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Attribution Note
Introduction
1.1 What Is Economics, and Why Is It Important?
1.2 Microeconomics and Macroeconomics
1.3 How Economists Use Theories and Models to Understand Economic Issues
1.4 The Production Possibilities Frontier
1.5 An Overview of Economic Systems
KEY CONCEPTS AND SUMMARY
KEY TERMS
QUESTIONS AND PROBLEMS
SOLUTIONS TO SELF-CHECK QUESTIONS
Introduction to Demand and Supply
2.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
2.2 Shifts in Demand and Supply for Goods and Services
2.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
2.4 Price Ceilings and Price Floors
Introduction to the Macroeconomic Perspective
3.1 Measuring the Size of the Economy: Gross Domestic Product
3.2 Adjusting Nominal Values to Real Values
3.3 Tracking Real GDP over Time
3.4 Comparing GDP among Countries
3.5 How Well GDP Measures the Well-Being of Society
Introduction to Economic Growth
4.1 The Relatively Recent Arrival of Economic Growth
4.2 Labor Productivity and Economic Growth
4.3 Components of Economic Growth
4.4 Economic Convergence
Introduction to Unemployment
5.1 How Economists Define and Compute Unemployment Rate
5.2 Patterns of Unemployment
5.3 What Causes Changes in Unemployment over the Short Run
5.4 What Causes Changes in Unemployment over the Long Run
Introduction to Inflation
6.1 Tracking Inflation
6.2 How to Measure Changes in the Cost of Living
6.3 How the U.S. and Other Countries Experience Inflation
6.4 The Confusion Over Inflation
6.5 Indexing and Its Limitations
Introduction to the Keynesian Perspective
7.1 The Expenditure-Output Model
7.2 The Building Blocks of Keynesian Analysis
7.3 Aggregate Demand in Keynesian Analysis
7.4 The Keynesian Perspective on Market Forces
Introduction to the Aggregate Supply–Aggregate Demand Model
8.1 Macroeconomic Perspectives on Demand and Supply
8.2 Building a Model of Aggregate Demand and Aggregate Supply
8.3 Shifts in Aggregate Supply
8.4 Shifts in Aggregate Demand
8.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
8.6 Keynes’ Law and Say’s Law in the AD/AS Model
Introduction to the Neoclassical Perspective
9.1 The Building Blocks of Neoclassical Analysis
9.2 The Phillips Curve
9.3 The Policy Implications of the Neoclassical Perspective
9.4 Balancing Keynesian and Neoclassical Models
Introduction to Government Budgets and Fiscal Policy
10.1 Government Spending
10.2 Taxation
10.3 Federal Deficits and the National Debt
10.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
10.5 Automatic Stabilizers
10.6 Practical Problems with Discretionary Fiscal Policy
10.7 The Question of a Balanced Budget
Introduction to Money and Banking
11.1 Defining Money by Its Functions
11.2 Measuring Money: Currency, M1, and M2
11.3 The Role of Banks
11.4 How Banks Create Money
Introduction to Monetary Policy and Bank Regulation
12.1 The Federal Reserve Banking System and Central Banks
12.2 Bank Regulation
12.3 How a Central Bank Executes Monetary Policy
12.4 The Fed's New Monetary Policy Tools
12.5 Monetary Policy and Economic Outcomes
12.6 Pitfalls for Monetary Policy
Introduction to International Trade
13.1 Absolute and Comparative Advantage
13.2 What Happens When a Country Has an Absolute Advantage in All Goods
13.3 Intra-industry Trade between Similar Economies
13.4 Protectionism: An Indirect Subsidy from Consumers to Producers
13.5 International Trade and Its Effects on Jobs, Wages, and Working Conditions
13.6 Arguments in Support of Restricting Imports
13.7 The Tradeoffs of Reducing Barriers to International Trade
13.8 How Governments Enact Trade Policy: Globally, Regionally, and Nationally
Introduction to the International Trade and Capital Flows
14.1 Measuring Trade Balances
14.2 Trade Balances in Historical and International Context
14.3 Trade Balances and Flows of Financial Capital
14.4 The National Saving and Investment Identity
14.5 The Pros and Cons of Trade Deficits and Surpluses
14.6 The Difference between Level of Trade and the Trade Balance
Appendix A: The Use of Mathematics in Principles of Economics
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UH Macroeconomics 2022 Copyright © by Terianne Brown and Cynthia Foreman is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.