Topic | Name | Description |
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Course Introduction | ||
1.1: Gross Domestic Product | Read Chapter 1 on pages 1–24 and 31–36. Think about how economists calculate GDP and take inflation into account. Consider different approaches to estimating GDP. |
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Listen to this lecture. |
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Listen to this lecture. |
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1.2: Trends and Cycles | Read Chapter 1 on pages 25–30. Think about the ways economists describe how trends and cycles emerge and change. Consider how different economic interpretations may impact decisions. |
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1.3 : Decisions Under Uncertainty | Read Chapter 3 on pages 63–75. Consider a time you had to make a decision under uncertain conditions. How did you approach it? Also, think about how national policies can either create or reduce uncertainty. |
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Watch these lectures. |
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2.1: Output and Employment | Read Chapter 2 on pages 38–52 and 58–61. Consider a time you had to make a decision about whether to work or do something else. Think about how that choice is replicated throughout an entire economy. |
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Listen to this lecture. |
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2.2: Business Cycles and Policies | Read Chapter 2 on pages 53–57. Analyze how the business cycle affects trends in employment and how national policies can stabilize the labor market. |
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Listen to this lecture. |
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2.3: Unemployment | Read Chapter 4 on pages 77–97. Consider how various wages are arrived at, and the role of government in bridging income gaps with unemployment insurance. |
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3.1: Consumption and Saving | Read Chapter 5 on pages 99–127. Consider the relationship between consumer demand and the level of savings. Analyze the effect on the international position of the economy and the market level of interest rates. |
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3.2: Capital and Investment | Read Chapter 7 on pages 155–163. Think about how interest rates are set relative to an open economy. Does the market always allocate the correct level of capital and investment? |
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Listen to this lecture. |
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3.3: IS-LM Analysis | Read Chapter 7 on pages 163–169. Think about the effects of government decisions on interest rates and levels of investment. |
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4.1: Static Models of Spending and Taxation | Read Chapter 6 on pages 129–141. Think about how spending and taxation affect a static model with no dynamic changes. Consider how different kinds of taxes affect the economy. |
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4.2: Dynamic Models of Spending and Taxation | Read chapter 6 on pages 142–151. Think about how spending and taxation affect a dynamic model, as compared to the static ones in the last section. Consider how different kinds of policies, like sustained interventions and shocks, affect the economy. |
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4.3: Taxes vs. Borrowing | Read chapter 6 on pages 152–154. Consider the pros and cons of borrowing and/or raising taxes to finance a deficit. When is each policy better than the other? Hint: Think about economic cycles. |
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Listen to Lecture 4, "Stimulus SmackDown: Can Deficit Spending Save the Economy?". |
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5.1: Overlapping Generations Model | Read Chapter 8 on pages 172–175. Think about how this tool explains the transfer of wealth over generations. |
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Watch these lectures. |
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5.2: Monetary Policy and Inflation | Read Chapter 8 on pages 175–194. Think about how the role of money functions within an economy. Consider which policies work best in isolation and which are best used in an open economy. |
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5.3: International Monetary Systems | Read Chapter 8 on pages 194–205. Think about how the international monetary system functions and how it might be in need of reform. |
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