Course Modules

Chapter 1

Chapter 1
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    1 Introduction 1 Introduction
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    1.1 What Is Economics, and Why Is It Important? 1.1 What Is Economics, and Why Is It Important?
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    1.2 Microeconomics and Macroeconomics 1.2 Microeconomics and Macroeconomics
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    1.3 How Economists Use Theories and Models to Understand Economic Issues 1.3 How Economists Use Theories and Models to Understand Economic Issues
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    1.4 How To Organize Economies: An Overview of Economic Systems 1.4 How To Organize Economies: An Overview of Economic Systems
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Chapter 2

Chapter 2
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    2 Introduction to Choice in a World of Scarcity 2 Introduction to Choice in a World of Scarcity
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    2.1 How Individuals Make Choices Based on Their Budget Constraint 2.1 How Individuals Make Choices Based on Their Budget Constraint
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    2.2 The Production Possibilities Frontier and Social Choices 2.2 The Production Possibilities Frontier and Social Choices
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    2.3 Confronting Objections to the Economic Approach 2.3 Confronting Objections to the Economic Approach
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Chapter 3

Chapter 3
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    3 Introduction to Demand and Supply 3 Introduction to Demand and Supply
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    3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
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    3.2 Shifts in Demand and Supply for Goods and Services 3.2 Shifts in Demand and Supply for Goods and Services
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    3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process 3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
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    3.4 Price Ceilings and Price Floors 3.4 Price Ceilings and Price Floors
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    3.5 Demand, Supply, and Efficiency 3.5 Demand, Supply, and Efficiency
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Chapter 4

Chapter 4
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    4 Introduction to Labor and Financial Markets 4 Introduction to Labor and Financial Markets
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    4.1 Demand and Supply at Work in Labor Markets 4.1 Demand and Supply at Work in Labor Markets
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    4.2 Demand and Supply in Financial Markets 4.2 Demand and Supply in Financial Markets
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    4.3 The Market System as an Efficient Mechanism for Information 4.3 The Market System as an Efficient Mechanism for Information
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Chapter 5

Chapter 5
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    5 Introduction to Elasticity 5 Introduction to Elasticity
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    5.1 Price Elasticity of Demand and Price Elasticity of Supply 5.1 Price Elasticity of Demand and Price Elasticity of Supply
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    5.2 Polar Cases of Elasticity and Constant Elasticity 5.2 Polar Cases of Elasticity and Constant Elasticity
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    5.3 Elasticity and Pricing 5.3 Elasticity and Pricing
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    5.4 Elasticity in Areas Other Than Price 5.4 Elasticity in Areas Other Than Price
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Chapter 6

Chapter 6
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    6 Introduction to the Macroeconomic Perspective 6 Introduction to the Macroeconomic Perspective
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    6.1 Measuring the Size of the Economy: Gross Domestic Product 6.1 Measuring the Size of the Economy: Gross Domestic Product
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    6.2 Adjusting Nominal Values to Real Values 6.2 Adjusting Nominal Values to Real Values
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    6.3 Tracking Real GDP over Time 6.3 Tracking Real GDP over Time
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    6.4 Comparing GDP among Countries 6.4 Comparing GDP among Countries
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    6.5 How Well GDP Measures the Well-Being of Society 6.5 How Well GDP Measures the Well-Being of Society
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Chapter 7

Chapter 7
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    7 Introduction to Economic Growth 7 Introduction to Economic Growth
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    7.1 The Relatively Recent Arrival of Economic Growth 7.1 The Relatively Recent Arrival of Economic Growth
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    7.2 Labor Productivity and Economic Growth 7.2 Labor Productivity and Economic Growth
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    7.3 Components of Economic Growth 7.3 Components of Economic Growth
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    7.4 Economic Convergence 7.4 Economic Convergence
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Chapter 8

Chapter 8
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    8 Introduction to Unemployment 8 Introduction to Unemployment
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    8.1 How Economists Define and Compute Unemployment Rate 8.1 How Economists Define and Compute Unemployment Rate
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    8.2 Patterns of Unemployment 8.2 Patterns of Unemployment
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    8.3 What Causes Changes in Unemployment over the Short Run 8.3 What Causes Changes in Unemployment over the Short Run
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    8.4 What Causes Changes in Unemployment over the Long Run 8.4 What Causes Changes in Unemployment over the Long Run
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Chapter 9

