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1 Introduction to Economics
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1.1 The Basics of Economics
1.1.1 Defining Economics (Disc 1, 6:36)
1.1.2 What Economists Do (Disc 1, 13:20)
1.1.3 Macroeconomics and Microeconomics
(Disc 1, 11:21)
1.1.4 An Overview of Economic Systems
(Disc 1, 10:50)
1.1.5 Case Study: The Work of Adam Smith
(Disc 1, 8:58)
1.2 Graphs in Economics
1.2.1 Using Graphs to Understand Direct
Relationships (Disc 1, 9:50)
1.2.2 Plotting a Linear Relationship
between Two Variables (Disc 1, 9:57)
1.2.3 Changing the Intercept of a Linear
Function (Disc 1, 8:42)
1.2.4 Understanding the Slope of a Linear
Function (Disc 1, 7:28)
1.3 Demand
1.3.1 Determining the Components of
Demand (Disc 1, 11:58)
1.3.2 Understanding the Basics of a
Demand Curve (Disc 1, 11:54)
1.3.3 Analyzing Shifts in the Demand
Curve (Disc 1, 8:13)
1.3.4 Understanding Changes in Other
Demand Variables (Disc 1, 10:43)
1.3.5 Deriving a Market Demand Curve
(Disc 1, 9:16)
1.4 Supply
1.4.1 Determining the Components of
Supply (Disc 1, 6:00)
1.4.2 Deriving a Supply Curve (Disc 1,
9:49)
1.4.3 Understanding a Change in Supply
versus a Change in Quantity Supplied (Disc 1, 6:52)
1.4.4 Analyzing Changes in Other Supply
Variables (Disc 1, 3:36)
1.4.5 Deriving a Market Supply Curve
(Disc 1, 7:16)
1.5 Competitive Equilibrium
1.5.1 Determining a Competitive
Equilibrium (Disc 1, 11:04)
1.5.2 Defining Comparative Statics (Disc 1, 7:02)
1.5.3 Classifying Comparative Statics (Disc 1, 13:04)
1.6 Elasticity
1.6.1 Defining Elasticity (Disc 1, 5:15)
1.6.2 Calculating Elasticity (Disc 1,
11:43)
1.6.3 Applying the Concept of Elasticity
(Disc 1, 8:42)
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2 Macroeconomic Measurements
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2.1 Aggregate Output and
Income
2.1.1 The Production Possibilities
Frontier: Macroeconomic Applications (Disc 1, 18:18)
2.1.2 The Circular Flow Model (Disc 1,
9:38)
2.1.3 Real GDP (Disc 1, 16:03)
2.1.4 The New BEA Procedure for
Calculating Real GDP (Disc 1, 8:15)
2.1.5 Limitations of GDP and Alternative
Indexes (Disc 1, 10:40)
2.1.6 Hot Topic: Feminist Economics and
the Measurement of GDP (Disc 1, 5:08)
2.1.7 Hot Topic: Off the Books: The
Underground Economy (Disc 1, 5:43)
2.2 Approaches to Calculating GDP
2.2.1 The Expenditures Approach (Disc 1,
9:29)
2.2.2 The Income Approach (Disc 1, 7:02)
2.2.3 Hot Topic: The Impact of E-commerce
on the Economy (Disc 1, 6:07)
2.3 Cost of Living
2.3.1 Changes in the Cost of Living and
the CPI (Disc 1, 9:59)
2.3.2 Case Study: The Index of Leading
Economic Indicators (Disc 1, 6:30)
2.3.3 Calculating the Rate of Inflation
(Disc 1, 10:12)
2.3.4 Comparing the CPI and the GDP
Deflator (Disc 1, 6:02)
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3 Economic Fluctuations: Unemployment and
Inflation
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3.1 The Business Cycle
