LAWRENCE MCNEIL, PH.D.
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Fundamentals of Economics

Picture

Principles of Economics (2e.) from OpenStax 
ISBN
978-1-947172-37-1

Helpful online learning tools:
Khan Academy

Lynda.com
NBC Learn Higher Education



Advice from Students: How to Earn an A ​in ECON 2003


​What is the Flipped classroom?​
Pre-Class Activities
​​  1. Watch the Chapter narrated slides.
​  2. Complete the pre-class homework questions.
Additional videos, articles, or activities may be assigned, as necessary.

Chapter 1: Welcome to Economics

After reading this chapter, you should understand:
• What Is Economics, and Why Is It Important?
• Microeconomics and Macroeconomics
• How Economists Use Theories and Models to Understand Economic Issues
• How Economies Can Be Organized: An Overview of Economic Systems

princecon2e-ch01.pptx
File Size: 369 kb
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Chapter 2: Choice in a World of Scarcity

 In this chapter, you will learn about:
• How Individuals Make Choices Based on Their Budget Constraint
• The Production Possibilities Frontier and Social Choices
• Confronting Objections to the Economic Approach
princecon2e-ch02.pptx
File Size: 287 kb
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Articles

Cutting Costs to Drive Growth (WSJ)

Chapter 3: Demand and Supply

 In this chapter, you will learn about:
• Demand, Supply, and Equilibrium in Markets for Goods and Services
• Shifts in Demand and Supply for Goods and Services
• Changes in Equilibrium Price and Quantity: The Four-Step Process
princecon2e-ch03.pptx
File Size: 765 kb
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Video Links:

Chapter 3: The Demand Curve (23 Mb download)
Chapter 3: The Supply Curve (21 Mb download)
Chapter 3: Equilibrium (40 Mb download)
Chapter 3: Curves Shifting (47 Mb download)
What's Behind the Slide in Oil Price?
Interactive Graphs:
Supply and Demand
Price Floors and Ceilings


Chapter 4: Labor and Financial Markets

 In this chapter, you will learn about:
  • Predict shifts in the demand and supply curves of the labor market
  • Explain the impact of new technology on the demand and supply curves of the labor market
  • Explain price floors in the labor market such as minimum wage or a living wage”
princecon2e-ch04.pptx
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Chapter 5: Elasticity

  In this chapter, you will learn about: 
• Price Elasticity of Demand and Price Elasticity of Supply
• Polar Cases of Elasticity and Constant Elasticity
• Elasticity and Pricing
• Elasticity in Areas Other Than Price
princecon2e-ch05.pptx
File Size: 532 kb
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Chapter 7: Costs and Industry Structure

 In this chapter, you will learn about:
• Explicit and Implicit Costs, and Accounting and Economic Profit
• The Structure of Costs in the Short Run
• The Structure of Costs in the Long Run
princecon2e-ch07.pptx
File Size: 555 kb
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Chapter 12: Environmental Protection and Negative Externalities

 In this chapter, you will learn about:
• The Economics of Pollution
• Command-and-Control Regulation
• Market-Oriented Environmental Tools
• The Benefits and Costs of U.S. Environmental Laws
• International Environmental Issues
• The Tradeoff between Economic Output and Environmental Protection
princecon2e-ch12.pptx
File Size: 289 kb
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Chapter 13: Positive Externalities and Public Goods

In this chapter, you will learn about:
​
• Why the Private Sector Under Invests in Technologies
• How Governments Can Encourage Innovation
• Public Goods
princecon2e-ch13.pptx
File Size: 392 kb
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Chapter 19: The Macroeconomic Perspective

 In this chapter, you will learn about:
• Measuring the Size of the Economy: Gross Domestic Product
• Adjusting Nominal Values to Real Values
• Tracking Real GDP over Time
• Comparing GDP among Countries
• How Well GDP Measures the Well-Being of Society
princecon2e-ch19.pptx
File Size: 935 kb
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mcconnell_ch27.pptx
File Size: 1775 kb
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Data Links

Bureau of Economic Analysis
GDP Data
GDP Comparison Data
Article Links

The High Costs of Health Care (Economist)

Chapter 20: Economic Growth

 In this chapter, you will learn about:
• The Relatively Recent Arrival of Economic Growth
• Labor Productivity and Economic Growth
• Components of Economic Growth
• Economic Convergence
princecon2e-ch20.pptx
File Size: 604 kb
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Chapter 21: Unemployment

