• Microeconomics
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Macroeconomics Unit Catalog - 130 Videos

The Basics of Economics

Macroeconomics is the study of the behavior of the aggregate economy, exploring the economy's output, national income, unemployment, inflation, price levels and growth. Microeconomics, on the other hand, studies how households and firms make decisions and how they interact in markets.

Units include:

Circular Flow of Income

Opportunity Cost vs Choice

Selfish vs Self-Interest

Time Value of Money

Measuring Aggregate Output

The U.S. GDP is a very large number. In 2011, for example, the U.S. GDP figure was more than $14 dollars. In 2013, U.S. GDP was estimated by the Department of Commerce to be $16.8 trillion.

Units include:

Calculating GDP


Capital Stock and Flow Variables

Saving and Investment

Nominal vs. Real Quantities

Unemployment and Inflation

Population and real GDP affect the demand for labor and employment. In our society, people are very busy with jobs, household work, schools and many other activities.

Units include:

GDP Deflator vs. CPI

Population: Employment and Unemployment

Unemployment and the Recessionary Gap

Aggregate Demand and Supply

What happens when there is inflation and the government does not intervene in the markets?

Units include:

Inflationary Gap Without Government Intervention

Interest Rates vs. Bond Prices

Government and Fiscal Policy

Most governments' annual budgets feature fiscal deficits. Governments bring in revenues in the form of taxes, and they have expenditures.

Units include:

Solutions to the Population Pyramid

Population Pyramids

Fiscal Policy - Taxation

Tax Multiplier

Government Spending

Fiscal Deficit vs Debt

Spending Multiplier

Money Supply and Monetary Policy

Just as there is a supply curve for goods or services, there is a supply curve for money. The supply of money is determined by the Central Bank. The Central Bank sets goals for the amount of money it wants in circulation at any given time.

Units include:

Money Demand

Money Supply

Fractional Reserve


Money Supply and the Money Multiplier

Monetary Policy

International Trade

Countries will trade with each other because trade is driven by comparative advantage and not by absolute advantage.

Units include:

Comparative Advantage and International Trade

Benefits of Trade

Currency Exchange Rates