An explanation of Gross Domestic Product.
An explanation of the components of GDP, including consumption, investment, government purchases, and net exports.
An explanation of calculating Gross Domestic Product in real and nominal terms.
A discussion of the limitations of Gross Domestic Product.
An explanation of the Consumer Price Index and inflation, including the costs associated with inflation.
A demonstration of measuring the CPI and calculating inflation.
A discussion of the limitations of the CPI, including as a means of indexing.
An explanation of the labor force, including employment, unemployment and the unemployment rate.
A discussion of the costs of unemployment.
A discussion of the different types of unemployment and their implications.
An explanation of calculating the unemployment rate and participation rate as well as a discussion of other labor market measures.
An explanation of economic growth, including the factors of growth: physical capital, human capital, natural resources, entrepreneurship, social and legal framework, and technology.
An introduction to the Solow Growth Model, including the general production function and setting up the per capita production function.
A further explanation of the Solow Growth Model, including “steady state” income, investment, and consumption, and finding the growth rate of the capital to labor ratio.
An explanation of convergence, including empirical evidence about when poorer countries start to catch up to richer countries.
An explanation of changes in our steady state standards of living, including the relationship with savings rates, technology, and effective depreciation.
An explanation of the process of marginal analysis a firm goes through to decide the correct number of workers to maximize profits.
An explanation of the relationship between aggregate labor supply and aggregate labor demand with real wages, as well as shifts in labor supply.
An introduction to the Search and Matching Model of Labor, including assumptions and explanations of the equilibrium unemployment rate and the reservation wage.
An explanation of the effects of the reservation wage on unemployment, including the relationship with separation rates, wage taxes, unemployment benefits, and the frequency of job offers.
An explanation of the process of marginal analysis a firm goes through to decide the correct number of workers to maximize profits.
An explanation of the relationship between savings and consumption through the Two-Period Consumer Model.
An explanation of the relationship between interest with savings and consumption in the Two-Period Consumer Model, including income and substitution effects.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.