Chapter 9
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    9 Introduction to Inflation 9 Introduction to Inflation
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    9.1 Tracking Inflation 9.1 Tracking Inflation
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    9.2 How to Measure Changes in the Cost of Living 9.2 How to Measure Changes in the Cost of Living
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    9.3 How the U.S. and Other Countries Experience Inflation 9.3 How the U.S. and Other Countries Experience Inflation
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    9.4 The Confusion Over Inflation 9.4 The Confusion Over Inflation
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    9.5 Indexing and Its Limitations 9.5 Indexing and Its Limitations
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Chapter 10

Chapter 10
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    10 Introduction to the International Trade and Capital Flows 10 Introduction to the International Trade and Capital Flows
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    10.1 Measuring Trade Balances 10.1 Measuring Trade Balances
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    10.2 Trade Balances in Historical and International Context 10.2 Trade Balances in Historical and International Context
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    10.3 Trade Balances and Flows of Financial Capital 10.3 Trade Balances and Flows of Financial Capital
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    10.4 The National Saving and Investment Identity 10.4 The National Saving and Investment Identity
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    10.5 The Pros and Cons of Trade Deficits and Surpluses 10.5 The Pros and Cons of Trade Deficits and Surpluses
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    10.6 The Difference between Level of Trade and the Trade Balance 10.6 The Difference between Level of Trade and the Trade Balance
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Chapter 11

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    11 Introduction to the Aggregate Supply–Aggregate Demand Model 11 Introduction to the Aggregate Supply–Aggregate Demand Model
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    11.1 Macroeconomic Perspectives on Demand and Supply 11.1 Macroeconomic Perspectives on Demand and Supply
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    11.2 Building a Model of Aggregate Demand and Aggregate Supply 11.2 Building a Model of Aggregate Demand and Aggregate Supply
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    11.3 Shifts in Aggregate Supply 11.3 Shifts in Aggregate Supply
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    11.4 Shifts in Aggregate Demand 11.4 Shifts in Aggregate Demand
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    11.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation 11.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
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    11.6 Keynes’ Law and Say’s Law in the AD/AS Model 11.6 Keynes’ Law and Say’s Law in the AD/AS Model
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Chapter 12

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    12 Introduction to the Keynesian Perspective 12 Introduction to the Keynesian Perspective
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    12.1 Aggregate Demand in Keynesian Analysis 12.1 Aggregate Demand in Keynesian Analysis
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    12.2 The Building Blocks of Keynesian Analysis 12.2 The Building Blocks of Keynesian Analysis
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    12.3 The Phillips Curve 12.3 The Phillips Curve
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    12.4 The Keynesian Perspective on Market Forces 12.4 The Keynesian Perspective on Market Forces
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Chapter 13

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    13 Introduction to the Neoclassical Perspective 13 Introduction to the Neoclassical Perspective
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    13.1 The Building Blocks of Neoclassical Analysis 13.1 The Building Blocks of Neoclassical Analysis
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    13.2 The Policy Implications of the Neoclassical Perspective 13.2 The Policy Implications of the Neoclassical Perspective
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    13.3 Balancing Keynesian and Neoclassical Models 13.3 Balancing Keynesian and Neoclassical Models
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Chapter 14

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    14 Introduction to Money and Banking 14 Introduction to Money and Banking
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    14.1 Defining Money by Its Functions 14.1 Defining Money by Its Functions
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    14.2 Measuring Money: Currency, M1, and M2 14.2 Measuring Money: Currency, M1, and M2
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    14.3 The Role of Banks 14.3 The Role of Banks
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    14.4 How Banks Create Money 14.4 How Banks Create Money
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Chapter 15

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    15 Derived copy of Introduction to Monetary Policy and Bank Regulation 15 Derived copy of Introduction to Monetary Policy and Bank Regulation
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    15.1 The Federal Reserve Banking System and Central Banks 15.1 The Federal Reserve Banking System and Central Banks
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    15.2 Bank Regulation 15.2 Bank Regulation
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    15.3 How a Central Bank Executes Monetary Policy 15.3 How a Central Bank Executes Monetary Policy
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    15.4 Monetary Policy and Economic Outcomes 15.4 Monetary Policy and Economic Outcomes
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    15.5 Pitfalls for Monetary Policy 15.5 Pitfalls for Monetary Policy
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Chapter 16

