Market Supply Shifting Supply Big Daddy Shift Summary Supply and Demand Together: Equilibrium, Shortage, and Surplus Supply and Demand Together: One-sided Shifts Supply and Demand Together: Both Shift

Ch. 4 - Price Controls and Quotas: Meddling with Markets

Price Ceilings, Price Floors, and Black Markets

Ch. 5 - International Trade

Exporting and Importing Sources of Comparative Advantage Tariffs on Imports Import Quotas and VERs Arguments Against International Trade

Ch. 6 - Macroeconomics: The Big Picture

Introducing Concepts - Business Cycle Introducing Concepts - Unemployment and Inflation Introducing Concepts - Economic Growth Introducing Concepts - Trade Deficit and Surplus Introducing Concepts - Monetary Policy and Fiscal Policy

Ch. 7 - GDP and the CPI: Tracking the Macroeconomy

Introduction to Economics Calculating GDP Detailed Explanation of GDP Components Nominal GDP and Real GDP Shortcomings of GDP Consumer Price Index (CPI) Using CPI to Adjust for Inflation Problems with the Consumer Price Index (CPI)

Ch. 8 - Unemployment and Inflation

Labor Force and Unemployment Types of Unemployment Labor Unions and Collective Bargaining Unemployment: Minimum Wage Laws and Efficiency Wages Unemployment Trends Nominal Interest, Real Interest, and the Fisher Equation Who is Affected by Inflation? Costs of Inflation: Shoe-leather Costs and Menu Costs Introducing Concepts - Business Cycle Business Cycles and Their Characteristics

Ch. 9 - Long-run Economic Growth

Productivity and the Per-Worker Production Function Institutions that Promote Economic Growth Growth Rates and the Rule of 70

Ch. 10 - Savings, Investment Spending, and the Financial System

Financial System Definitions Savings Equal Investment Market for Loanable Funds Shifts in the Market for Loanable Funds Stocks, Bonds, and Mutual Funds Risk and Diversification Nominal Interest, Real Interest, and the Fisher Equation

Ch. 10 Appendix - Toward a Fuller Understanding of Present Value

Time Value of Money Calculations Calculating Bond and Stock Prices

Ch. 11 - Income and Expenditure

The Consumption 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 and the Multiplier AE Model: Algebraic Approach

Ch. 11 Appendix - Deriving the Multiplier Algebraically

Deriving the Multiplier Algebraically

Ch. 12 - Aggregate Demand and Aggregate Supply

Aggregate Demand 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

Ch. 13 - Fiscal Policy

Introduction to Fiscal Policy Expansionary and Contractionary Fiscal Policy Government Purchases and the Multiplier Effect Budget Surplus and Budget Deficit Criticisms of Fiscal Policy

Ch. 13 Appendix - Taxes and the Multiplier

Taxes, the Multiplier Effect, and Automatic Stabilizers

Ch. 14 - Money, Banking, and the Federal Reserve System

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)

Ch. 15 - Monetary Policy

The Demand for Money The Money Supply on the Graph Monetary Policy and Aggregate Demand Expansionary and Contractionary Monetary Policy Taylor Rule

Ch. 16 - Inflation, Disinflation, and Deflation

Short Run Phillips Curve Long Run Phillips Curve Phillips Curve and Expected Inflation Phillips Curve and Supply Shocks Disinflation and Deflation

Ch. 17 - Crises and Consequences

Shadow Banking Banking Crises and Financial Panics Aftermath of the 2008 Recession

Ch. 18 - Macroeconomics: Events and Ideas

Classical Model and Keynesian Model Monetarist Model Quantity Theory of Money New Classical Model Real Business Cycle Model Communism and Karl Marx

Ch. 19 - Open-Economy Macroeconomics

Balance of Payments: Introduction Balance of Payments: Current Account Balance of Payments: Financial Account and Capital Account Balance of Trade; Trade Deficit and Trade Surplus Exchange Rates: Introduction Exchange Rates: Nominal and Real Exchange Rates: Equilibrium Exchange Rates: Shifts in Supply and Demand Exchange Rates and Net Exports Exchange Rates: Fixed, Flexible, and Managed Float Exchange Rates: Purchasing Power Parity

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