- Course type: Self-paced
- Available Lessons: 123
- Average Lesson Length: 8 min
Eligible for Certificate:
Certificates show that you have completed the course. They do not provide credit.
Watch a preview:chapter 1 / lesson 1Economic Scarcity and the Function of Choice
Course SummaryWatching the short video lessons and taking the accompanying multiple-choice quizzes in this course can earn you a Principles of Macroeconomics Certificate. This certificate can be used to identify your skills, abilities and educational commitment to your current and prospective employers.
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Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
About This Course
Watch video lessons for just a couple of weeks and earn a Principles of Macroeconomics Certificate. Our fun and engaging video lessons teach you essential macroeconomics concepts, such as comparative and absolute advantage, market supply and demand, gross domestic product, productivity and more. Lessons use on-screen graphics and entertaining animations to help you retain critical info.
Who's This For?
Small business owners, banking professionals, bloggers, consultants, government workers, marketing specialists and real estate agents may find the concepts addressed in this course useful. It's also a good starting point for those who want to enter the field of economics.
Prerequisites aren't required for this introductory course.
Benefits of the Certificate
This certificate can be useful in your career and your personal or social life. Some ideas for how you can benefit are listed below.
- Add this certificate to your resume or LinkedIn profile to demonstrate your grasp of fundamental macroeconomics concepts.
- Use this certificate to make a statement to current and potential employers about your abilities in this field.
- Demonstrate your willingness to continue your education throughout your career.
- Use this course in your personal life, to incorporate into social interactions, use in your volunteer activities or help students study for related exams.
Principles of Macroeconomics Program Breakdown
Scarcity, Choice and the Production Possibilities Curve
Start off the course with lessons on economic scarcity then learn how to calculate opportunity cost. Discover the most efficient way to produce a combination of two goods and examine scenarios that shift the production possibilities curve.
Comparative Advantage, Specialization and Exchange
This chapter uses examples to explain comparative advantage and absolute advantage. You'll also learn about gains from trade and the benefits of specialization.
Demand, Supply and Market Equilibrium
Find out how to create a demand and a supply schedule and what these schedules represent. Learn about the downward sloping demand curve, upward sloping supply curve and calculations used to determine market equilibrium.
Measuring the Economy
Study the flow of goods, services and resources in this chapter and see the components of the gross domestic product. Differentiate between investment and investments in economics.
Inflation Measurement and Adjustment
This chapter discusses the consumer price index and nominal and real GDP. You'll study cost-push inflation and demand-pull inflation and learn how inflation affects supply and demand.
Learn how to measure the unemployment rate in this chapter and examine the three types of unemployment. Understand how to use the formula for natural rate of unemployment and how the minimum wage affects employment.
Aggregate Demand and Supply
The focus of this chapter is on the Keynesian and Classical models of the economy. You'll study shifts in labor supply, government spending, sticky wages and prices. Favorable and unfavorable supply shocks are also addressed.
In this chapter, you'll use the GDP deflator to calculate real GDP and learn about expansionary and contractionary gaps in GDP. Lessons also differentiate between a recession and depression.
Inflation and Unemployment
This chapter teaches you about the relationship between inflation and unemployment using the Phillips curve. You'll learn about factors that shift the curve and behavior of the curve in the short and long run.
Economic Growth and Productivity
Learn how real GPD per capita affects the standard of living and examine factors that impact productivity. Discuss human and physical capital and policies that promote growth.
Money, Banking and Financial Markets
In this chapter, study the time value of money, functions of money and the fractional reserve system. You'll learn about bank lending, the money multiplier and the money supply and demand curves.
Central Bank and the Money Supply
Explore the Federal Reserve System, open market operations, discount rate and reserve ratio in this chapter. Study velocity of money, real versus nominal interest rates and hyperinflation.
Fiscal and Monetary Policies
Learn about basic tools of fiscal policy and some automatic stabilizers in economics. You'll understand the importance of timing in monetary policy and learn to calculate contractionary and expansionary gap.
Foreign Exchange and the Balance of Payments
Find out how the exchange rate works and study current appreciation and depreciation. Assess trade deficit and surplus, balance of payments and the impact of currency on imports and exports.
Inflows, Outflows, and Restrictions
Close out the chapter with lessons on how the flow of capital is affected by net export changes. Discuss tariffs and quotas and understand the impact of trade restrictions on cheap foreign labor.
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