3.1.1 Recessions, Depressions, and Booms
(Disc 1, 10:32)
3.1.2 Theoretical Explanations for Cycles
(Disc 1, 10:09)
3.2 Measuring Unemployment
3.2.1 Measuring the Labor Force and
Unemployment (Disc 1, 9:30)
3.2.2 Types of Unemployment (Disc 1,
9:37)
3.2.3 Hot Topic: The Unemployment Rate
and the Crime Rate (Disc 1, 3:50)
3.2.4 Hot Topic: Too Old to Work: Are We
Discarding Valuable Workers? (Disc 1, 6:04)
3.3 The Natural Rate of Unemployment
3.3.1 Understanding the Natural Rate of
Unemployment (Disc 1, 8:37)
3.4 Causes of Unemployment
3.4.1 Minimum Wage Laws (Disc 1, 7:31)
3.4.2 An Analysis of Labor Unions and
Unemployment (Disc 1, 7:27)
3.4.3 Case Study:" La Causa": The United Farm Workers (Disc 1, 5:10)
3.4.4 The Theory of Efficiency Wages
(Disc 1, 10:54)
3.4.5 Unemployment Insurance (Disc 1,
6:36)
3.5 Inflation
3.5.1 Inflation, Deflation, Stagflation,
and Hyperinflation (Disc 1, 9:34)
3.5.2 Inflation and Purchasing Power
(Disc 1, 7:45)
3.5.3 Short-Run Causes: Demand-Pull and
Cost-Push (Disc 1, 9:59)
3.5.4 The Quantity Theory of Money (Disc
1, 11:58)
3.5.5 The Costs of Inflation (Disc 1,
9:23)
3.5.6 Case Study: Behavior during
Hyperinflation (Disc 1, 6:14)
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4 Aggregate Expenditures Model
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4.1 Historical Background
4.1.1 Say's Law and Keynes: An Overview
(Disc 1, 8:35)
4.1.2 Case Study: John Maynard Keynes
(Disc 1, 6:15)
4.2 Components of Aggregate Expenditures
4.2.1 The Aggregate Expenditures Identity
(Disc 2, 14:05)
4.2.2 Average and Marginal Propensities
to Consume and Save (Disc 2, 12:45)
4.2.3 The Aggregate Expenditures Model
(Disc 2, 13:05)
4.2.4 Case Study: The Paradox of Thrift
(Disc 2, 4:44)
4.2.5 Autonomous Investment (Disc 2,
13:26)
4.3 Equilibrium GDP
4.3.1 The Expenditures Approach and the
Saving Approach (Disc 2, 17:58)
4.4 The Multipliers
4.4.1 Applications of the Multipliers
(Disc 2, 14:23)
4.5 Comparative Statics:
The AE Model
4.5.1 Changes in Aggregate Expenditures
(Disc 2, 14:27)
4.5.2 Changes in Taxes (Disc 2, 18:40)
4.5.3 Changes in Net Exports (Disc 2,
10:28)
4.5.4 Hot Topic: Does Social Security
Need to Be "Saved"? (Disc 2, 17:44)
4.6 Keynes and the Aggregate Expenditures Model
4.6.1 Relating the Keynesian Model to the
AD/AS Model (Disc 2, 11:07)
4.7 The Multipliers
4.7.1 Deriving the Multipliers (Disc 2, 8:41)
4.7.2 Case Study: The Paradox of Thrift
(Disc 2, 4:44)
4.7.3 Hot Topic: Does Social Security
Need to Be "Saved"? (Disc 2, 17:44)
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5 Money: Banking, Spending, Saving, and
Investing
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5.1 Money in the Economy
5.1.1 The Money Supply (Disc 2, 10:42)
5.1.2 Case Study: The Cashless Society
(Disc 2, 8:18)
5.1.3 Determinants of Money Demand (Disc
2, 9:00)
5.1.4 The Money Market (Disc 2, 10:02)
5.2 Financial Markets
5.2.1 Financial Markets and Intermediaries