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    16 Introduction to Exchange Rates and International Capital Flows 16 Introduction to Exchange Rates and International Capital Flows
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    16.1 How the Foreign Exchange Market Works 16.1 How the Foreign Exchange Market Works
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    16.2 Demand and Supply Shifts in Foreign Exchange Markets 16.2 Demand and Supply Shifts in Foreign Exchange Markets
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    16.3 Macroeconomic Effects of Exchange Rates 16.3 Macroeconomic Effects of Exchange Rates
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    16.4 Exchange Rate Policies 16.4 Exchange Rate Policies
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Chapter 17

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    17 Introduction to Government Budgets and Fiscal Policy 17 Introduction to Government Budgets and Fiscal Policy
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    17.1 Government Spending 17.1 Government Spending
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    17.2 Taxation 17.2 Taxation
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    17.3 Federal Deficits and the National Debt 17.3 Federal Deficits and the National Debt
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    17.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation 17.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
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    17.5 Automatic Stabilizers 17.5 Automatic Stabilizers
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    17.6 Practical Problems with Discretionary Fiscal Policy 17.6 Practical Problems with Discretionary Fiscal Policy
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    17.7 The Question of a Balanced Budget 17.7 The Question of a Balanced Budget
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Chapter 18

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    18 Introduction to the Impacts of Government Borrowing 18 Introduction to the Impacts of Government Borrowing
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    18.1 How Government Borrowing Affects Investment and the Trade Balance 18.1 How Government Borrowing Affects Investment and the Trade Balance
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    18.2 Fiscal Policy and the Trade Balance 18.2 Fiscal Policy and the Trade Balance
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    18.3 How Government Borrowing Affects Private Saving 18.3 How Government Borrowing Affects Private Saving
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    18.4 Fiscal Policy, Investment, and Economic Growth 18.4 Fiscal Policy, Investment, and Economic Growth
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Chapter 19

Chapter 19
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  • External Url
    19 Introduction to Macroeconomic Policy around the World 19 Introduction to Macroeconomic Policy around the World
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    19.1 The Diversity of Countries and Economies across the World 19.1 The Diversity of Countries and Economies across the World
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    19.2 Improving Countries’ Standards of Living 19.2 Improving Countries’ Standards of Living
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    19.3 Causes of Unemployment around the World 19.3 Causes of Unemployment around the World
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    19.4 Causes of Inflation in Various Countries and Regions 19.4 Causes of Inflation in Various Countries and Regions
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    19.5 Balance of Trade Concerns 19.5 Balance of Trade Concerns
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Chapter 20

Chapter 20
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  • External Url
    20 Introduction to International Trade 20 Introduction to International Trade
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    20.1 Absolute and Comparative Advantage 20.1 Absolute and Comparative Advantage
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    20.2 What Happens When a Country Has an Absolute Advantage in All Goods 20.2 What Happens When a Country Has an Absolute Advantage in All Goods
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    20.3 Intra-industry Trade between Similar Economies 20.3 Intra-industry Trade between Similar Economies
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    20.4 The Benefits of Reducing Barriers to International Trade 20.4 The Benefits of Reducing Barriers to International Trade
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Chapter 21

Chapter 21
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    21 Introduction to Globalization and Protectionism 21 Introduction to Globalization and Protectionism
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    21.1 Protectionism: An Indirect Subsidy from Consumers to Producers 21.1 Protectionism: An Indirect Subsidy from Consumers to Producers
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    21.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions 21.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
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    21.3 Arguments in Support of Restricting Imports 21.3 Arguments in Support of Restricting Imports
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    21.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally 21.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally
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    21.5 The Tradeoffs of Trade Policy 21.5 The Tradeoffs of Trade Policy
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Additional Readings

Additional Readings
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    The Use of Mathematics in Principles of Economics The Use of Mathematics in Principles of Economics
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    The Expenditure-Output Model The Expenditure-Output Model
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minimum score must view must submit must contribute