LAWRENCE MCNEIL, PH.D.
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Principles of Macroeconomics


Picture
Textbook: Macroeconomics (Brief Edition), by McConnell, Brue, and Flynn, McGraw-Hill Irwin, 2013. ISBN:  978-0-07-723097-5

Using the Online Learning Center (.pdf)
      Use the OLC for access to PPT slides, videos, quizzes, study guides, and other     
      important chapter-by-chapter  information.


McGraw-Hill Connect



CHAPTER MATERIAL

Chapter 1: Limits, Alternatives, and Choices

After reading this chapter, you should be able to:
  1. Define economics and the features of the economic perspective.
  2. Describe the role of economic theory in economics.
  3. Distinguish microeconomics from macroeconomics.
  4. List the categories of scarce resources and delineate the nature of the economizing problem.
  5. Apply production possibilities analysis, increasing opportunity costs, and economic growth.
  6. (Appendix) Understand graphs, curves, and slopes as they relate to economics.
chap001.ppt
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Chapter 1 Study Guide
File Size: 189 kb
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Chapter 1: PPC
Chapter 1: Budget Line

Chapter 2: The Market System and the Circular Flow

After reading this chapter, you should be able to:
  1. Differentiate between a command system and a market system.
  2. List the main characteristics of the market system.
  3. Explain how the market system answers the four fundamental questions.
  4. Discuss how the market system adjusts to change and promotes progress.
  5. Describe the mechanics of the circular flow model.
chap002.ppt
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Chapter 2 Study Guide
File Size: 135 kb
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Articles

Cutting Costs to Drive Growth (WSJ)

Chapter 3: Demand, Supply, and Market Equilibrium

After reading this chapter, you should be able to:
  1. Describe demand and explain how it can change.
  2. Describe supply and explain how it can change.
  3. Relate how supply and demand interact to determine market equilibrium.
  4. Explain how changes in supply and demand affect equilibrium prices and quantities.
  5. Identify what government-set prices are and how they can cause product surpluses and shortages.
chap003.ppt
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briefmac_chap03.docx
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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)

Chapter 4: Market Failures: Public Goods and Externalities

After reading this chapter, you should be able to:
  1. Differentiate between demand-side market failures and supply-side market failures.
  2. Explain consumer surplus and producer surplus, and discuss how properly functioning markets maximize their sum while optimally allocating resources.
  3. Identify how public goods are distinguished from private goods, and explain the method for determining the optimal quantity of a public good.
  4. Explain how positive and negative externalities cause under-and overallocations of resources, and how they might be corrected.
  5. Show why we normally won't want to pay what it would cost to eliminate every last bit of a negative externality.
chap004.ppt
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briefmac_chap04.doc
File Size: 210 kb
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Chapter 5: GDP and Economic Growth

After reading this chapter, you should be able to:
  1. Explain how gross domestic product (GDP) is defined and measured.
  2. Describe how economists distinguish between nominal GDP and real GDP.
  3. List two ways that economic growth is measured.
  4. Identify the general supply, demand, and efficiency forces that give rise to economic growth.
  5. Describe "growth accounting" and the specific factors accounting for economic growth in the United States.
  6. Explain why the trend rate of U.S. productivity growth has increased since the earlier 1973–1995 period.
  7. Discuss differing perspectives as to whether growth is desirable and sustainable.
chap005.ppt
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briefmac_chap05.docx
File Size: 82 kb
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Data Links

Bureau of Economic Analysis
GDP Data, 2Q 2013
GDP Comparison Data
Video Links

Chapter 5: GDP
Article Links

The High Costs of Health Care (Economist)

Chapter 6: Business Cycles, Unemployment, and Inflation

After reading this chapter, you should be able to:
  1. Describe the business cycle and its primary phases.
  2. Illustrate how unemployment and inflation are measured.
  3. Explain the types of unemployment and inflation and their various economic impacts.
chap006_v2.ppt
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briefmac_chap06.docx
File Size: 63 kb
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Data Links
Bureau of Labor Statistics CPI information
How BLS Collects Data
National Bureau of Economic Research
Chapter 6: Unemployment
Chapter 6: Inflation
Video Links
Chapter 6: The Business Cycle (51 Mb download)

NBC Higher Ed Video Links:
Peanut Butter Prices (Inflation)


Chapter 7: Aggregate Demand and Aggregate Supply

After reading this chapter, you should be able to:
  1. Define aggregate demand (AD) and explain the factors that cause it to change.
  2. Define aggregate supply (AS) and explain the factors that cause it to change.
  3. Discuss how AD and AS determine an economy's equilibrium price level and level of real GDP.
  4. Describe how the AD-AS model explains periods of demand-pull inflation, cost-push inflation, and recession.
chap007.ppt
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briefmac_chap07.docx
File Size: 130 kb
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Videos:

Fiscal Policy and AD/AS (Solman video)

Chapter 8: Fiscal Policy, Deficits, and Debt

After reading this chapter, you should be able to:
  1. Identify and explain the purposes, tools, and limitations of fiscal policy.
  2. Explain the role of built-in stabilizers in dampening business cycles.
  3. Describe how the cyclically adjusted budget reveals the status of U.S. fiscal policy.
  4. Discuss the size, composition, and consequences of the U.S. public debt.
  5. Explain why there is a long-run fiscal imbalance in the Social Security system.
chap008.ppt
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chapter_8_study_guide.pdf
File Size: 145 kb
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Important Links

Paul Ryan Presentation
Long-Term Budget Outlook
CBO - Budget Outlook 2013
CBO - Deficit Reduction
CBO - Historical Budget Data
Videos

Crisis of Credit

Chapter 9: Money, Banking, and Financial Institutions

After reading this chapter, you should be able to:
  1. Identify and explain the functions of money and the components of the U.S. money supply.
  2. Describe what "backs" the money supply, making us willing to accept it as payment.
  3. Discuss the makeup of the Federal Reserve and the U.S. banking system.
  4. Identify the functions and responsibilities of the Federal Reserve.
  5. Identify and explain the main factors that contributed to the financial crisis of 2007–2008.
  6. Discuss the actions of the U.S. Treasury that helped keep the banking and financial crisis of 2007–2008 from worsening.
  7. Identify the main subsets of the financial services industry in the United States and provide examples of some firms in each category.
  8. Describe how banks create money in a "fractional reserve" banking system.
chap009.ppt
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supplement_to_chapter_9.pptx
File Size: 237 kb
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briefmac_chap09.doc
File Size: 230 kb
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transaction_5_clearing_a_check.pdf
File Size: 60 kb
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Video: Monetary Policy (Solman video) 
Video: Steering the Course (The Fed) (Solman video)
Video: In Plain English

Chapter 10: Interest Rates and Monetary Policy

After reading this chapter, you should be able to:
  1. Discuss how the equilibrium interest rate is determined in the market for money.
  2. List and explain the goals and tools of monetary policy.
  3. Describe the mechanisms by which monetary policy affects GDP and the price level.
  4. Discuss the effectiveness of monetary policy and its shortcomings.
  5. Describe how the Fed has used monetary policy in recent years to promote macroeconomic stability.
chap010.ppt
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briefmac_chap10.doc
File Size: 199 kb
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Important Links:

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Copyright 2020 Lawrence McNeil, Ph.D.
  • Home
  • About
  • BLOG
  • Resources
    • White Papers
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    • Books
    • Curated Lists
  • 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
  • Contact