(Disc 2, 12:04)
5.2.2 Hot Topic: Should the U.S. Government Bail Out Failing
Financial Institutions? (Disc 2, 8:35)
5.2.3 Stocks and Bonds (Disc 2, 11:32)
5.2.4 The Price of Bonds and the Interest
Rate (Disc 2, 12:28)
5.3 The Fed
5.3.1 The Federal Reserve System (Disc 2,
8:13)
5.3.2 Hot Topic: Are Reserve Requirements
Necessary? (Disc 2, 7:11)
5.3.3 The Fed's Tools of Monetary Policy
(Disc 2, 9:47)
5.4 The Creation of Money
5.4.1 How Goldsmiths Created Money (Disc
2, 7:40)
5.4.2 Case Study: Cigarettes As Money
(Disc 2, 6:07)
5.4.3 How Banks Create Money (Disc 2,
12:09)
5.4.4 How the Fed Changes the Money
Supply (Disc 2, 10:06)
5.5 Saving and Investment
5.5.1 Investment Demand (Disc 2, 11:36)
5.5.2 The Market for Loanable
Funds and Government Policy (Disc 2, 8:09)
5.5.3 Equilibrium in the Money Market
(Disc 2, 9:49)
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6 Aggregate Demand/Aggregate Supply Model
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6.1 Aggregate Demand
6.1.1 Deriving the Aggregate Demand Curve
(Disc 2, 7:26)
6.1.2 Movement along the Aggregate Demand
Curve (Disc 2, 9:15)
6.1.3 Shifts in Aggregate Demand (Disc 2,
6:03)
6.2 Aggregate Supply
6.2.1 The Short-Run Aggregate Supply
Curve (Disc 2, 9:03)
6.2.2 The Labor Market (Disc 2, 7:20)
6.2.3 The Long-Run Aggregate Supply Curve
(Disc 2, 11:17)
6.3 Differences in the Long Run and the Short Run
6.3.1 The Classical View (Disc 2, 9:01)
6.3.2 Equilibrium in the Long Run and the
Short Run (Disc 2, 12:10)
6.3.3 Expectations in the Long Run and
the Short Run (Disc 2, 14:36)
6.3.4 Long-Run Macroeconomic Equilibrium
(Disc 2, 16:55)
6.3.5 Case Study: The U.S. National Debt
(Disc 2, 8:46)
6.4 The Phillips Curve
6.4.1 Definitions and the Historical
Record (Disc 2, 13:38)
6.4.2 Expectations and the Phillips Curve
(Disc 2, 9:15)
6.4.3 Hot Topic: Is the Roller Coaster
Ride Over? The Future of the Business Cycle (Disc 2, 7:39)
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7 Monetary and Fiscal Policy
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7.1 Recessions and Booms
7.1.1 Unanticipated Changes in Aggregate
Demand (Disc 2, 12:04)
7.1.2 Unanticipated Changes in Aggregate
Supply (Disc 2, 15:43)
7.2 Fiscal Policy : The Mainstream
7.2.1 Fiscal Policy Using the AD/AS Model
(Disc 3, 16:10)
7.2.2 The Market for Loanable
Funds and Crowding Out (Disc 3, 11:46)
7.2.3 Timing Problems and the AD/AS Model
(Disc 3, 6:58)
7.2.4 Automatic Stabilizers (Disc 3,
8:40)
7.2.5 Hot Topic: The Political Business
Cycle (Disc 3, 3:35)
7.3 Fiscal Policy: Alternative Approaches
7.3.1 New Keynesian and New Classical
Approaches to Fiscal Policy (Disc 3, 11:03)
7.3.2 Supply-Side Policy (Disc 3, 5:26)
7.4 Monetary Policy: The Mainstream
7.4.1 The Quantity Theory of Money
(review) (Disc 3, 9:27)
7.4.2 Monetary Policy Using the AD/AS
Model (Disc 3, 9:56)
7.4.3 Monetary Responses to Changes in
the Economy (Disc 3, 12:20)
7.4.4 Monetary Policy: Accommodation
