Course Modules: OpenStax Macroeconomics

Chapter 1

Chapter 1 Chapter 1

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Chapter Readings 1

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1 Introduction 1 Introduction 2

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1.1 What Is Economics, and Why Is It Important? 1.1 What Is Economics, and Why Is It Important? 3

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1.2 Microeconomics and Macroeconomics 1.2 Microeconomics and Macroeconomics 4

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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 5

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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 6

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Chapter 2

Chapter 2 Chapter 2

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Chapter Readings 1

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2 Introduction to Choice in a World of Scarcity 2 Introduction to Choice in a World of Scarcity 2

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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 3

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2.2 The Production Possibilities Frontier and Social Choices 2.2 The Production Possibilities Frontier and Social Choices 4

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2.3 Confronting Objections to the Economic Approach 2.3 Confronting Objections to the Economic Approach 5

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Chapter 3

Chapter 3 Chapter 3

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Chapter Readings 1

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3 Introduction to Demand and Supply 3 Introduction to Demand and Supply 2

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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 3

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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 4

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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 5

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3.4 Price Ceilings and Price Floors 3.4 Price Ceilings and Price Floors 6

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3.5 Demand, Supply, and Efficiency 3.5 Demand, Supply, and Efficiency 7

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Chapter 4

Chapter 4 Chapter 4

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Chapter Readings 1

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4 Introduction to Labor and Financial Markets 4 Introduction to Labor and Financial Markets 2

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4.1 Demand and Supply at Work in Labor Markets 4.1 Demand and Supply at Work in Labor Markets 3

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4.2 Demand and Supply in Financial Markets 4.2 Demand and Supply in Financial Markets 4

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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 5

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Chapter 5

Chapter 5 Chapter 5

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Chapter Readings 1

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5 Introduction to Elasticity 5 Introduction to Elasticity 2

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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 3

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5.2 Polar Cases of Elasticity and Constant Elasticity 5.2 Polar Cases of Elasticity and Constant Elasticity 4

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5.3 Elasticity and Pricing 5.3 Elasticity and Pricing 5

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5.4 Elasticity in Areas Other Than Price 5.4 Elasticity in Areas Other Than Price 6

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Chapter 6

Chapter 6 Chapter 6

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Chapter Readings 1

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6 Introduction to the Macroeconomic Perspective 6 Introduction to the Macroeconomic Perspective 2

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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 3

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6.2 Adjusting Nominal Values to Real Values 6.2 Adjusting Nominal Values to Real Values 4

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6.3 Tracking Real GDP over Time 6.3 Tracking Real GDP over Time 5

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6.4 Comparing GDP among Countries 6.4 Comparing GDP among Countries 6

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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 7

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Chapter 7

Chapter 7 Chapter 7

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Chapter Readings 1

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7 Introduction to Economic Growth 7 Introduction to Economic Growth 2

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7.1 The Relatively Recent Arrival of Economic Growth 7.1 The Relatively Recent Arrival of Economic Growth 3

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7.2 Labor Productivity and Economic Growth 7.2 Labor Productivity and Economic Growth 4

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7.3 Components of Economic Growth 7.3 Components of Economic Growth 5

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7.4 Economic Convergence 7.4 Economic Convergence 6

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Chapter 8

Chapter 8 Chapter 8

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8 Introduction to Unemployment 8 Introduction to Unemployment 2

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8.1 How Economists Define and Compute Unemployment Rate 8.1 How Economists Define and Compute Unemployment Rate 3

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8.2 Patterns of Unemployment 8.2 Patterns of Unemployment 4

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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 5

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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 6

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Chapter 9

Chapter 9 Chapter 9

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Chapter Readings 1

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9 Introduction to Inflation 9 Introduction to Inflation 2

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9.1 Tracking Inflation 9.1 Tracking Inflation 3

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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 4

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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 5

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9.4 The Confusion Over Inflation 9.4 The Confusion Over Inflation 6

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9.5 Indexing and Its Limitations 9.5 Indexing and Its Limitations 7

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Chapter 10

Chapter 10 Chapter 10

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Chapter Readings 1

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10 Introduction to the International Trade and Capital Flows 10 Introduction to the International Trade and Capital Flows 2

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10.1 Measuring Trade Balances 10.1 Measuring Trade Balances 3

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10.2 Trade Balances in Historical and International Context 10.2 Trade Balances in Historical and International Context 4

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10.3 Trade Balances and Flows of Financial Capital 10.3 Trade Balances and Flows of Financial Capital 5

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10.4 The National Saving and Investment Identity 10.4 The National Saving and Investment Identity 6

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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 7

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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 8

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Chapter 11

Chapter 11 Chapter 11

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11 Introduction to the Aggregate Supply–Aggregate Demand Model 11 Introduction to the Aggregate Supply–Aggregate Demand Model 2

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11.1 Macroeconomic Perspectives on Demand and Supply 11.1 Macroeconomic Perspectives on Demand and Supply 3

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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 4

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11.3 Shifts in Aggregate Supply 11.3 Shifts in Aggregate Supply 5

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11.4 Shifts in Aggregate Demand 11.4 Shifts in Aggregate Demand 6

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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 7

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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 8

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Chapter 12

Chapter 12 Chapter 12

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12 Introduction to the Keynesian Perspective 12 Introduction to the Keynesian Perspective 2

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12.1 Aggregate Demand in Keynesian Analysis 12.1 Aggregate Demand in Keynesian Analysis 3

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12.2 The Building Blocks of Keynesian Analysis 12.2 The Building Blocks of Keynesian Analysis 4

