EchoSpark

The whole economy · Intermediate

Macroeconomics

How economies behave in aggregate: national income, growth, unemployment, inflation, and the fiscal and monetary tools governments use.

Lessons are being added to this course

Module 1: Measuring the Economy

In preparation

The headline indicators and what each one actually captures.

  • 1.1National Income and GDPNominal versus real GDP, and GDP per capita.10 minComing soon
  • 1.2The Circular Flow of IncomeInjections, withdrawals and the multiplier.10 minComing soon
  • 1.3Limitations of GDPWhat GDP misses, and the alternatives.10 minComing soon

Module 2: Aggregate Demand and Supply

In preparation

The core macro model and how equilibrium output is set.

  • 2.1Aggregate DemandThe components of AD and what shifts the curve.10 minComing soon
  • 2.2Aggregate SupplyShort-run and long-run supply, and the Keynesian view.10 minComing soon
  • 2.3Macroeconomic EquilibriumOutput gaps and how the economy adjusts.10 minComing soon

Module 3: Unemployment and Inflation

In preparation

Two of the four main macroeconomic objectives.

  • 3.1UnemploymentTypes, measurement, causes and consequences.10 minComing soon
  • 3.2Inflation and DeflationDemand-pull, cost-push, and why deflation is dangerous.10 minComing soon
  • 3.3The Phillips CurveThe short-run trade-off, and why it broke down.10 minComing soon

Module 4: Government Policy

In preparation

The levers available, and their limits.

  • 4.1Fiscal PolicyGovernment spending, taxation, deficits and debt.10 minComing soon
  • 4.2Monetary PolicyInterest rates, the money supply and central banks.10 minComing soon
  • 4.3Supply-Side PolicyRaising long-run productive capacity.10 minComing soon