Macroeconomics Study Guides

Keep the following two comprehensive study guides handy throughout your macroeconomics course study. They provide brief oulines for many of the major macroeconomics topics studied in this course and can help prepare you for your final economics exams.

Principles of Macroeconomics Lecture Notes

Read both sets of lecture notes. Use these notes as a review of the material covered in Unit 1 and Unit 2 in preparation for Unit 3.

"Introduction to Macro Data" covers:

  1. Gross Domestic Product (GDP)
    • What is Gross Domestic Product and how we measure it? Why is this measure important?
    • What are the definitions of the major expenditure components?
    • What are the trends in these components over time?
  2. Inflation
    • What is the difference between 'Real' and 'Nominal' variables?
    • How is inflation measured?
  3. Interest Rate
    • How is inflation measured?
    • Why do we care about Inflation?
  4. Unemployment 
    • How is Unemployment measured?
    • Why do we care about Unemployment?

"Supply Side of the Macro Economy" covers:

  1. Production Function
  2. Labor Market
    • Labor Demand
    • Labor Supply
    • Equilibrium Wages and Employment

Source: Veronica Guirrieri,
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