MIT: Veronica Guerrieri's "Principles of Macroeconomics Lecture Notes"

Read both sets of lecture notes. Note that you have already encountered the L2 notes in Subunit 1.2. Use these notes as a review of the material covered in Unit 1 and Unit 2 in preparation for Unit 3.

The lecture notes, "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?
  1. Inflation
        • What is the difference between ‘Real’ and ‘Nominal’ variables?
        • How is inflation measured?
  1. Interest Rate
        • How is inflation measured?
        • Why do we care about Inflation?
  1. Unemployment 
        • How is Unemployment measured?
        • Why do we care about Unemployment?

The lecture notes, "Supply Side of the Macro Economy" covers:

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