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12.3 The Phillips Curve 12.3 The Phillips Curve 5

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12.4 The Keynesian Perspective on Market Forces 12.4 The Keynesian Perspective on Market Forces 6

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Chapter 13

Chapter 13 Chapter 13

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13 Introduction to the Neoclassical Perspective 13 Introduction to the Neoclassical Perspective 2

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13.1 The Building Blocks of Neoclassical Analysis 13.1 The Building Blocks of Neoclassical Analysis 3

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13.2 The Policy Implications of the Neoclassical Perspective 13.2 The Policy Implications of the Neoclassical Perspective 4

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13.3 Balancing Keynesian and Neoclassical Models 13.3 Balancing Keynesian and Neoclassical Models 5

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Chapter 14

Chapter 14 Chapter 14

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14 Introduction to Money and Banking 14 Introduction to Money and Banking 2

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14.1 Defining Money by Its Functions 14.1 Defining Money by Its Functions 3

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14.2 Measuring Money: Currency, M1, and M2 14.2 Measuring Money: Currency, M1, and M2 4

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14.3 The Role of Banks 14.3 The Role of Banks 5

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14.4 How Banks Create Money 14.4 How Banks Create Money 6

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Chapter 15

Chapter 15 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 2

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15.1 The Federal Reserve Banking System and Central Banks 15.1 The Federal Reserve Banking System and Central Banks 3

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15.2 Bank Regulation 15.2 Bank Regulation 4

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15.3 How a Central Bank Executes Monetary Policy 15.3 How a Central Bank Executes Monetary Policy 5

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15.4 Monetary Policy and Economic Outcomes 15.4 Monetary Policy and Economic Outcomes 6

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15.5 Pitfalls for Monetary Policy 15.5 Pitfalls for Monetary Policy 7

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Chapter 16

Chapter 16 Chapter 16

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16 Introduction to Exchange Rates and International Capital Flows 16 Introduction to Exchange Rates and International Capital Flows 2

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16.1 How the Foreign Exchange Market Works 16.1 How the Foreign Exchange Market Works 3

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16.2 Demand and Supply Shifts in Foreign Exchange Markets 16.2 Demand and Supply Shifts in Foreign Exchange Markets 4

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16.3 Macroeconomic Effects of Exchange Rates 16.3 Macroeconomic Effects of Exchange Rates 5

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16.4 Exchange Rate Policies 16.4 Exchange Rate Policies 6

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Chapter 17

Chapter 17 Chapter 17

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17 Introduction to Government Budgets and Fiscal Policy 17 Introduction to Government Budgets and Fiscal Policy 2

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17.1 Government Spending 17.1 Government Spending 3

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17.2 Taxation 17.2 Taxation 4

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17.3 Federal Deficits and the National Debt 17.3 Federal Deficits and the National Debt 5

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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 6

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17.5 Automatic Stabilizers 17.5 Automatic Stabilizers 7

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17.6 Practical Problems with Discretionary Fiscal Policy 17.6 Practical Problems with Discretionary Fiscal Policy 8

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17.7 The Question of a Balanced Budget 17.7 The Question of a Balanced Budget 9

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Chapter 18

Chapter 18 Chapter 18

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Chapter Readings 1

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18 Introduction to the Impacts of Government Borrowing 18 Introduction to the Impacts of Government Borrowing 2

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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 3

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18.2 Fiscal Policy and the Trade Balance 18.2 Fiscal Policy and the Trade Balance 4

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18.3 How Government Borrowing Affects Private Saving 18.3 How Government Borrowing Affects Private Saving 5

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18.4 Fiscal Policy, Investment, and Economic Growth 18.4 Fiscal Policy, Investment, and Economic Growth 6

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Chapter 19

Chapter 19 Chapter 19

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Chapter Readings 1

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19 Introduction to Macroeconomic Policy around the World 19 Introduction to Macroeconomic Policy around the World 2

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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 3

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19.2 Improving Countries’ Standards of Living 19.2 Improving Countries’ Standards of Living 4

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19.3 Causes of Unemployment around the World 19.3 Causes of Unemployment around the World 5

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19.4 Causes of Inflation in Various Countries and Regions 19.4 Causes of Inflation in Various Countries and Regions 6

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19.5 Balance of Trade Concerns 19.5 Balance of Trade Concerns 7

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Chapter 20

Chapter 20 Chapter 20

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Chapter Readings 1

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20 Introduction to International Trade 20 Introduction to International Trade 2

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20.1 Absolute and Comparative Advantage 20.1 Absolute and Comparative Advantage 3

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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 4

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20.3 Intra-industry Trade between Similar Economies 20.3 Intra-industry Trade between Similar Economies 5

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20.4 The Benefits of Reducing Barriers to International Trade 20.4 The Benefits of Reducing Barriers to International Trade 6

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Chapter 21

Chapter 21 Chapter 21

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Chapter Readings 1

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21 Introduction to Globalization and Protectionism 21 Introduction to Globalization and Protectionism 2

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21.1 Protectionism: An Indirect Subsidy from Consumers to Producers 21.1 Protectionism: An Indirect Subsidy from Consumers to Producers 3

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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 4

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21.3 Arguments in Support of Restricting Imports 21.3 Arguments in Support of Restricting Imports 5

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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 6

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21.5 The Tradeoffs of Trade Policy 21.5 The Tradeoffs of Trade Policy 7

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Additional Readings

Additional Readings Additional Readings

External Url

The Use of Mathematics in Principles of Economics The Use of Mathematics in Principles of Economics 1

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The Expenditure-Output Model The Expenditure-Output Model 2

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