Scarcity, Choice, and The Production Possibilities Curve
Economic Scarcity and the Function of Choice
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All Videos in Scarcity, Choice, and The Production Possibilities Curve
Comparative Advantage, Specialization and Exchange
Comparative Advantage: Definition and Examples
All Videos in Comparative Advantage, Specialization and Exchange
Market Demand Schedule
Measuring the Economy
Circular Flow of Economic Activity: The Flow of Goods, Services & Resources
All Videos in Measuring the Economy
- 1. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources
- 2. Gross Domestic Product: Using the Income and Expenditure Approaches
- 3. Gross Domestic Product: Definition and Components
- 4. Gross Domestic Product: Items Excluded from National Production
- 5. Investment vs. Investments in Economics
Inflation Measurement and Adjustment
Consumer Price Index: Measuring the Cost of Living and Inflation
All Videos in Inflation Measurement and Adjustment
- 1. Consumer Price Index: Measuring the Cost of Living and Inflation
- 2. The GDP Deflator and Consumer Price Index
- 3. Consumer Price Index and the Substitution Bias
- 4. Adjusting Wages for the Inflation Rate
- 5. Gross Domestic Product: Nominal vs. Real GDP
- 6. Gross Domestic Product: How to Calculate Real GDP
- 7. How to Calculate Real GDP Growth Rates
- 8. Cost-Push Inflation: How the Supply Side of the Economy Leads to Inflation
- 9. The Multiplier Effect and the Simple Spending Multiplier: Definition and Examples
- 10. Effects of Inflation on Suppliers and Demanders
Defining and Measuring the Unemployment Rate
Aggregate Demand and Supply
The Keynesian Model and the Classical Model of the Economy
All Videos in Aggregate Demand and Supply
- 1. The Keynesian Model and the Classical Model of the Economy
- 2. Supply and Demand Curves in the Classical Model and Keynesian Model
- 3. Aggregate Supply and Aggregate Demand (AS-AD) Model
- 4. Marginal Propensity to Consume: Definition and Formula of the MPC
- 5. Government Spending, GDP, and Crowding Out Private Investment
- 6. Sticky Wages and Prices: Effect on Equilibrium
- 7. Favorable Supply Shocks & Unfavorable Supply Shocks
Macroeconomic Equilibrium
The Business Cycle: Economic Performance Over Time
All Videos in Macroeconomic Equilibrium
The Phillips Curve Model: Inflation and Unemployment
Economic Growth and Productivity
Economic Growth: How to Raise a Nation's Potential Output
All Videos in Economic Growth and Productivity
Money, Banking and Financial Markets
Present and Future Value: Calculating the Time Value of Money
All Videos in Money, Banking and Financial Markets
- 1. Present and Future Value: Calculating the Time Value of Money
- 2. Measuring the Money Supply: Explanation and Examples
- 3. What is Money? - Definition and Types
- 4. The Four Basic Functions of Money
- 5. Fractional Reserve System: Required and Excess Reserves
- 6. How Money Is Made: Understanding Bank Lending in the Economy
- 7. Money and Multiplier Effect: Formula and Reserve Ratio
- 8. Money Demand and Interest Rates: Economics of Demand
- 9. The Money Market: Money Supply and Money Demand Curves
Central Bank and the Money Supply
What is the Federal Reserve System?
All Videos in Central Bank and the Money Supply
- 1. What is the Federal Reserve System?
- 2. Reserve Requirement, Open Market Operations and the Discount Rate
- 3. Open Market Operations & the Federal Reserve: Definition & Examples
- 4. How the Reserve Ratio Affects the Money Supply
- 5. The Discount Rate & Monetary Policy: How Banks Can Borrow Money from the Federal Reserve
- 6. How the Federal Reserve Changes the Money Supply and Affects Interest Rates
- 7. Quantity Theory of Money: Output and Prices
- 8. The Velocity of Money: Definition and Circulation Speed
- 9. Real vs. Nominal Interest Rates and Changes in Prices
- 10. Private Investment and Real Interest Rates
- 11. Hyperinflation, Money Supply and the Consumer Price Index
Fiscal and Monetary Policies
Fiscal Policy Tools: Government Spending and Taxes
All Videos in Fiscal and Monetary Policies
- 1. Fiscal Policy Tools: Government Spending and Taxes
- 2. Expansionary Fiscal Policy and Aggregate Demand
- 3. Contractionary Fiscal Policy and Aggregate Demand
- 4. Understanding the Progressive Tax Code
- 5. Automatic Stabilizers in Economics: Definition & Examples
- 6. Expansionary Monetary Policy: Helping the Economy Grow
- 7. Contractionary Monetary Policy: Slowing the Economy Down
- 8. The Importance of Timing in Fiscal and Monetary Policy Decisions
- 9. Short-Term GDP and National Debt: Keynes' Theory
- 10. What is a Contractionary Gap? - Identifying an Economy That is Below Potential
- 11. What is an Expansionary Gap? - Identifying an Economy That is Above Potential
- 12. Calculating the Size of an Expansionary Gap
Lessons in Macroeconomics
Economics 102: Macroeconomics is designed to be used to prepare you to earn real college credit by passing the Principles of Macroeconomics CLEP exam. This course covers topics that are included on the exam, such as comparative advantage, supply and demand, measuring the economy, inflation and unemployment rates. Use it to help you learn what you need to know about macroeconomics topics so you can succeed on the exam.
