Key concepts and graphs
Concepts: Circular flow of economic activity, inclusions and exclusions concerning gross domestic produce, expenditure approach to GDP, income approach to GDP, nominal vs. real GDP, phases of the business cycle, types of unemployment, full employment, measurements of inflation, types of inflation, effects of inflation.
Graphs: Circular flow of economic activity
Phases of the business cycle
Key Words or Terms
Gross domestic product, intermediate goods, final goods, multiple counting, expenditure approach, income approach, personal consumption expenditures, gross private domestic investment, net private domestic investment, government purchases, net exports, national income, consumption of fixed capital, depreciation, personal income, disposable personal income, nominal GDP, real GDP, GDP deflator, peak, recession, trough, recovery, labor force, unemployment rate, frictional unemployment, structural unemployment, cyclical unemployment, full-employment rate of unemployment, natural rate of unemployment, inflation, Consumer Price Index, demand-pull inflation, cost-push inflation, nominal income, real income, deflation.
- National income accounts
- Circular flow
- Gross domestic product (GDP)
- Components of GDP
- Real vs. nominal GDP
- Inflation measurement and adjustment
- Price Indices
- Nominal and real values
- Costs of inflation
- Unemployment
- Definition and measurement
- Types of unemployment
- Natural rate of unemployment
Key concepts and graphs
Concepts: Circular flow of economic activity, inclusions and exclusions concerning gross domestic produce, expenditure approach to GDP, income approach to GDP, nominal vs. real GDP, phases of the business cycle, types of unemployment, full employment, measurements of inflation, types of inflation, effects of inflation.
Graphs: Circular flow of economic activity
Phases of the business cycle
Key Words or Terms
Gross domestic product, intermediate goods, final goods, multiple counting, expenditure approach, income approach, personal consumption expenditures, gross private domestic investment, net private domestic investment, government purchases, net exports, national income, consumption of fixed capital, depreciation, personal income, disposable personal income, nominal GDP, real GDP, GDP deflator, peak, recession, trough, recovery, labor force, unemployment rate, frictional unemployment, structural unemployment, cyclical unemployment, full-employment rate of unemployment, natural rate of unemployment, inflation, Consumer Price Index, demand-pull inflation, cost-push inflation, nominal income, real income, deflation.
Lectures
Module 10: gdp.pptx Module 11: real_v_nominal_gdp.pptx Module 12: unemplpoyment_rate.pptx Module 13: natural_rate_of_unemployment.pptx Module 14: inflation.pptx Module 15: price_index.pptx |
Materials
Module 10 Circular Flow video 3 Approaches to GDP GDP (IMPORTANT!) Module 11 ACDC Real vs Nominal Real v Nominal Module 12 Unemployment Rates Unemployment video Module 13 Classifying Unemployment Structural or Cyclical Natural Rate of Unemployment Module 14 Inflation - Helped or Hurt? Module 15 Inflation Auction Activity Inflation and Price Indexes Video Consumer Price Index |