(Disc 3, 9:41)
7.4.5 Hot Topic: Should Monetary Policy
Be Made by Rule or Discretion? (Disc 3, 6:34)
7.5 Monetary Policy: Alternative Approaches
7.5.1 New Keynesians versus Monetarists
(Disc 3, 11:23)
7.5.2 New Classical Macroeconomics (Disc
3, 8:31)
7.5.3 Case Study: Policy in the Great
Depression (Disc 3, 8:22)
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8 Productivity and Growth
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8.1 The Elements of
Productivity and Growth
8.1.1 The Rule of 70, Compounding, and
Growth (Disc 3, 8:59)
8.1.2 The PPF, the AD/AS Model, and
Long-Run Growth (Disc 3, 7:44)
8.1.3 The Production Function and Growth
(Disc 3, 6:49)
8.1.4 The Definition of Productivity and
Factors Affecting It (Disc 3, 3:56)
8.2 Policy and Growth
8.2.1 Investment (Disc 3, 12:17)
8.2.2 Other Policies to Encourage Growth
(Disc 3, 10:40)
8.2.3 Hot Topic: Women's Roles in Rural
Economic Growth (Disc 3, 4:59)
8.2.4 Case Study: Post-WWII Japan (Disc
3, 7:55)
8.3 Emerging Economies
8.3.1 Growth in Emerging Economies (Disc
3, 11:32)
8.3.2 Policies to Promote Growth (Disc 3,
7:50)
8.3.3 Hot Topic: The Myth of Exploding
Populations (Disc 3, 8:01)
8.3.4 Case Study: Growing Pains in
Indonesia (Disc 3, 11:46)
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9 International Focus
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9.1 Microeconomics Background
9.1.1 Determining the Difference between
a Closed Economy and an Open Economy (Disc 3, 8:56)
9.1.2 Understanding Exports in an Open
Economy (Disc 3, 5:23)
9.1.3 Analyzing a Change in Equilibrium
in an Open Economy (Disc 3, 4:03)
9.1.4 Analyzing International Trade Using
Comparative Advantage (Disc 3, 25:35)
9.2 Exports, Imports, and Accounting
9.2.1 The International Flow of Goods and
Services (Disc 3, 15:13)
9.2.2 Balance of Payments (Disc 3, 19:39)
9.2.3 Trade Balances (Disc 3, 15:23)
9.3 Exchange Rates
9.3.1 Nominal Exchange Rates (Disc 3,
11:32)
9.3.2 Real Exchange Rates (Disc 3, 7:29)
9.3.3 Purchasing Power Parity (Disc 3,
15:13)
9.3.4 Determination of Exchange Rates (Disc
3, 12:31)
9.3.5 Floating and Fixed Systems (Disc 3,
13:18)
9.3.6 The Managed Float (Disc 3, 10:26)
9.4 Government Policies
9.4.1 Government Budget Deficits and
Trade (Disc 3, 7:18)
9.4.2 Trade Policy (Disc 3, 7:18)
9.4.3 Hot Topic: Winners and Losers in
NAFTA (Disc 3, 4:20)
9.4.4 Political Instability and Trade
(Disc 3, 8:56)
9.4.5 Hot Topic: Is the World Trade
Organization a Conspiracy? (Disc 3, 16:15)
9.5 Transition Economies
9.5.1 Centrally Planned Economies (Disc
3, 10:57)
9.5.2 Policies to Change to Market
Systems (Disc 3, 11:18)
9.5.3 Comparative Economic Performance
(Disc 3, 12:16)
9.5.4 Case Study: A Successful Transition
in the Czech Republic (Disc 3, 7:13)
9.6 Alternative Systems
9.6.1 Case Study: Post-Mao China (Disc 3,
7:26)
9.6.2 Case Study: Revolution and Reform
in Mexico (Disc 3, 5:46)
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