The economics instructors are experienced and knowledgeable educators, who have put together comprehensive video lessons in categories ranging from the definition opportunity cost and how to calculate it to the concept of economic scarcity. Each category is broken down into smaller chapters that will cover topics more in-depth. These video lessons make learning fun and interesting. You get the aid of self-graded quizzes and practice tests to allow you to gauge how much you have learned.
| Category | Objectives |
|---|---|
| Scarcity, Choice, and The Production Possibilities Curve | Study economic scarcity and the function of choice, opportunity cost and how to calculate it, applying the production possibilities model and shifts in the production possibilities curve. |
| Comparative Advantage, Specialization and Exchange | Learn about comparative advantages, gains from trade and the benefit of specialization, absolute advantage in trade and differentiating between comparative and absolute advantage. |
| Demand, Supply and Market Equilibrium | Find out about market demand schedule, market supply schedule, the law of the downward sloping demand curve and the upward sloping supply curve. Also, study how to calculate market equilibrium and how changes in supply and demand affect market equilibrium. |
| Measuring the Economy | Learn about the circular flow of economic activity, gross domestic product, the income and expenditure approaches intermediate goods, final goods and GDP. Also, take a look at investment vs. investments in economics. |
| Inflation Measurement and Adjustment | Examine the consumer price index, the GDP deflator, the substitution bias and real GDP. Study how to adjust wages for the inflation rate and calculate real GDP growth rates. Also, learn about the multiplier effect and cost-push inflation. |
| Understanding Unemployment | Examine how to define and measure the unemployment rate, why the unemployment rate decreases and increases, the three types of unemployment, the natural rate of unemployment and the effect of minimum wage on unemployment. |
| Aggregate Demand and Supply | Examine the Keynesian model and the classical model of the economy. Take a look at supply and demand curves, Keynes' economic theory of aggregate demand, shifts in labor supply and labor demand, marginal propensity to consume, sticky wages and prices and aggregate supply. |
| Macroeconomic Equilibrium | Take a look at real output, expansionary gap, contractionary gap, full employment GDP, economic performance over time. Additionally, learn about recession vs. depression. |
| Inflation and Unemployment | Examine inflation with a look at the Phillips Curve Model and factors That Shift the Phillips Curve. |
| Economic Growth and Productivity | Learn about economic growth and how real GDP per capita affects the standard of living. Also find out about productivity, investment in human capital and physical capital. |
| Money, Banking and Financial Markets | Study types of financial assets, the four basic functions of money, the fractional reserve system, money demand and interest rates. Find out about calculating the time value of money and measuring the money supply. |
| Central Bank and the Money Supply | Take a look at topics relevant to money, such as the Federal Reserve system, open market operations , quantity theory of money and the velocity of money. Also look at how the reserve ratio affects the money supply, banks can borrow money from the Federal Reserve and the Federal Reserve changes the money supply. |
| Fiscal and Monetary Policies | Find out about concepts that include the Keynesian Revolution, economic stabilization, fiscal policy tools, expansionary fiscal policy, aggregate demand, contractionary fiscal policy, supply-side economics, contractionary gap and expansionary gap. |
| Foreign Exchange and the Balance of Payments | Study foreign currency exchange. Learn about currency appreciation & depreciation and how fiscal and monetary policies affect the exchange rate and how currency changes affect imports and exports. |
| Inflows, Outflows, and Restrictions | Find out about net exports, capital flows, trade balance, financial markets, goods markets, tariffs and trade restrictions. |
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Education Portal Instructors
Education Portal's 53 instructors bring a diverse array of experience and expertise to each course. From teaching philosophy in Athens, Greece, to exploring the mystery of genetics, each instructor is uniquely qualified to bring students the best online learning experience possible. Meet them now!
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Jessica Bayliss, M.S.
Jessica is our Director of Education and leads the development of Education Portal's free courses. She has 10 years of experience in education and online teaching. Her work with students of all age levels drives
her belief in the power of free online resources to make higher education more affordable and efficient. Jessica's favorite part of the day is
reading feedback from Education Portal's students. She has a bachelor's degree from the University of Illinois and a master's degree in
instructional technology from Texas A&M - Kingsville.
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Greg Chin, Ph.D.
Greg has taught genetics, molecular biology, and general biology to
high school, collegiate, and post-graduate students at Stanford University, the University of California, Los Angeles, Santa Clara
University and the Dolan DNA Learning Center at Cold Spring Harbor Laboratory. He has also taught science workshops for the general
public and led biology teacher enrichment workshops throughout the U.S. He received a B.S. in Genetics from the University of
California, Davis, and a Ph.D. from Stanford University. Find out how your genes work in Greg's introduction to genetics video lesson!
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Max Pfingsten, M.Ed.
Max has taught classics, history and philosophy
at a variety of levels at the Dikemes Academy in Athens, the Boulder Valley School District, University of Colorado at Boulder and
the Illinois Mathematics and Science Academy (IMSA). His work is noteworthy for its synthesis of technology and simulation with more
traditional teaching approaches. He received a B.A. in Classics from Depauw University, a M.A. in Classics from University of
Colorado at Boulder, and a M.Ed. from Jones International University. See Socrates come to life in Max's lesson on the life, death,
and philosophy of the great Socrates.
- Meet all 53 of our instructors
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The videos were a great study tool. I aced the CLEP exam and earned 3 college credits!
Claire Steiner, Nursing Student More success stories
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