 In this chapter, you will learn about:
• How the Unemployment Rate is Defined and Computed
• Patterns of Unemployment
• What Causes Changes in Unemployment over the Short Run
• What Causes Changes in Unemployment over the Long Run
princecon2e-ch21.pptx
File Size: 580 kb
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Data Links
BLS Labor Force Data (Trend Analysis)
Bureau of Labor Statistics CPI information
How BLS Collects Data
National Bureau of Economic Research
Video Links
The Business Cycle (51 Mb download)

NBC Higher Ed Video Links:
Peanut Butter Prices (Inflation)
Articles
bls_labor-force.pdf
File Size: 2403 kb
File Type: pdf
Download File

black_unemployment.pdf
File Size: 356 kb
File Type: pdf
Download File


Chapter 22: Inflation

 In this chapter, you will learn about:
• Tracking Inflation
• How Changes in the Cost of Living are Measured
• How the U.S. and Other Countries Experience Inflation
• The Confusion Over Inflation
• Indexing and Its Limitations
princecon2e-ch22.pptx
File Size: 1026 kb
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Chapter 23: International Trade and Capital Flows

 In this chapter, you will learn about:
• Measuring Trade Balances
• Trade Balances in Historical and International Context
• Trade Balances and Flows of Financial Capital
• The National Saving and Investment Identity
• The Pros and Cons of Trade Deficits and Surpluses
• The Difference between Level of Trade and the Trade Balance
princecon2e-ch23.pptx
File Size: 724 kb
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Chapter 24: Aggregate Demand and Aggregate Supply Model

 In this chapter, you will learn about:
• Macroeconomic Perspectives on Demand and Supply
• Building a Model of Aggregate Supply and Aggregate Demand
• Shifts in Aggregate Supply
• Shifts in Aggregate Demand
• How the AS–AD Model Incorporates Growth, Unemployment, and Inflation
• Keynes’ Law and Say’s Law in the AS–AD Model
princecon2e-ch24.pptx
File Size: 581 kb
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multiplier_v2.pptx
File Size: 79 kb
File Type: pptx
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Videos:

Fiscal Policy and AD/AS (Solman video)

Chapter 27: Money and Banking

 In this chapter, you will learn about:
• Defining Money by Its Functions
• Measuring Money: Currency, M1, and M2
• The Role of Banks
• How Banks Create Money
princecon2e-ch27.pptx
File Size: 468 kb
File Type: pptx
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supplement.pptx
File Size: 237 kb
File Type: pptx
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transaction_5_clearing_a_check.pdf
File Size: 60 kb
File Type: pdf
Download File

Video: Monetary Policy (Solman video) 
Video: Steering the Course (The Fed) (Solman video)
Video: In Plain English

Chapter 28: Monetary Policy and Bank Regulation

 In this chapter, you will learn about:
• The Federal Reserve Banking System and Central Banks
• Bank Regulation
• How a Central Bank Executes Monetary Policy
• Monetary Policy and Economic Outcomes
• Pitfalls for Monetary Policy
princecon2e-ch28.pptx
File Size: 914 kb
File Type: pptx
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Important Links:
Bankrate
Federal Reserve YouTube Page
(very useful)

Chapter 30: Government Budgets and Fiscal Policy

 In this chapter, you will learn about:
• Government Spending
• Taxation
• Federal Deficits and the National Debt
• Using Fiscal Policy to Fight Recessions, Unemployment, and Inflation
• Automatic Stabilizers
• Practical Problems with Discretionary Fiscal Policy
• The Question of a Balanced Budget
princecon2e-ch30.pptx
File Size: 1109 kb
File Type: pptx
Download File

Important Links

Obama's Numbers - April 2016
CBO Budget and Economic Data
Paul Ryan Presentation

Long-Term Budget Outlook
CBO - Budget Outlook 2013
CBO - Deficit Reduction
CBO - Historical Budget Data
History of Public Debt

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Copyright 2024 Lawrence McNeil, Ph.D.
  • Home
  • BLOG
  • About
  • Academy
    • Research
    • Courses >
      • Concepts of Economic Analysis
      • Principles of Macroeconomics
      • Fundamentals of Economics >
        • ECON 2003 Advice from Students
      • Economic Development
      • Economics of Innovation >
        • Peer Performance Review
      • Economics for Entrepreneurs
      • International Trade >
        • Trade Peer Performance Review
      • Quantitative Methods
      • Business Ethics and Law
      • Business Statistics
      • McGraw-Hill Connect
    • Travel >
      • Travel Blog
      • Australia >
        • Australia Images 2019
        • Australia Overview
      • South Africa >
        • South Africa Images 2018
        • South Africa Images 2017
  • Resources
    • White Papers
    • Podcasts
    • Books
    • Curated Lists