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.
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
• 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
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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
• How Individuals Make Choices Based on Their Budget Constraint
• The Production Possibilities Frontier and Social Choices
• Confronting Objections to the Economic Approach
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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
• 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
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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? | |||
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”
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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
• 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
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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
• 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
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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
• 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
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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
• Why the Private Sector Under Invests in Technologies
• How Governments Can Encourage Innovation
• Public Goods
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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
• 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
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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
• The Relatively Recent Arrival of Economic Growth
• Labor Productivity and Economic Growth
• Components of Economic Growth
• Economic Convergence
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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
• 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
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Data Links
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Video Links
Articles
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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
• 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
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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
• 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
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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
• 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
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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
• Defining Money by Its Functions
• Measuring Money: Currency, M1, and M2
• The Role of Banks
• How Banks Create Money
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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
• 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
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Important Links:
Bankrate | |||
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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
• 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